Lincoln International Represents Nashua Corporation in its Sale to Cenveo, Inc.
CHICAGO, September 15, 2009 – Lincoln International, a leading global middle-market investment bank, today announced that Nashua Corporation (NASDAQ: NSHA) (“Nashua” or the “Company”) has been acquired by Cenveo, Inc. (NYSE: CVO) (“Cenveo”). The transaction was previously announced on May 7, 2009. The stock and cash transaction resulted in the Company’s shareholders receiving (i) $0.75 per share in cash and (ii) 1.265 shares of Cenveo common stock. Lincoln International acted as the exclusive financial advisor to Nashua and also rendered a fairness opinion to the Board of Directors of Nashua.
Founded in 1849, Nashua, with annual revenues of $265 million in 2008 and operations across the United States, is a recognized leader in the label and specialty paper markets. This combination is expected to strengthen Cenveo’s position in the pharmaceutical and shelf label market as well as to expand upon Cenveo’s position in the point of sale and wide-format printing markets.
Lincoln International worked closely with Nashua’s Board of Directors, senior management and shareholders throughout the sale process and performed an in-depth analysis and valuation of the business to provide a fairness opinion in connection with the transaction. Services provided by Lincoln International included providing advisory expertise and managing the preparatory, negotiation and due diligence phases of the transaction.
“Lincoln International was an invaluable partner throughout the sale process” said Thomas G. Brooker, President and CEO of Nashua. “Lincoln’s extensive transaction experience and deep knowledge of the situation and parties involved culminated in an outstanding result for the shareholders of Nashua Corporation.”
“Lincoln’s fairness opinion to the Board of Directors of Nashua Corporation demonstrates Lincoln’s growing fairness opinion practice to publicly traded companies,” remarked Patricia Luscombe, Managing Director with Lincoln International and one of the leaders in its fairness opinion practice.
About Nashua Corporation
Nashua manufactures and markets a wide variety of specialty imaging products and services to industrial and commercial customers to meet various print application needs. Nashua’s products include thermal coated papers, pressure-sensitive labels, bond, point of sale, ATM and wide format papers, entertainment tickets, and ribbons for use in imaging devices. Additional information about Nashua can be found at www.nashua.com.
About Cenveo, Inc.
Cenveo, Inc. (NYSE: CVO), headquartered in Stamford, Connecticut, is a leader in the management and distribution of print and related products and services. Cenveo provides its customers with low-cost solutions within its core businesses of commercial printing and packaging, envelope, form, and label manufacturing, and publisher services; offering one-stop services from design through fulfillment. Cenveo delivers everyday for its customers through a network of production, fulfillment, content management, and distribution facilities across the globe. For more information on the company, visit Cenveo’s website at www.cenveo.com.
About Lincoln International
Lincoln International specializes in merger and acquisition services, private capital raising, and providing fairness opinions and valuations for leading organizations involved in middle-market transactions. With offices in Chicago, Frankfurt, London, Los Angeles, Madrid, New York, Paris, Vienna and Tokyo, and strategic partnerships with China Everbright and other partner firms in Asia, 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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