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MINNEAPOLIS, Jan. 26, 2021 /PRNewswire/ --The IMAGINE Group ("IMAGINE" or "the Company"), a leading provider of visual communications, announced today that it has completed a recapitalization, reducing the company's debt load from $550 million to $100 million and facilitating new capital investment. With this new financial structure in place, IMAGINE has a stronger, healthier balance sheet that will support its ambitious growth plan to accelerate its leadership position in the industry. In concert with this transaction, IMAGINE will have a new ownership structure, which will include support from investors managed by Cerberus Capital Management, L.P. ("Cerberus"), the Goldman Sachs Merchant Banking Division and Arbour Lane Capital Management, LP. With this new ownership group, IMAGINE believes it will be well positioned to grow the business, leverage the full strength of IMAGINE's talented team and invest in new systems, equipment and acquisition opportunities. "Over the past 12 months, we have been executing on a strategy of significant transformation to best position the Company for long-term success. This transaction represents a critical financial step to support our team's work and the operational improvements we have made," said Craig Reese, IMAGINE Chief Executive Officer. "IMAGINE has a bright future ahead and we welcome the opportunity for additional capital to improve our technology, turnaround times, creative service offerings, digital opportunities and print-on-demand capabilities. This new investment, combined with a stronger financial foundation, will give us the support and flexibility we need to succeed against our goals and grow the business." Rickardo Francis, Managing Director at Cerberus and newly appointed member of IMAGINE's Board of Directors, added, "We have been impressed with the IMAGINE team, the strong customer relationships they have built and the Company's market-leading capabilities. We are looking forward to partnering with the Company as it enters this new phase of growth and innovation. With one of the strongest balance sheets in the industry and an exciting growth plan supported by investments from the new ownership, IMAGINE will be well positioned for continued success." Reese concluded, "None of this would be possible without the hard work of our team. Though the COVID-19 pandemic has affected each of us, I have seen the IMAGINE team continue to dedicate themselves to our work and our customers and I want to thank them for everything they've done for our company." IMAGINE was represented by Paul Weiss as legal counsel and Moelis & Company as financial advisor. The new equity investors were represented by King & Spalding as legal counsel and FTI Consulting as financial advisor. About IMAGINE IMAGINE is an industry-leading national provider of visual print communications and experiential marketing solutions. From concept to consumer, IMAGINE partners with companies to realize a better way via teams of trained experts that listen, understand, and move at the speed of change to deliver beautiful pieces that inspire. IMAGINE offers a seamless end-to-end journey including innovative solutions in concepting, pre-media, direct mail, out-of-home, dcor, commercial print, location signage, specialty packaging, and fulfillment, backed by state-of-the-art equipment and processes. The IMAGINE family of companies includes IMAGINE Charlotte, IMAGINE Chicago, IMAGINE Twin Cities and IMAGINE Los Angeles/Midnight Oil Agency. Imagine a better way at www.theimaginegroup.com. About Cerberus Founded in 1992, Cerberus is a global leader in alternative investing with over $48 billion in assets across complementary credit, private equity, and real estate strategies. We invest across the capital structure where our integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. Our tenured teams have experience working collaboratively across asset classes, sectors, and geographies to seek strong risk-adjusted returns for our investors. For more information about our people and platforms, visit us at www.cerberus.com. About the Goldman Sachs Merchant Banking Division Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm's long-term principal investing activity. MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate. About Arbour Lane Arbour Lane Capital Management, LP ("Arbour Lane") is a registered investment adviser focused primarily on opportunistic credit and special situations investments. Arbour Lane leverages its team's deep experience in various sectors, built over years at both investment banks and primary investment firms, to source and invest in undervalued credit opportunities and special situations in the middle market. SOURCE The IMAGINE Group Related Links http://www.theimaginegroup.com

Answer: IMAGINE Strengthens Balance Sheet to Drive Growth Plan