Etix Co-founder Returns for Second Term as CEO

Concert Tickets
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Travis Janovich returns through a management-led takeover.

Etix announced Tuesday (Dec. 15) that founder and former chief executive Travis Janovich has again taken the helm of the North Carolina-based ticketing company. He replaces former CEO Joe Kustelski -- who replaced Janovich in 2012 -- through a management-led takeover aided by the investment of OFS Capital Corporation.

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"I could not be happier with our decision to partner with OFS," Janovich said in a statement. "We feel that the investment will empower the company to expand on its continued growth and success."

Founded in 2000, Etix processes more than 50 million tickets annually in 40 countries. Its 1,800 clients include arenas, theaters, festivals, casinos, performing arts centers and fairs. Etix claims year-over-year revenue growth of 20 percent through Dec. 1 and Triangle Business Journal recently named it number 41 in the 50 fastest growing companies in the greater Raleigh-Durham area.

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OFS's investment in Etix comes amidst continued activity in the ticketing business. The largest deal was Pandora's $450 million acquisition of Ticketfly in October, but smaller deals show ticketing is still a hot investment. Last week Vendini announced the acquisition of CrowdTorch from Cvent and a mobile ticketing company Masabi announced it raised $12 million.

Kustelski came to Etix in 2011 when the company purchased the Nashville-based marketing firm he co-founded, Rockhouse Partners. 

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