RECENT ANNOUNCEMENTS

July 19, 2022
Press Release
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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
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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.

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November 10, 2020
Press Release
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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.