Etix founder returns as CEO in management-led buyout

Etix, which launched in 2000 and landed Raleigh-based Southern Capitol Ventures among its earliest investors, is back under the control of founder Travis Janovich.

Janovich had stepped aside in 2012 but last week he resumed control, leading a management-led buyout that was funded in part by investor OFS Capital.

“I raised money to start this company 15 years ago and had a great investor base, “ Janovich told Venues Today in an interview. “This was an opportunity to give them liquidity. I brought in a group, a larger capital base, as an investor. They will deploy more capital as needed. It worked out for everyone.”

Southern Capitol invested $1 million in Etix in 2008.

Joe Kustelski, the CEO after 2012, led Etix in what was called an amicable departure.

Janovich said a key to the deal is that other managers at the company are committed to staying at Etix.

Etix generates more than $30 million a year and has more than 100 employees. It’s growing at 20 percent a year. It processes morfe than 50 million tickets a year in some 40 countries and has some 1,800 clients.

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

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