Best Associates Chairman Named to ProQuest Board
DALLAS, Tex. (March 16, 2005) - Best Associates, a Dallas-based merchant banking firm, announced that company chairman Randy Best has been appointed to the board of directors of ProQuest Company, a leading publisher of information solutions for the education and automotive markets.
Mr. Best, who co-founded Voyager Learning with Admiral Thomas B. Hayward (ret.), was named to the ProQuest board effective March 10, 2005.
"Randy Best co-founded Voyager Learning, one of our most recent and most important acquisitions. Under his leadership, Voyager grew from a startup to a successful education company with annual revenue approaching $100 million. As we continue building ProQuest's K-12 business incorporating the platform of Voyager Learning, having Randy Best as a member of our Board of Directors will be invaluable," said Alan Aldworth, chairman and chief executive officer of ProQuest Company. "I look forward to his contributions to ProQuest Company's continued success, and I welcome him to our board," added Aldworth.
Mr. Best brings significant expertise to ProQuest in the fields of literacy, K-12 education and the growth of emerging businesses. He was also a founding partner in the merchant banking firm, Mason Best. During his 35 years in merchant banking, he gained extensive experience as a private investor and senior executive in a broad range of business entities. He has started or acquired more than 100 privately or publicly held companies.
"I am proud to join ProQuest's Board of Directors. We share a vision for the growth of ProQuest and a strong commitment to education," said Best. "I look forward to continuing my association with Voyager and ProQuest as a member of the board," Best added.
Mr. Best is an advisory board member for the Education Commission of the States, and a member of the National Education Association Foundation Board, the College of Education Foundation Advisory Council for the University of Texas at Austin, and the National Urban Alliance Board for Columbia University. Previously, he served on the White House Millennium Committee and The Foundation Leadership Network.
About ProQuest Company
ProQuest Company (NYSE: PQE) is based in Ann Arbor, Mich., and is a leading publisher of information solutions for the education, automotive and power equipment markets. Proquest provides products and services to its customers through two business segments: Information and Learning, and Business Solutions. Through its Information and Learning segment, which primarily serves the education market, Proquest collects, organizes and publishes content from a wide range of sources including newspapers, periodicals and books. Proquest's Business Solutions segment is primarily engaged in the delivery, in electronic form, of comprehensive parts and service information to the automotive market. Its products transform complex technical data, like parts catalogs and service manuals, into easily accessed electronic information. For the world's automotive manufacturers and their dealer networks, ProQuest also secures business-to-business information and retail performance management services. ProQuest Company was recently named one of the nation's 200 best small companies by Forbes magazine, and one of the 100 fastest growing technology companies in the United States by Business 2.0 magazine.
For more information on Proquest, go to www.proquestcompany.com
About Best Associates:
Best Associates is a privately owned merchant banking institution headquartered in Dallas, Texas, with related activities throughout the United States and abroad. The firm provides capital to growth-oriented businesses, initiates start-ups and makes acquisitions in targeted industry segments. Best Associates has longtime relationships in several industry sectors. They include education, specialty foods, health care, real estate and energy. Acting as a principal, the firm uses its capital, contacts and management resources to identify investment opportunities and to assist its partners and portfolio companies with their financial requirements. The firm’s activities include originating and structuring transactions, direct investment, and recruiting, supporting and advising the management of associated entities. Currently, Best Associates represents outside investors in multiple transactions, and it is continually evaluating new investment opportunities.
For more information on Best Associates, go to bestassociates.com or contact:
Tom Evans
2200 Ross Avenue
Suite 3800
Dallas, Texas 75201
214-438-4100
contact@bestassociates.com