Investment Banking Services and Securities offered through Independent Investment Bankers Corp. a broker-dealer, Member FINRA/SIPC. Parcrest Partners LLC (dba Parcrest Advisors) is not affiliated with Independent Investment Bankers Corp.

PRESS RELEASES & ANNOUNCEMENTS

May 17, 2018
Deal Announcement

Parcrest Advises Leading E-Commerce & Omnichannel Retailer CleverTraining on its Sale to JackRabbit

Parcrest Has Closed 3 Deals in the Last 8 Months as the Firm Rapidly Expands

DENVER, TAMPA, and NEW YORK CITY, May 17, 2018 /PRNewswire/ --

 

The principals of Parcrest Advisors (“Parcrest”) have acted as the exclusive investment banking advisors to CleverTraining on its sale to JackRabbit (“JackRabbit”). JackRabbit is a national specialty retailer of athletic goods backed by CriticalPoint Capital (“CPC”). The deal brings together two specialty omnichannel fitness gear and technology retail leaders.

 

Over the last decade, CleverTraining rapidly grew into a multichannel & international retailer providing a curated product selection to fitness enthusiasts across multiple sports and activities (e.g., triathletes, endurance athletes, outdoor enthusiasts).

“We are pleased to have worked with Parcrest Advisors in completing this deal. They served as trustworthy advisors who drew on a deep well of experience and knowledge in e-commerce,” said Andrew McSwain, Co-Owner of CleverTraining.

 

“CleverTraining is a perfect addition to our company to further our commitment to offering the most complete product offerings and experiences to the active lifestyle enthusiasts,” said Bill Kirkendall, CEO, JackRabbit.

“The CleverTraining management team has thoroughly impressed us with their ability to reach and inspire their dedicated customer base,” stated CPC Partner Brad Holtmeier.

 

“This is a great merger between two active lifestyle retail brands and our firm will continue to build upon its momentum with even more deals to come,” said James C. Lee, Co-Founder and Managing Partner of Parcrest Advisors.

 

“We are grateful to have had the opportunity to utilize our extensive background in e-commerce and omnichannel retail M&A in facilitating this accretive deal between CleverTraining and JackRabbit,” said John Z. Fang, Co-Founder and Managing Partner of Parcrest Advisors.

 

About CleverTraining


CleverTraining is an omnichannel retailer of fitness gear and technology. From cycling to swimming and everything in between, its products span the spectrum of team and individual sports, as well as outdoor activities. 

 

About JackRabbit

JackRabbit currently operates 60 athletic specialty stores in 16 states, the e-commerce sites www.jackrabbit.com and www.clevertraining.com and Rogue Training Powered by JackRabbit.

 

About CriticalPoint Capital

Founded in 2012, CriticalPoint Capital is a private investment firm based in Manhattan Beach, CA.  The firm is focused on acquiring companies with long-term value creation opportunities and with management teams that can benefit from patient capital and a thoughtful approach to growth.

 

About Parcrest Advisors

 

Parcrest Advisors is a multidisciplinary cross-border investment bank based in New York City co-founded by James C. Lee and John Z. Fang. In order to provide securities-related services discussed herein, certain principals of Parcrest are licensed with Independent Investment Bankers, Corp. member FINRA & SiPC. Independent Investment Bankers, Corp. and Parcrest are not affiliated entities. Further information about Parcrest is available at www.parcrest.com.

December 21, 2017
Deal Announcement

Parcrest Advises Medical Simulation Corporation on the Sale of its Medical Products Division to Mentice
 

DENVER, GOTHENBURG, Sweden and NEW YORK, Dec. 21, 2017 /PRNewswire/ -- 

The principals of Parcrest Advisors ("Parcrest") have acted as the exclusive investment banking advisors to Medical Simulation Corporation on the strategic cross-border sale of its Medical Products division ("MSC") to Mentice AB ("Mentice").

The transaction will create the world's most advanced endovascular medical simulation technology company, with a global client base in both blue chip medical device companies and renowned teaching hospitals.

Based in Denver, Colorado, MSC's simulation products help improve patient outcomes, reduce patient mortality, and lower the cost of healthcare delivery. Mentice is a Sweden-based global market leader in the medical simulation market with cutting-edge technology backed by 40 patents (representing the world's largest medical simulation patent portfolio) and 120+ scientific papers.

"We truly enjoyed working with John Z. Fang and James C. Lee of Parcrest Advisors in consummating this strategic sale," said Mary Beth Loesch, CEO of MSC. "Given their extensive cross-border experience in simulation technology, we could not have been better advised."

"Medical simulation is a multibillion dollar global market with tremendous growth potential. Thousands of lives will be saved as this technology is used to train medical practitioners," said John Z. Fang, Co-Founder and Partner of Parcrest. "We were glad to advise MSC on its transaction with Mentice and will build upon this deal and our principals' previous experience in advising Simbionix on its merger with 3D Systems to continue our track record as a leading investment banking boutique in the field of simulation technology."

About MSC

Medical Simulation Corporation is a global healthcare leader providing education services, including consulting, online courseware and simulation training in areas that are most impactful to hospitals and their patients such as sepsis and stroke. MSC's Advanced Clinical Quality Solutions enable multi-disciplinary healthcare team performance improvement with a focus on standardizing care delivery and creating clinical and cost-control results. MSC's education offerings are customized to meet the needs and challenges hospitals face daily, creating success by improving patient outcomes, decreasing patient mortality and reducing cost of healthcare delivery. www.medsimulation.com

 

About Mentice

 

Mentice is a leader in virtual reality‐based interventional medical simulation solutions. Its solutions help healthcare professionals with skills acquisition, continuous development and preprocedural planning—leading to improved productivity and outcomes. Mentice solutions are scientifically validated, and have been specifically developed for healthcare providers and the medical industry. www.mentice.com

About Parcrest Advisors

Parcrest Advisors is a multidisciplinary cross-border investment bank based in New York City. In order to provide securities-related services discussed herein, certain principals of Parcrest are licensed with Burch & Company, Inc. member FINRA & SiPC. Burch & Company and Parcrest are not affiliated entities. Further information about Parcrest is available at www.parcrest.com.
 

August 28, 2017
Deal Announcement

Parcrest Advisors, a Newly Formed Investment Banking Boutique, Advises Allied Vision Group on its Sale to Hammond, Kennedy, Whitney & Company

Allied Vision Group to Emerge as Leading Independent Unaffiliated Distributor of Contact Lenses and Pet Medications under New Ownership with Additional Capital Resources to Drive Growth
 

FORT LAUDERDALE, Fl., INDIANAPOLIS, and NEW YORK CITY, August 28, 2017 /PRNewswire/ -- 

The principals of Parcrest Advisors (“Parcrest”) have acted as the exclusive investment banking advisors to Allied Vision Group (“Allied”) on its sale to Hammond, Kennedy, Whitney & Company, Inc. (“HKW”). Parcrest Advisors is an investment banking firm based out of New York City.  Vedder Price P.C., led by New York shareholder Denise Tormey, served as lead counsel for Allied Vision Group. The transaction will enable Allied to transition its ownership to a new generation of leaders and to fund its growth as a leading distributor of contact lenses, optical products, and pet medications.

 

Co-Founded in 1989 by Bob Tardell and Jules Saland and headquartered in Fort Lauderdale, Florida, Allied Vision Group is one of the largest independent distributors of contact lenses and pet medications, wholesaling to a broad network of optical retailers and practitioners.

 

“We are extremely pleased to have worked with John Z. Fang and James C. Lee of Parcrest Advisors in completing this momentous transaction,” said Bob Tardell, Co-Owner & Co-Founder of Allied. “Parcrest’s principals combined their deep knowledge of the optical, healthcare, and distribution industries with inexhaustible passion and creativity to help us find the right partner in HKW.”

 

“Our sustained operational efforts combined with Parcrest’s excellent advisory work helped us find the best M&A solution. We believe that HKW is the best firm to take us to the next level of growth, with more than a century of excellence and significant healthcare expertise,” said Harvey Berkowitz, longstanding President and newly named CEO of Allied.

 

“We are excited to partner with Harvey, Bob and the entire AVG team as they continue to service the growing online and healthcare practitioner market,” said John Carsello, Partner at HKW.

 

“We are grateful to have had the opportunity to utilize our deep industry knowledge, transactional experience, and entrepreneurial creativity to advise Allied on this important deal. We believe that there will be continued global consolidation in the optical and pet medication markets and see meaningful M&A activity in the near future. As veteran investment bankers and founders ourselves, we have tried to bring a unique set of values and work ethic to deliver results for Allied,” said John Z. Fang, Co-Founder and Partner of Parcrest Advisors.

 

“This transaction represents an important milestone for Parcrest Advisors as it provides validation of the firm’s vision and strategy.  We are pleased that it closed so soon after Parcrest’s founding and look forward to continue to deliver successful outcomes for our existing portfolio of global clients,” said James C. Lee, Co-Founder and Managing Partner of Parcrest Advisors.

About Allied Vision Group


Allied Vision Group is a leading wholesaler of contact lens, optical, and pet medication products based in Fort Lauderdale, Florida. Founded in 1989, it services a wide customer base of healthcare practitioners and retailers.

 

About Hammond, Kennedy, & Whitney, Inc.
 

HKW is a private equity firm founded in 1903 with offices in Indianapolis and New York. Since 1982, HKW has sponsored 54 platform transactions of lower middle-market companies throughout North America, as well as 61 add-on acquisitions. For further information on HKW, please visit www.hkwinc.com.

 

About Vedder Price, P.C.

 

Vedder Price is a thriving, 300-lawyer firm with seven offices worldwide. The firm offers a unique mix of finance, corporate, and litigation skills, including market-leading practices in global transportation finance, middle-market finance/M&A, and more. For more information, visit www.vedderprice.com.

 

About Parcrest Advisors

Parcrest Advisors is a multidisciplinary cross-border investment bank based in New York City. In order to provide securities-related services discussed herein, certain principals of Parcrest are licensed with Burch & Company, Inc. member FINRA & SiPC. Burch & Company and Parcrest are not affiliated entities. Further information about Parcrest is available at www.parcrest.com.