(New York, NY) – Cortec Group (“Cortec”), a New York-based private equity firm focused on investing in and growing family and founder-led specialty business-to-business, consumer and healthcare products and services companies, announced that Cortec Group Fund VIII, L.P. and its affiliated entities (“Cortec Fund VIII”), in partnership with Chief Executive Officer Michael Duggal, has made a growth capital investment in Duggal Visual Solutions, Inc. (“Duggal” or the “Company”). Terms of the transaction were not disclosed.
Headquartered in Brooklyn, NY and family-owned since its founding in 1961, Duggal is a leading provider of creative visual marketing solutions for premium brands and retailers. Duggal’s primary offerings include digital printed media, high-end displays and fixtures, and integrated digital screens. Duggal also provides creative services (e.g., image retouching, technical adaptation of creative assets for physical / digital applications, and CGI) and digital content management. The Company’s core customer base, which includes leading global brands and retailers, typically partner with the Company for in-store recurring seasonal promotions and new product launches, as well as “pop-ups” and other experiential marketing (typically temporary retail spaces, bespoke, premium installations in high-exposure locations, stadium events, and exhibitions).
Jonathan Stein, a Managing Partner of Cortec, stated, “Duggal is widely regarded as one of the premier service providers capable of offering a comprehensive suite of creative design services, varied display solutions, and in-house production and installation services. Few companies can match the quality, speed, technical savvy, and creativity that Duggal provides its customers.” Jack Miner, a Managing Director at Cortec, added, “We are thrilled that Mike chose Cortec as his investment partner to support the Company’s expansion plans. Duggal is a great fit with Cortec, and we are confident that our decades of experience working closely with and providing growth capital for successful entrepreneur-owned businesses will enable the Company to execute on its global vision.”
Michael Duggal, CEO of Duggal, commented, “Cortec is an ideal partner for me and our team, given their differentiated approach to partnering with founders and their successful track record and experience supporting high-growth companies. During the transaction process, the Cortec team embraced our culture, brought relevant experience to the table, and demonstrated a clear understanding of our business, customers and strategy.” Mr. Duggal, who remains the largest individual shareholder, concluded, “Our entire team is excited about the shared values, knowledge and resources that Cortec brings to our company.”
The investment in Duggal is the second platform investment of Cortec Fund VIII, a $3.2 billion fund which closed in February 2024. Paul Hastings served as legal advisor to Cortec Fund VIII. Perella Weinberg Partners served as financial advisor and Jones Day served as legal advisor to Duggal.
About Cortec Group
Founded in 1984, Cortec invests in market-leading, middle-market specialty business-to-business, consumer and healthcare products and services businesses in partnership with owners and management teams who want to work with the Cortec team to drive growth and improve business fundamentals. Additional information about Cortec can be found at www.cortecgroup.com.
About Duggal
Duggal specializes in producing compelling visual experiences and transforming environments. As the industry leader in integrating innovative technology with the widest array of in-house capabilities, Duggal produces everything from global rollouts of printed materials and fixtures in 2,000+ locations, to stunning multimedia build-outs of flagship stores, stadium-size installations, world-class events, and headline exhibitions. The Company’s reputation is built on a half-century of delivering unparalleled quality and innovation to designers, photographers, architects, and artists for museums, galleries, retailers, sports leagues, venues, and corporations worldwide. Duggal’s Digital Studio, CGI, retouching, and video content teams are powered by 300,000 square feet of production space, featuring the most robust collection of cutting-edge digital printing and fabrication equipment found in the United States. Additional information about Duggal can be found at www.duggal.com.
