Vertigo Group hoping for 11th hour strategic investment, or all over
September 22, 2009 by Dave Haynes
Ralph Idems is one of the truly, truly nice people in this industry, and I was saddened and frustrated to read recently chatter that the out of home sector had grown so wobbly through the recession that his business, Vertigo Group, had been forced to declare bankruptcy.
Idems and business partner Chris Bolton had built up a healthy top tier client portfolio among the major out of home companies in North America and Europe, building weather-sealed and rugged enclosures from backlit and more recently LCD-driven mall and street advertising signs. The Toronto-based company, among other things, engineered the enclosures that are used by that company that has screens on bus shelters along Las Vegas Boulevard. About 10,000 ad faces in North America were made by Vertigo.
The company was known for its high quality and therefore BMW pricing in a marketplace that, if there was buying going on, was looking for the lowest bidder. There is a massive pipeline in hand but the working capital was not there to go after it.
Ralph sent me a note asking if I could mention what was up.