Supplier News Breaks
ECRM names new chief with sale to investment firm
July 10th, 2013
SOLON, Ohio – ECRM has been acquired by private equity firm BV Investment Partners and is ushering in a new top executive.
The retail and consumer product manufacturer solution provider said Tuesday that under the agreement, terms of which weren't disclosed, BV Investment Partners becomes ECRM's majority shareholder, effective immediately.
With the deal, Mitch Bowlus is stepping down as ECRM president and will be succeeded by Greg Farrar, former chief executive officer of Trade Only Design Library (TODL), an online product research and specification library.
"I will continue to be a significant shareholder and will be involved in the future strategic growth of the business but will be transitioning out of the day-to-day operations," Bowlus said in a statement. "With this, I am pleased to announce Greg Farrar as our new CEO."
For interior designers, architects and other trade professionals, TODL saw its professional membership grow by 50% and its manufacturer library increase by over 60% under Farrar's leadership, ECRM said. Before his tenure at TODL, from 2007 until 2010 Farrar served as president of Nielsen Business Media and after having been named its chief operating officer in 2006.
"This is about growing and serving our customers better. It's about taking the opportunity to enter into markets we don't currently serve yet," Farrar stated about his new role at ECRM.
Bowlus commented, "The executive team is very excited that we have found a seasoned senior leader who will undoubtedly help us propel the future growth of the company."
Founded in 1994 by the late Charlie Bowlus and his son Mitch Bowlus, ECRM — Efficient Collaborative Retail Marketing — is known for strategic events and promotional tracking and analysis in the consumer packaged goods (CPG) industry.
"I'm excited to partner with BV to help bring the company that my father and I built together to its next stage of growth," stated Mitch Bowlus, who became president of ECRM in June 2011 after having served as chief financial officer. Charlie Bowlus passed away at age 64 following complications from surgery in August 2011.
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