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InMotion Entertainment Group Acquires Airport Wireless Holdings, LLC

JACKSONVILLE, FLORIDA – MAY 15, 2015 – InMotion Entertainment Group, LLC (“InMotion”), a portfolio company of Bruckmann, Rosser, Sherrill & Co. (“BRS”) and Palladin Consumer Retail Partners, LLC (“Palladin” or “PCRP”), today announced that it has acquired Airport Wireless Holdings, LLC (“APW”).

Founded in 1998 by Iris Goldschmisdt, APW is the second-largest airport-based retailer of consumer electronics and accessories in the United States. APW operates under five successful banners: Airport Wireless, techshowcase, Tech Interaction, tech in a sec, and Touch Table. With the acquisition of APW, InMotion will further enhance its leading market position in consumer electronics in the airport channel to 120 locations in the all of the major airports across the United States.

Jeremy Smith, President and CEO of InMotion Entertainment Group, said, “Since inception, we have continuously strived to evolve and improve our business. This acquisition accelerates the growth of InMotion by enhancing our footprint and increasing our market share. Further, we are excited that the combination of InMotion and APW will enable us to provide airport shoppers with greater access to the leading brands and products in consumer electronics and travel accessories.”

Fifth Street Finance Corp. provided debt financing for the transaction. Kirkland & Ellis LLP acted as legal advisor to BRS and Palladin.

About InMotion Entertainment Group, LLC (www.inmotionstores.com)
InMotion Entertainment Group, based in Jacksonville, Florida, is the largest airport-based retailer of headphones, mobile device accessories, other consumer electronics, and travel accessories. With the acquisition of its next largest competitor, APW, the Company operates 120 locations in the busiest airports across the United States under the InMotion Entertainment, Soundbalance, and Headphone Hub banners. Known for their curated product selection of market-leading brands and best-in-class sales associates, InMotion offers travelers an unparalleled shopping experience for consumer electronics products.

About BRS (www.brs.com)
BRS is a New York-based private equity firm with $1.4 billion of committed capital under management in three investment partnerships, focused on investing in middle market consumer goods and services businesses. Since 1996, BRS has purchased over 40 portfolio companies for aggregate consideration of over $6.4 billion. In addition, BRS portfolio companies have completed approximately $1.9 billion of add-on acquisitions. Prior to forming the firm, the founders of BRS were in the private equity business at Citicorp Venture Capital where they closed 25 transactions with aggregate transaction values totaling $5.8 billion. Current investments include Not Your Average Joe’s, Downtown Locker Room, EOS Fitness, and Simpson Performance Products.

About Palladin (www.pcrp.com)
Palladin Consumer Retail Partners, is a Boston-based private equity firm focused exclusively on retail and consumer products companies in North America and Europe. Founded in 1998, the firm prides itself on working closely with management teams to create value through strategic and operational initiatives. Its principals have previously held CEO and other senior executive roles at several wholesale, retail, and related companies. Palladin is investing out of its current fund which was closed in April 2012. Current and former investments include Aerosoles, KT Health, Nic & Zoe, Harrys of London, J. McLaughlin, Things Remembered, Restoration Hardware, Andrew Marc, Party America, and Spencer Gifts.

For additional information and questions please contact:
For InMotion Entertainment Group: Eden Goldberg: egoldberg@inmotionstores.com, 212-502-6757
For BRS and Palladin: Mark Semer or Ruth Pachman, Kekst, 212-521-4800

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