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Jul 23, 2010 12:00 AM
Seattle, WA-based RPI has closed on a financing round with Huntington Capital, a leading San Diego-based capital provider. RPI will use the additional funds to introduce new services and technologies, such as a managed merchandise program targeting the placement of new products, and to provide access to technology platforms that will provide new opportunities for brand owners in the personal creative expression market.
Celebrating its 30th anniversary, RPI has produced millions of personalized products including photo books, invitations, business cards and stationery for top-tier retailers that represent over 40% of the total photo products market. HP recently recognized RPI as one of the top 10 producers of Indigo impressions in the United States and one of the top 20 worldwide.
“Through accelerated investment in growth initiatives and operational efficiencies, RPI is positioned to become the market leader in creating, designing and manufacturing personalized products to retailers and other brand owners,” says Dave Gens, executive vice president, RPI. “Huntington Capital is very enthusiastic about this market and our plans for fueling its growth through new products and services, and together, we will make an unbeatable team.”
As RPI’s investment partner, Huntington Capital’s Tim Bubnack will join RPI’s board as a director, bringing more than 15 years of finance experience in the technology and communications industries.
Barry Wilson, the co-founder of Huntington, will join the RPI board as an observer. He brings over 25 years of management experience with dozens of growing businesses as a board member, advisor, and investor, and has founded or co-founded four companies.
“Huntington’s approach to growth capital is truly unique, proving to be a partner at every step in the process. We’re very pleased to have the expertise of the Huntington team as we execute on our next phase of business initiatives,” says Rick Bellamy, CEO, RPI. “Their insight will be invaluable as we expand our market opportunities through innovative product design and technology services.”
In the coming months, RPI will introduce new products and services targeting placement of personal creative expression products with existing brand owners. The company also plans to expand its patent pending technology to enable a geographically diverse manufacturing platform that will increase flexibility in exceeding brand owner’s expectations for quality and on-time delivery.