Lincoln International Represents Saugatuck Capital in the sale of TharpeRobbins Company to Gridiron Capital
CHICAGO, March 31, 2010 – Lincoln International (“Lincoln”), a leading global mid-market investment bank, today announced that TharpeRobbins Company, Inc. (“TharpeRobbins” or the “Company”), a portfolio company of Saugatuck Capital Company (“Saugatuck Capital”), has been sold to Gridiron Capital, LLC (“Gridiron”). Lincoln advised Tharpe Robbins and Saugatuck Capital in the transaction, the terms of which were not disclosed.
TharpeRobbins is a leader and an innovator in the recognition industry, with a client list including many of the world’s largest corporations. The Company is responsible for a number of industry firsts, ranging from the introduction of choice award programs, to the application of technology to improve program results. TharpeRobbins’ mission is centered on fostering superior performance in organizations by creating new standards for employee recognition and rewards through imaginative solutions, flawless execution, professional services and world-class technology.
“Following our strong performance and growth over the past several years, the infusion of capital from Gridiron will help us grow to the next level,” said Brett Tharpe, President and CEO of TharpeRobbins. “We look forward to a strong partnership. Together, we are poised for an even stronger track record of growth through expansion into new markets and through innovative new programs, superior customer service and cutting edge technologies.”
The sale of TharpeRobbins is another key credential in Lincoln’s highly active business services practice. Tom Berardino, Managing Director at Saugatuck Capital said, “Lincoln’s understanding of the Company’s unique service delivery business model and its strong relationships with the right potential acquirers positioned its people to provide expert advice throughout the process resulting in attractive alternatives for the shareholders and management.”
About TharpeRobbins
TharpeRobbins was formed in 2007 through the merger of The Tharpe Company, founded in 1981, and The Robbins Company, founded in 1892. For more than 100 years, TharpeRobbins’ rich history as an innovator has covered the breadth of managed reward and recognition programs. The Company has built its reputation on developing recognition programs tailored to help its clients reach their employee attraction and retention goals. TharpeRobbins’ headquarters are located on a 25-acre campus in Statesville, North Carolina and include an extensive showroom and state-of-the-art distribution facility. The Attleboro, Massachusetts ISO-certified operations include creative services, software development and jewelry manufacturing (www.tharperobbins.com).
About Saugatuck Capital Company
Founded in 1982, Saugatuck Capital is a long-established private investment firm committed to leveraged recapitalizations, buyouts, and growth equity investments in the lower middle-market. Sourcing investment opportunities through an unparalleled network of contacts, Saugatuck invests in profitable, well-established, service-driven businesses. The firm has been dedicated to a philosophy of hands-on value creation in which exceptional management teams, in partnership with Saugatuck’s capital and expertise, build outstanding companies. Additional information about Gridiron is available on the firm’s website at www.saugatuckcaiptal.com.
About Gridiron Capital
Gridiron Capital, LLC, headquartered in New Canaan, Connecticut, is a private equity firm focused on creating value by acquiring and building middle-market manufacturing, service and specialty consumer companies in the United States and Canada. The firm’s principals have historically achieved superior results by employing a combination of strategic, operating and financial experience to provide portfolio companies with competitive advantages. Gridiron’s principals work closely with management teams to develop strategies for portfolio companies, as well as providing resources to execute business plans and build industry-leading companies. Additional information about Gridiron is available on the firm’s website at www.gridironcapital.com.
About Lincoln International
Lincoln International specializes in merger and acquisition advisory services, private capital raising, and restructuring advice on mid-market transactions. Lincoln International also provides fairness opinions, valuations and pension advisory services on a wide range of transaction sizes. With 10 offices in Asia, Europe and North America, and strategic partnerships with leading institutions in China and India, Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com.
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