Hobbico, Inc. has been sold to Horizon Hobby, Estes Industries and Quantum Capital Partners
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce the sale of substantially all of the operating assets of Hobbico, Inc. (“Hobbico” or the “Company”) in three separate transactions pursuant to section 363 of the bankruptcy code to affiliates of Horizon Hobby, Estes Industries and Quantum Capital Partners AG.
Based in Champaign, Illinois, Hobbico designs and distributes radio-controlled and general hobby products globally. The Company offers a broad range of radio-controlled vehicles, models (miniature representations) of various iconic vehicles and rockets, as well as related accessories and general hobby products. The Company’s products are sold through a vast network of independent hobby dealers, big-box retailers and online. Lincoln served as the exclusive investment banker to Hobbico and worked closely with the management team and various stakeholders through the chapter 11 bankruptcy and section 363 sale processes. This involved a comprehensive evaluation of strategic alternatives that ultimately resulted in the sale of Hobbico’s various operating businesses to three different acquirers, including one located in Germany.
Alex Stevenson, Managing Director at Lincoln International, commented, “We are glad to have helped successfully close the transactions and preserve a collection of brands with a rich and iconic history in the hobby industry. Each business is now well positioned for long term growth under its new ownership. We also thank professionals at CR3 Partners; Neal, Gerber & Eisenberg LLP; and Morris, Nichols, Arsht & Tunnell LLP for working collaboratively with Lincoln to achieve the best possible outcome.”
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