RECENT ANNOUNCEMENTS
March 6, 2024
Press Release
Parcrest Advises C.R. Chicks on its Growth Capital Investment by Blake Investment Partners and Luther Family Investments
JUPITER, FLORIDA, March 6, 2024 /PRNewswire/ --
Parcrest Advisors (“Parcrest”) served as the exclusive investment banking advisor to C.R. Chicks (the “Company”) on its growth capital investment by Blake Investment Partners (“BIP”) and Luther Family Investments. This newly formed partnership provides the Company with both capital, resources and a proven playbook for expansion given BIP’s real estate investment expertise and Jon L. Luther’s successful track record of growing fast food restaurant concepts including Dunkin’ Brands, Popeyes and Arby’s, and his illustrious affiliation with the Culinary Institute of America.
Headquartered in Florida with 7 restaurant locations and 1 commissary, C.R. Chicks is a “fast and fine” rotisserie chicken restaurant chain renowned for its exceptional dining and catering experiences, through its signature Rotisserie Chicken, Smoked Chicken with Penne Pasta (the “Smokey”), Chicken Breast Sandwich and Chocolate Chip Cookies. For more than 30 years, C.R. Chicks has retained a cult following of loyal customers in the Jupiter and West Palm Beach areas, famous for providing the highest quality dishes at an affordable price. From succulent rotisserie chicken, slow-roasted to perfection to an array of wholesome sides and salads, boasting vibrant colors and robust flavors, every dish at C.R. Chicks is a celebration of culinary craftsmanship and passion. Behind the scenes, the Company’s in-house commissary handles ingredient sourcing, quality control and skilled food preparation, providing significant operating leverage to the Company and its restaurant locations. Management’s collective commitment to excellence ensures that every visit to C.R. Chicks is a memorable journey.
“The Parcrest team played a crucial role in our journey to identify, select and negotiate with suitable partners over the course of our engagement. They provided invaluable support, aiding us daily in gathering the necessary information to effectively market our Company to hundreds of potential suitors amidst waning investor appetite for restaurant businesses. Additionally, bankers at Parcrest coached us before and during Management Presentations, which resulted in four final offers. Parcrest's adept negotiation and consensus building skills ensured we secured the best deal with the most suitable partner and alleviated the complexity of multiple stakeholders and legal entities. Notwithstanding the challenging lending environment, Parcrest effectively supported us through this transformative phase, ultimately culminating in an outcome that exceeded our expectations. We couldn't be happier with the end result,” said Christopher R. Sallen, Co-Founder of C.R. Chicks.
“We are thrilled to partner with C.R. Chicks, a restaurant concept that we have admired and enjoyed as customers over many years. Chris Sallen, Rick Davis and Keaton Davis have built an incredible business and culture, and it is one that deserves investment for continued expansion so that more people can enjoy what C.R. Chicks brings to the table. I am thankful to the professionals at Blake Investment Partners and Parcrest Advisors for putting this transaction together, and along with my Luther Family Investment partners, Jonathan Luther and Dan Bowers, are eager to contribute to this exciting new partnership!” remarked Jon L. Luther, former CEO & Chairman of Dunkin’ Brands.
“C.R. Chicks has been on our radar for years as an ideal investment target for our firm. Together with our partner, Luther Family Investments, we feel privileged to have the opportunity to build alongside such great people within the C.R. Chicks organization to grow the business in the years to come This transaction could not have been consummated without the help of Parcrest Advisors, who have demonstrated strong client advocacy, diplomacy and integrity from day one to close. We look forward to working with Parcrest again in the near future,” said Cole Sones, Partner of Blake Investment Partners.
“We are grateful to Chris Sallen and the Davis family for entrusting us with this very important transaction. Together as a team, we proactively tackled numerous headwinds during this process, which included complex shareholder dynamics, ongoing supply chain issues, cautious lenders, among others. We also benefited from working across the table from BIP and the Luther family, who were consistently solution driven, professional and transparent throughout. It took a village to close this transaction within a tight timeframe, and the collaboration we witnessed between client and investor bodes well for C.R. Chicks during its next chapter of growth,” stated James C. Lee, Founder and Managing Partner of Parcrest Advisors.
“Within our consumer and retail practice, Parcrest maintains a high bar when it comes to taking on clients within the restaurant sector. And C.R. Chicks checked all of the boxes, with solid financials, high margins, consistent growth and a scalable business model. While this transaction was originally intended to be a majority sale, we commend our client for seeing the bigger picture and pushing for a growth equity transaction, especially given the horsepower that BIP and Mr. Luther bring to the deal. We are excited to see what this newly formed partnership will accomplish over the next few years,” said Francisco Lume, Managing Partner of Parcrest Advisors.
About C.R. Chicks
Headquartered in Florida, C.R. Chicks is a “fast and fine” rotisserie chicken restaurant chain with 7 restaurant locations and 1 commissary strategically located across Jupiter and West Palm Beach. With a commitment to serving high-quality, flavorful dishes, C.R. Chicks has earned a loyal following and established itself as a leader in the regional rotisserie chicken market. In addition to its restaurant operations, the Company also provides catering to high profile customers including The Honda Classic and St. Louis Cardinals. For more information, please visit www.crchicks.com.
About Blake Investment Partners
Founded in 2003, Blake Investment Partners (“BIP”) is an alternative investments firm with expertise in real estate and private equity. BIP creates value by bringing strategic capital, vendors and operational leverage to its portfolio companies. With a focus on supporting the growth initiatives of its portfolio companies, Blake Investment Partners has a successful track record of partnering with exceptional management teams to unlock value and achieve long-term success.
About Jon L. Luther & Luther Family Investments
Jon L. Luther is a past Board Director at Inspire Brands and TempurSealy, and led an illustrious career in the fast food restaurant sector. Most notably, Mr. Luther served as CEO & Chairman of Dunkin’ Brands from January 2003 to 2013, where he led the revitalization and global expansion of two iconic brands: Dunkin’ Donuts and Baskin-Robbins. Previously, he was President of Popeyes where he grew store count by 67% to 1,672 units within six years. He is Chairman Emeritus of the Board of Trustees at The Culinary Institute of America. Mr. Luther’s son, Jonathan Luther is the founder and proprietor of JJ’s Red Hots in Charlotte, NC and has been featured on Diners, Drive-ins and Dives. Dan Bowers, also part of the Luther family, is a former successful multi store franchisee of Dunkin in South Florida and currently a franchisee of Sola Salons, also in South Florida.
About Parcrest Advisors
Parcrest Advisors is a rapidly growing investment bank based in New York City with a strong focus in the consumer and industrials sectors. In order to provide securities-related services discussed herein, 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.
January 10, 2024
Press Release
Parcrest Advises Leading Specialty Tinplate Packaging Manufacturer Allstate Can Corporation on its Sale to The Ohio Art Company
PARSIPPANY, NEW JERSEY, January 10, 2024 /PRNewswire/ --
Parcrest Advisors (“Parcrest”) served as the exclusive investment banking advisor to Allstate Can Corporation (“Allstate” or the “Company”) on the sale of 100% of its assets to The Ohio Art Company (“Ohio Art”). With over 100 years of heritage in the packaging sector, the Company offers a wide range of specialty tinplate packaging solutions across more than 20 distinct end markets and holds a particularly strong presence in sectors such as Chemicals & Petroleum, Cookies & Candy, and Children's Entertainment Products.
Headquartered in New Jersey with an additional manufacturing and distribution center in Nevada, Allstate Can Corporation, stands as one of the Country’s leading specialty tin cans manufacturers. The third-generation family-owned enterprise, steered by the Papera family, sets itself apart by its dedicated, customer-centric sales team, which enables the Company to tailor its services to meet unique client demands in a cost-efficient manner. Having built a reputation for delivering high-quality packaging solutions for over a century, Allstate has not only succeeded in retaining a loyal customer base but also continues to forge new business relationships and is now being further energized by a dynamic mix of young professionals and seasoned experts. The Papera family’s collective efforts have steered Allstate through consistent sales growth and profitability improvements, even in the face of multiple economic recessions over its history.
The Ohio Art Company has been one of the premier metal lithographers since its first lithography press was installed in 1915. The Bryan-Ohio based company, likely best known for the iconic Etch A Sketch toy, has been squarely focused on building its lithography business since selling the Etch A Sketch brand in 2016. Ohio Art specializes in precision printing and beautiful color reproduction and has a thorough understanding of Allstate’s business as they have been a customer for more than two decades, providing strong synergy and complimentary services, which will benefit its customers across all product categories.
The combined entities and assets will now provide Ohio Art with a comprehensive range of in-house services, encompassing steel sourcing, pre-press plate making, both conventional and UV coating and printing, metal stamping, full-service can-making, and warehousing. This broader set of capabilities and services equips Ohio Art (and Allstate) to better serve its customers and take advantage of a unique opportunity in the specialty tinplate can market.
“We are thrilled that Allstate becomes part of Ohio Art, a working partner we have interacted closely with for more than 20 years. Parcrest has demonstrated exceptional mastery of the M&A process with perfect positioning and storytelling, ability to get into the details of our company and business, strong rolodex with direct access to strategics and Private Equity capital, as well as remarkable negotiation and execution ability, bridging positions that sometimes felt too far apart” said Richard “Rick” Papera (President) and Ronald “Ron” Papera (Vice-President), third-generation owners of Allstate Can Corporation.
“This acquisition is a key step in our strategic business focus to meet growing customer demands, allowing us to develop production strategies to meet all of the metal packaging needs of current and prospective customers. And we couldn’t have found a better partner than the Allstate Can Corporation which, like The Ohio Art Company, has been focused on delivering high quality, professional products and services for more than a decade," said Elena West, Chief Executive Officer of the Ohio Art Company.
“These are exciting times for both The Ohio Art Company and Allstate Can Corporation, as we meet market demands with a broader set of capabilities and services and continue to build our business in a meaningful manner. We are thankful to the Papera family who have founded and grown this business significantly over the years as well as to their bankers Parcrest Advisors, who were able to run a fair, well-structured competitive process and to create value each step of the way and throughout negotiations,” said Martin Killgallon, President of The Ohio Art Company.
“I am delighted with this outcome as it creates a stronger player in this important packaging segment while satisfying the desires of all stakeholders. We are particularly grateful to the Papera family for entrusting us with this important endeavor,” said Francisco Lume, Managing Partner of Parcrest Advisors. “The context around this transaction was particularly challenging with the company adjusting for normalized steel and tinplate prices and a high inflation and interest rate environment. We were particularly apt in translating a complex story with multiple layers into several building blocks that supported a story of consistent growth and margin expansion.”
“This deal represents yet another successful transaction within Parcrest’s packaging practice, and exemplifies our firm’s commitment, perseverance and advocacy on behalf of our clients. We are honored to have been selected to advise on this important, complex transaction from which will emerge a much stronger player within the packaging sector,” said James C. Lee, Founder and Managing Partner of Parcrest Advisors.
About Allstate Can Corporation
Headquartered in New Jersey, Allstate Can Corporation is a well-established specialty tin can packaging Company with 100+ years of heritage in the sector, operating in multiple customer and product segments, and offering a variety of can types, such as interior seal, tapered, friction, seamless, slip cover, hermetic sealed, decorative and custom/printed cans. Further information about Allstate can be found at www.allstatecan.com.
About The Ohio Art Company
Established in 1908 and headquartered in Bryan, Ohio, The Ohio Art Company is a leader in decorated metal lithography for metal packaging products and was once one of the largest metal toy manufacturers in the world – behind names such as Etch-A-Sketch and Betty Spaghetty. Further information about Ohio Art can be found at www.ohioart.com.
About Parcrest Advisors
Parcrest Advisors is a rapidly growing investment bank based in New York City with a strong focus in consumer and industrials sectors. In order to provide securities-related services discussed herein, 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.
July 19, 2022
Press Release
Parcrest Advisors Completes Marquee Automotive Aftermarket M&A Transaction between 3D Car Care and MPE Partners
NEW YORK, NEW YORK, July 19, 2022 /PRNewswire/ --
Parcrest Advisors (“Parcrest”) served as the exclusive investment banking advisor to 3D Car Care (“3D” or the “Company”) on its strategic investment from MPE Partners ( “MPE” or “Morgenthaler Private Equity”) along with MPE’s portfolio company Hi-Tech Industries (“Hi-Tech”). 3D is globally recognized as the highest quality brand of car care and automotive detailing products, comprised of compounds, polishes, ceramic coatings, cleaning supplies and accessories. The Company manufactures the highest grade compounds and polishes out of its Santa Clarita, California headquarters and operates multiple facilities in California, Ohio and Florida. Selling through professional detailing, body shop and e-commerce channels, 3D continues to grow its current presence in over 26 states and 57 countries around the world.
Founded in 1996, 3D has evolved to become a global, recession resistant, multi-channel business with a strong foundation to drive exponential growth. In the past three years, the Company has invested in building a best-in-class abrasives manufacturing operation, opened Ohio and Florida warehouses and launched its own direct-to-consumer website.
“Engaging Parcrest Advisors has been one of the best decisions our family could have made. Integrity, transparency and unrelenting advocacy through every twist and turn of this journey sets Parcrest apart from other financial institutions. Bankers at Parcrest stood by our story and our values, and crafted a competitive process with numerous qualified strategic and financial investors. This gave us a unique opportunity to choose the best partner for the future of 3D,” said Tunch Goren, Founder and Chief Executive Officer of 3D.
“We were very pleased to work with Parcrest, who played a critical role in running a fair, efficient process and ultimately ensuring a successful outcome for all parties involved. MPE views 3D as highly complementary to its previous investment in Hi-Tech Industries, where significant opportunities exist for commercial collaboration. We are excited to have the opportunity to partner with 3D on the next chapter of its evolution.” stated Constantine Elefter, Principal at MPE.
“Happy for the Goren family and excited about the new journey ahead for 3D. The combination of 3D and MPE is a perfect match allowing the Goren family to maximize proceeds and to partner with value-added capital that enables the company to achieve new heights. We are excited to have had the opportunity to advise on the sale of such a high-quality business and premium asset and remain enthusiastic about the brand and possibilities ahead,” said Francisco Lume, Managing Partner at Parcrest Advisors.
“This particular transaction represents a milestone deal for Parcrest. Our process resulted in a premium valuation in the automotive aftermarket sector, which continues to be a significant focus for Parcrest. We are honored to have been entrusted with this important responsibility and pleased to have delivered a fortuitous outcome for the Goren family, 3D and MPE,” stated James C. Lee, Founder and Managing Partner of Parcrest Advisors.
About 3D Car Care
3D Car Care is a globally recognized brand of the highest quality car care and auto detailing products to the professional detailing, body shop and e-commerce channels. The Company manufacture and sells compounds, polishes, ceramic coatings, cleaning supplies and accessories. Further information about 3D can be found at www.3Dproducts.com.
About Hi-Tech Industries
Headquartered in Farmington, MI, Hi-Tech is a leading provider of innovative car care accessories, appearance liquids, and specialty aerosols. With over 2,300 SKUs sold across eight highly-recognized brands, Hi-Tech is the preeminent one-stop solution in the detailing and reconditioning market. For more information, please visit www.htiusa.com.
About Morgenthaler Private Equity
Morgenthaler Private Equity seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with transaction values up to $250 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, please visit www.mpepartners.com.
About Parcrest Advisors
Parcrest Advisors is a rapidly growing investment bank based in New York City with a strong focus in consumer and industrials sectors. In order to provide securities-related services discussed herein, 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.
April 20, 2021
Press Release
Parcrest Advisors Successfully Completes Industrial Distribution Transaction with Commercial Energy Specialists Receiving a Strategic Investment from Turning Basin Capital
JUPITER, FLORIDA, April 20, 2021 /PRNewswire/ --
Parcrest Advisors (“Parcrest”) served as the exclusive investment banking advisor to Commercial Energy Specialists (“CES” or the “Company”) on its investment from Turning Basin Capital (“TBC”). CES is a pioneer and leading provider of Service Supported Distribution® water treatment solutions for thousands of institutional and commercial swimming pools, spas, water parks, water features, and industrial process water clients. Based in Jupiter, Florida, CES distributes water treatment products which include chemical treatment packages, filtration systems, heater systems, pumps, saline and ultraviolet systems, aquatic lifts, and heaters and covers. Value-added services include engineering and design support; full factory commissioning; on-site preventative maintenance, service and support; and operator training and certification.
CES was founded in 1983 by Cuban American entrepreneurs Alvaro and Francisco Mendoza, who originally built the business as the commercial division of a highly successful solar energy contracting company. Within the first two years of operation, the Company secured Palm Beach County Parks, Walt Disney World and The Breakers Palm Beach as high profile customers that have stayed with CES for nearly four decades. In recent years, the Company has become the de facto standard for swimming pool water quality treatment programs with its trademarked Q5® Aquatic Rating System, and helped develop the most extensive real-time pool monitoring program in the industry.
During the Coronavirus pandemic, the Company experienced headwinds with theme parks and cruise lines going offline. However, the business maintained profitability and replaced “paused” revenue streams with new customers in new markets. In spite of the pandemic disrupting an otherwise robust M&A process facilitated by Parcrest Advisors, CES successfully closed on its transaction with TBC.
“We were blessed to have selected Parcrest Advisors to lead us through this process. We had specific goals of finding the perfect capital partner to help take our platform company to the next level. They helped us prepare, performed a robust search of highly qualified potential partners, and skillfully weeded out investors who would not properly align with our long-term vision and corporate culture. We couldn’t have done it without them as a driving force in this successful outcome,” said Alvaro Mendoza, CEO and Co-founder of CES.
“We are excited to partner with CES, which will serve as our platform company that has significant runway to gain scale in its niche market by way of both organic and inorganic growth. We applaud Parcrest’s role in putting this deal together, which required finesse and diplomacy in negotiating complex deal points to ensure a win-win outcome for all parties,” stated Tom Willingham, Managing Partner at Turning Basin Capital.
“I couldn’t be more satisfied with this outcome for Alvaro and his team for successfully forming this partnership, and its enormous potential going forward. It was a true pleasure to work with Alvaro from conceptualization to execution and closing of this M&A process. We continue to see a significant opportunity in Industrial Distribution, and CES is yet another example of our thesis of consolidation potential within this sector,” said Francisco Lume, Managing Partner at Parcrest Advisors.
“Parcrest proudly continues to find success in negotiating successful closings on behalf of our valued clients in spite of a worldwide pandemic. Transparency, trust and perseverance have been the key driving principles of our firm, as well as those of our counterparties, that have led to this fantastic result,” stated James C. Lee, Founder and Managing Partner of Parcrest Advisors.
About Commercial Energy Specialists
CES is a leading provider of water treatment solutions to institutional and commercial swimming pools, spas, water parks, water features, and industrial process water clients. For nearly four decades, CES has served as a value-added partner to longstanding customers by championing its trademarked Service Supported Distribution® model. Further information about CES can be found at www.ceswaterquality.com.
About Turning Basin Capital
Turning Basin Capital is a private equity firm with a unique focus on lower-middle market companies providing services and products to the critical infrastructure, energy, health and safety, and environmental protection and compliance market sectors. TBC provides capital and strategic support, working with its partner management teams, to drive growth and long-term value creation. For more information, visit www.turningbasin.com.
About Parcrest Advisors
Parcrest Advisors is a rapidly growing investment bank based in New York City with a strong focus in consumer and industrials sectors. In order to provide securities-related services discussed herein, 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.
March 16, 2021
Press Release
Parcrest Advises Anheuser-Busch on the Sale of its Houston-based Longhorn Packaging Glass Operations to the Ardagh Group
LONGHORN, TX, March 16, 2021 /PRNewswire/ --
Parcrest Advisors (“Parcrest”) served as the exclusive investment banking advisor to Anheuser-Busch (“A-B”) on the sale of its Houston-based Longhorn Glass manufacturing facility (“Longhorn”) to Ardagh Group (“Ardagh”). The transaction will help to ensure the long-term health and viability of the Longhorn facility, which supplies bottles to A-B’s Houston brewery.
The transaction is comprised of the outright sale of the glass packaging operations combined with a long-term supply agreement between Ardagh and Anheuser-Busch, allowing Longhorn to continue supplying A-B breweries with top-quality glass bottles. Ardagh will also be investing in the modernization and upgrade of the facility as the life of its existing production furnace comes to an end.
Maintaining excellence throughout the supply chain remains a top priority for Anheuser-Busch and it was paramount to find a suitable partner with a clear vision for the Longhorn facility and its workforce. Ardagh’s expertise in the glass manufacturing space, currently operating 33 glass manufacturing facilities in North America and Europe, makes them the perfect partner for the long-term future of Longhorn.
“We are grateful to have been entrusted with the sale of A-B’s Longhorn glass operations and helping find a solution for A-B, its Houston brewery and Longhorn’s workforce. The Packaging sector continues to be at the forefront of our investment banking efforts and active coverage, with sustainable glass being an important segment of this sector. This complex carveout transaction involving an outright sale, a long-term supply agreement and a transition services agreement is an example of where we excel the most and add value to our clients,” said Francisco Lume, Managing Partner of Parcrest Advisors.
“This transaction exemplifies our firm’s ability to execute and deliver for a marquee client like Anheuser-Busch, especially during the COVID-19 pandemic where many M&A transactions have faced difficulties getting across the finish line. I am proud of our team and look forward to putting our best foot forward for all of our clients,” stated James C. Lee, Founder and Managing Partner of Parcrest Advisors.
About Anheuser-Busch
For more than 165 years, Anheuser-Busch has carried on a legacy of brewing great-tasting, high-quality beers that have satisfied beer drinkers for generations. Today, Anheuser-Busch owns and operates more than 120 facilities, including breweries, wholesaler distribution centers, agricultural facilities and packaging plants, and have more than 19,000 employees across the United States. Anheuser-Busch is home to several of America’s most recognizable beer brands, including Budweiser, Bud Light, Michelob ULTRA and Stella Artois, as well as a number of regional brands that provide beer drinkers with a choice of the best-tasting craft beers in the industry.
About Parcrest Advisors
Parcrest Advisors is a rapidly growing investment bank based in New York City with a strong focus in consumer and industrials sectors. In order to provide securities-related services discussed herein, 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.
November 10, 2020
Press Release
Parcrest Advises Leading Skincare Tools Brand
Trophy Skin on its Sale to Formula 5
FRISCO, TX, November 10, 2020 /PRNewswire/ --
Parcrest Advisors (“Parcrest”) served as the exclusive investment banking advisor to Trophy Skin (or the “Company”) on its sale to Formula 5. Trophy Skin is a high-growth and differentiated direct-to-consumer skincare brand providing at-home skincare solutions such as microdermabrasion, light therapy, and ultrasonic infusion.
Headquartered in Frisco, Texas, Trophy Skin is a highly profitable prestige beauty brand that
sells through multiple channels, including direct-to-consumer via TrophySkin.com, TV shopping via QVC and HSN, online portals of major retailers, and e-commerce marketplaces including Amazon. The Company’s flagship product is MicrodermMD, which is an at-home microdermabrasion system that is tremendously effective in reducing wrinkles, blemishes, and acne scars. Another key product is the RejuvaliteMD, an at-home light therapy device which stimulates collagen production, lightens age spots, reverses sun damage, and reduces wrinkles.
“I am fortunate to have entrusted Parcrest Advisors with the sale of my company, which I have spent the past decade building. 24/7 accessibility, transparency and integrity appear to be hallmarks of these bankers, who helped demystify the highly complex, time consuming M&A process. Constant senior level attention as well as compelling brand positioning and constructive negotiation approach yielded an outcome that significantly exceeded my expectations,” said Imran Karim, Founder and CEO of Trophy Skin.
“Consumer platforms are uniquely positioned to capitalize on the rapidly evolving trends in consumer purchasing behavior by acquiring disruptive consumer brands into their portfolio. We anticipate continued consolidation within various segments of the consumer landscape, especially those with strong direct-to-consumer and e-commerce capabilities,” said Francisco Lume, Managing Partner of Parcrest Advisors.
“We are grateful to have had the opportunity to deliver a synergistic strategic outcome for Imran, particularly during a worldwide pandemic where M&A transactions are difficult to pull off. With multiple transactions currently in the market, we are constantly adjusting to changing investor sentiments and financing conditions, and finding creative ways to drive transactions to a close,” stated James C. Lee, Founder and Managing Partner of Parcrest Advisors.
About Trophy Skin
Trophy Skin is a leading skincare tools brand that provides at-home devices providing microdermabrasion, light therapy, and ultrasonic infusion. The Company sells its products primarily direct-to-consumer via the Company’s website and Amazon and through TV shopping channels such as QVC and HSN.
About Parcrest Advisors
Parcrest Advisors is a rapidly growing investment bank based in New York City with a strong focus in consumer and industrials sectors. In order to provide securities-related services discussed herein, 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.