ImageQuix announces investment from Charlesbank Capital Partners
Volume photography workflow and ecommerce software company ImageQuix announced Charlesbank Technology Opportunities Fund, a fund managed by Charlesbank Capital Partners, has made a majority investment in the company. Charlesbank is an experienced middle-market private investment firm based in Boston and New York. ImageQuix CEO Alex Kovacevic and management will remain shareholders alongside Charlesbank. The funding will assist ImageQuix in accelerating the expansion of its business both organically and through M-and-A, the announcement said. The ImageQuix brands include PhotoLynx (acquired in 2019) and Capturelife (acquired in 2021). ASG invested in ImageQuix in 2018, beginning a four-year trend of acquisitions and growth.
The press release said the company has gained market share with its sophisticated functionality and ability to enhance the consumer experience and provide a better assortment of products at the best prices.
“With ASG as our outstanding partner since 2018, we have seen impressive growth both organically and with strategic M&A,” said Alex Kovacevic, CEO of ImageQuix. “By building out the product offering and our amazing team, we are now a market-leading provider of high-volume photography software. We are thankful for ASG’s partnership, and we’re thrilled to be writing our next chapter of growth with Charlesbank. Their strategic expertise and experience scaling enterprise software companies like ours will be critical as we continue to deliver on our promise to help photo studios of all sizes grow their businesses and provide outstanding pictures to their customers.”
“We believe ImageQuix offers a premier digital delivery and engagement solution for high-volume photography, leading to happier photographers and consumers,” said Mayur Desai, Managing Director at Charlesbank. “We see ample opportunity to capitalize on the e-commerce trend and the shift in consumer spending on experiences over physical products. We look forward to working with Alex and his experienced team to promote continued strategic growth and innovation at the Company.”
“ImageQuix has been an amazing business to own and grow, and we’re incredibly proud of what we’ve built together with this team these past four years,” says Steve Reardon, CEO of ASG. “Alex’s focus on customers and creating a leading team and product has created a very strong business proposition for ImageQuix and positioned them well to scale even further. We can’t wait to see what this team does in the future and their continued growth with Charlesbank.”