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SPAR Group Engages Investment Banking Firm Jesup & Lamont to Assist With Growth
Initiatives
TARRYTOWN, N.Y., June 18, 2009 -- SPAR Group, Inc. (Nasdaq:SGRP), a
leading domestic and international supplier of merchandising and other
marketing services, today announced it has engaged investment banking firm
Jesup & Lamont, Inc. to assist it with growth initiatives, including, but not
limited to, identifying acquisition or merger candidates on a global basis,
raising capital and related activities .
"Particularly in
today's economic environment, there are numerous opportunities on a global
basis to expand our business through the creation of synergistic relationships
or business combinations," said Gary Raymond, SPAR Group's president and chief
executive officer. "We will look to our investment banker to help facilitate
potential transactions that we or they identify, including providing access to
additional capital, as we seek opportunities that will enhance our growth and
shareholder value."
During
recessionary periods and as business conditions begin to stabilize on a
worldwide basis, Raymond said it may be an opportune time for SPAR Group to
explore expansion opportunities, as the retail companies it serves typically
seek new solutions to cost-effectively improve their performance and enhance
efficiencies.
About SPAR Group
SPAR Group, Inc.
is a diversified international marketing services company, providing a broad
array of services to help companies improve their sales, operating efficiency
and profits at retail worldwide. The company provides in-store merchandising,
in-store event staffing, RFID and other technology, as well as research, to
manufacturers and retailers covering all product classifications and all
classes of trade, including mass market, drug store, convenience store and
grocery chains. The company operates throughout the United States and
internationally in Japan, Canada, Turkey, South Africa, India, Romania, China,
Lithuania, Latvia, Estonia, Australia and New Zealand. For more information,
visit SPAR Group's Web site,
www.sparinc.com.
About Jesup &
Lamont
Established in
1877, Jesup & Lamont offers comprehensive investment banking services,
publishes proprietary research and provides full service broker-dealer services
through approximately 200 registered representatives in its primary offices in
New York, San Francisco, Boston, Boca Raton, Fort Lauderdale and Orlando, as
well as its independent offices nationwide.
Certain
statements in this news release are forward-looking, including, but not limited
to, identifying and consummating a transaction as a result of engaging an
investment banker. The company's actual results, performance and trends could
differ materially from those indicated or implied by such statements as a
result of various factors, including (without limitation), the continued
strengthening of SPAR Group's selling and marketing functions, continued
customer satisfaction and contract renewal, new product development, continued
availability of capable dedicated personnel, continued cost management, the
success of its international efforts, success and availability of acquisitions,
availability of financing and other factors, as well as by factors applicable
to most companies such as general economic, competitive and other business and
civil conditions. Information regarding certain of these and other factors that
could affect future results, performance or trends are discussed in SPAR
Group's annual report on Form 10-K , quarterly reports on Form 10-Q, and other
filings made with the Securities and Exchange Commission from time to time.
| Contact: |
SPAR Group, Inc. |
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James R.
Segreto, Chief Financial Officer |
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(914) 332-4100 |
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PondelWilkinson
Inc. |
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Roger S. Pondel |
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(310) 279-5980 |
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