Purchasing Power Increases Revenue 27 percent in 2011 Over Previous Year

Company Fills a Consumer-Friendly Retail Need for U.S. Employees in Tough Economy

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Mar 06, 2012, 07:00 ET

ATLANTA, March 6, 2012 /PRNewswire/ -- Purchasing Power, LLC., an e-commerce business that offers customers of its employee purchase program the opportunity to procure big-ticket items through the convenience of a payroll deduction, today announced the company's 2011 revenue grew more than a quarter over 2010.

Purchasing Power's success comes on the heels of a record holiday selling period that saw an astounding 48 percent increase over the same period in 2010. Additionally, the company increased its client base by 26 percent and its workforce by 18 percent. The majority of the company's new clients came from the healthcare industry, with an even distribution from education, manufacturing, retail, local government and business services, including several Fortune 1000 companies such as Sonic Automotive, Subaru of Indiana Automotive, Inc. and Kent State University.

"Given the economic conditions in 2011, our increased revenue, particularly over the holiday season, reflects the need for our customers to be able to access the products provided through the Purchasing Power program," said Richard Carrano, Purchasing Power CEO. "We have a bright future, and we are projecting that our success will continue in 2012 under the guidance of our new investment partner Rockbridge Growth Equity, LLC."

Carrano attributed Purchasing Power's continued success to the addition of new clients, a broader product offering across the computer, electronics, home appliance and furniture categories and an improved customer experience that resulted in increased order conversion. The company tripled the number of new products offered in its online catalog in 2011, including furniture for each room of the home, kitchen appliances, children's electronics, plus the latest tablets, computers, televisions, and electronics.

"Purchasing Power's unique servicing offering, combined with their focus on superior client service, continues to be the foundation of its growth," said Kevin Prokop, Rockbridge Growth Equity Partner.

In an effort to provide customers with value-added benefits with their purchases, Purchasing Power partnered with SquareTrade in October to provide a comprehensive warranty service on most computers, electronics, and home appliances offered through its employee purchase program.

About Rockbridge Growth Equity, LLC:

Rockbridge Growth Equity, LLC is a private equity firm that invests in financial and business services, consumer-direct marketing, and sports, media & entertainment industries. Based in Detroit, Michigan, Rockbridge owns equity stakes in Connect America, My Insurance Expert, Account Now, Protect America, Northcentral University, One on One Marketing and One Reverse Mortgage, and is affiliated with other leading businesses in its target sectors including Quicken Loans, the Cleveland Cavaliers, Title Source, Fathead, Xenith and ePrize. For more information on Rockbridge Growth Equity, visit www.rbequity.com.

About Purchasing Power, LLC

Headquartered in Atlanta, GA, Purchasing Power, LLC was founded in 2001 and offers customers an alternative to purchase a variety of name brand products and pay for them over 12 months through payroll deduction. Purchasing Power differentiates itself from traditional e-commerce retailers through its unique payment plan value proposition, strategic benefit broker partnerships, internal marketing expertise and superior customer service. The company has serviced more than 600,000 orders for employees of companies and organizations including Fortune 500 and government agencies. For more information, visit www.PurchasingPower.com.

CONTACT: Diana Mulhall, +1-404-609-5030, [email protected]

SOURCE Purchasing Power, LLC