ABS Capital Partners

Leader in On-Demand Personalization Skinit, Inc. Lands Seasoned Executive Bob King

San Diego, California – October 19, 2010 – Skinit, Inc., a leading provider of technology and products to customize personal electronic devices (PEDs) on-demand, announced today Bob King joined the company as CEO. With extensive experience leading rapidly growing companies, King’s expertise will lead the company through this time of rapid expansion as they continue to define the personalization market. This hire comes after a combined $60 million investment from ABS Capital Partners and Norwest Equity Partners. This is King’s second relationship with both firms, the first being when he was CEO of former portfolio company Corporate Express, a supplier of business-to-business office supplies and computer products of which both firms were investors.

“Personalization is important to both consumers as they look to maximize the value of their purchases and companies wanting to distinguish their products and give each customer a unique experience,” said King. “Skinit’s solution provides limitless opportunities for growth that I’m excited to explore and help bring the Company to the next level of success.”

King is best known for leading Corporate Express from 1993 to 2001, a period that saw the company grow from $50 million to $4.5 billion in revenue.  King was also the CEO at FoxMeyer Corp., where he led the company to be the third largest distributor of pharmaceuticals and health and beauty aids in the United States. He was also the CEO of a leading online retailer of digital products and a brand of food service ware made from renewable and recycled resources.

“I’ve worked with the Company for over two years, and this is a huge time of growth,” said Kevin Roberts, Chairman of the Board of Skinit. “Bob is the key ingredient for our company’s continued market leadership in this market.”

Skinit’s strategy is centered upon a technology platform that leverages a robust infrastructure, including patent-pending technology that integrates disparate functions and high quality 3M™ products, to bring on-demand personalization to consumers for their PEDs, including cell phones, PDAs, laptops and game consoles. The Company offers its product directly to consumers as well as through partnerships with PED manufacturers, wireless carriers and retailers. Since 2006, Skinit has sold more than 1.6 million skins and shells directly through its website and millions more through retailers and promotional programs. For direct consumers, Skinit.com and affiliate websites offer a library of licensed and proprietary artwork; Skinit also provides a Customizer tool that enables consumers to upload their own photos and manipulate designs for a custom product.
“We couldn’t be more thrilled to have Bob leading the company,” said Mark Anderson, Skinit board member and general partner at ABS Capital. “Having worked with him before, we know he will guide Skinit as it continues to innovate and lead the industry.”