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Flojos Under New Ownership, Positions Brand For Continued Growth

The Courtney Group Acquires 30 Year-Old Sandal Brand

Thousand Oaks, CA, Jan 9, 2017 – The Courtney Group, Inc. has acquired Flojos (“flo-hos”) a family owned business from husband/wife team Nellie and Sheng Yen Lin. John Dickinson, a Footwear industry executive is an investor and CEO of the company.

Flojos was established in the early 1970’s by the Santana Family in Guadalajara, Mexico. Its flip-flops were made in Mexico and introduced to the surf community in San Diego, California. Early on, the company introduced its classic sandal 101 Flojos, a crisscross style with cross straps that became an iconic product and helped Flojos grow rapidly. Nellie and Sheng Yen Lin acquired Flojos in 1996 and experienced steady growth, expanding the brand from predominantly men’s to both men’s and women’s footwear.

The Courtney Group, Inc. is a private equity firm based in Newport Beach, California, with a track record of successfully backing CEOs in acquisitions. Tom Courtney, President of The Courtney Group said, “We acquired Flojos with a focus on building upon the rich heritage of the brand. Our strategy will include expanding the men’s division, bringing back limited edition styles, including some of the original sandals from Mexico, and expanding internationally.”

John Dickinson, CEO of Flojos, added, “As one of the original sandal companies, Flojos has strong brand recognition which was attractive to us. The brand was doing well, the owners just wanted to retire and leave the brand with someone who could build upon the heritage. We see a tremendous opportunity to expand not only here in the U.S., but the international opportunities are equally great.”

With a team of talented athletes supporting the brand, including Paul Pugliesi (WSL competitor), Paul Pence, Cole Harmening, Raya Walker (wakeboard), Jake Maki, Melia Haller, and Scott Strong. Flojos will continue to support the industry and develop marketing and social media strategies meant to expand brand awareness.

About Flojos:
Founded in the early 1970’s, Flojos is one of the original sandal companies. All Flojos products are designed with attention to detail and comfort with materials that include top quality leather, nylon, rubber and canvas. Flojos are distributed through national retailers such as Tillys, Flip Flop Shops and through other independent retailers nationwide, as well as its website at www.flojos.com. Price points range from $20 to $60.

About The Courtney Group:
The Courtney Group provides private equity and investment banking services. The principals at The Courtney Group have advised hundreds of companies on transactions and have been successful starting, buying, selling and financing dozens of businesses as entrepreneurs themselves.

For private equity investments, The Courtney Group, Inc. seeks to invest between $1 million to $100 million in businesses with revenues of $10 million to $500 million and cash flow of $2 million to $50 million. The firm seeks to invest in businesses with attractive growth prospects and high quality management teams. The Courtney Group has completed 20 private equity investments since 1999. The firm often acquires businesses from sellers seeking to retire or entrepreneurs seeking a partner to help them reach the next level of success. The Courtney Group team is comprised of partners and professionals with substantial operational experience. The firm is flexible its level of involvement and support depending on a company's needs.

For investment banking advice, The Courtney Group, LLC advises clients on buying and selling businesses, and raising capital for growth and acquisitions. Securities are offered through The Courtney Group, LLC, a broker-dealer, member FINRA/SIPC.

The Courtney Group specializes in the following industries: consumer, chemical, financial services, healthcare, manufacturing, and technology. For more information please see: www.thecourtneygroup.com/

 

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The Courtney Group Completes Sale of Rite Industries

The Courtney Group, Incorporated announced the closing of the sale of Rite Industries, Incorporated to Dimeling, Schreiber & Park for $19.0 million. The transaction was structured as a sale of assets. The Courtney Group acted as financial advisor to Rite in the marketing, valuation, structuring and negotiation of the transaction. Rite is a leading value-added processor and distributor of dyes and specialty chemicals to textile, paper, floor coverings and other specialty industries in North America. Rite has plants in High Point, NC, Clifton, NJ and Dalton, GA. In 1998 Rite had revenues of approximately $87 million.

Dimeling, Schreiber & Park is a private investment partnership based in Philadelphia, PA. The firm specializes in opportunistic investments primarily in the form of leveraged acquisitions, recapitalizations, and Chapter 11 reorganizations. Dimeling, Schreiber & Park has completed acquisitions totaling in excess of $1 billion since its founding in 1982.

About The Courtney Group

The Courtney Group, is an investment banking firm which specializes in advising clients on mergers and acquisitions, as well as raising capital for buyouts, acquisitions, recapitalizations and growth. The Courtney Group's targeted industry areas are: (1) chemical, (2) healthcare, (3) technology and (4) investment management. The firm typically works with companies that have revenues between $5 million to $500 million. For further information on the firm please visit www.thecourtneygroup.com.

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The Courtney Group Announces Acquisition and Financing of Henkel Corporation's Paper Chemicals and Construction and Processing Chemicals by GEO Chemicals

The Courtney Group, Incorporated announced the closing of the acquisition by GEO Chemicals, Inc. of the Paper Chemicals and Construction and Processing Chemicals Divisions of Henkel Corporation. The transaction was structured as a sale of assets. The Courtney Group acted as financial advisor to GEO Chemicals in the transaction. The Paper Chemicals business, based in Cedartown, Georgia, produces and markets additives and coating lubricants to the paper coating industry; defoamers and dispersants to the pulping industry; defoamers, felt conditioners, cleaners and niche wet strength resins to the papermaking industry; and deinking chemicals to the recycling segment.

The Construction and Processing Chemicals business, located in Harrison, New Jersey, manufactures and markets specialty chemicals which provide performance benefits to the construction, oil field, SBR/latex polymerization, and ceramics industries. GEO Chemicals, Inc. operates twelve plant locations in North America. Its primary markets are in specialty chemicals for the paper industry, industrial and waste water treatment, and other specialty areas. The businesses GEO acquired had revenues in 1997 of approximately $70 million. Terms of the transaction were not disclosed.

As part of the assignment, The Courtney Group assisted GEO in securing a substantial equity investment from Charter Oak Partners, in Westport, Connecticut. Charter Oak is a private equity investment firm which invests in manufacturing and service companies with outstanding management teams, strong growth potential and healthy operating profits.

About The Courtney Group

The Courtney Group, is an investment banking firm which specializes in advising clients on mergers & acquisitions as well as raising capital for buyouts, acquisitions, recapitalizations and growth. The Courtney Group's targeted industry areas are: (1) chemical, (2) healthcare, (3) technology and (4) investment management. The firm typically works with companies that have revenues between $5 million to $500 million. For further information on the firm please visit www.thecourtneygroup.com.

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The Courtney Group Completes Acquisition of The Input Technologies Division of Calcomp, a Subsidiary of Lockheed Martin

The Courtney Group, Incorporated announced the closing of the acquisition by GTCO Corporation of the Input Technologies Division of CalComp, Incorporated, a subsidiary of Lockheed Martin Corporation. The transaction was structured as a sale of assets. The Courtney Group acted as financial advisor to GTCO in the valuation, structuring and negotiation and financing of the transaction. The Input Technologies Division ("ITD") of CalComp is a leading designer and manufacturer of digitizers and scanners, and is based in Scottsdale, Arizona. In 1998 ITD had revenues of approximately $50 million. GTCO Corporation manufactures digitizers, and digital whiteboards. GTCO is based in Columbia, Maryland and was founded in 1975. GTCO has completed six acquisitions in the last five years.

About The Courtney Group

The Courtney Group is an investment banking firm which specializes in advising clients on mergers & acquisitions as well as raising capital for buyouts, acquisitions, recapitalizations and growth. For further information on the firm please visit www.thecourtneygroup.com.

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The Courtney Group Announces Buyout of Califone International, Inc. Secures Investments from Madison Investment Partners, Emigrant Capital and Management Team

The Courtney Group, in conjunction with senior management, Madison Investment Partners and Emigrant Capital, announced the completion of a buyout of Califone International, Inc. today. The transaction was made at an undisclosed price. Califone is a leading manufacturer of electronic audio products for the educational market in the United States and abroad.

"The transaction will further strengthen our company and market position," said Terry Soley, President and CEO. "All Califone managers and employees are extremely pleased with the transaction, and are committed to continuing to be an industry leader in the development of innovative products and the delivery of unsurpassed service and quality."

Califone has reinvented itself over the last three years under the leadership of Terry Soley. The company has introduced fourteen major new products, including multi-media headphones, cordless headphones, CD/cassette units, and our CVSS computer control system. Management and the new equity investors remain committed to introducing three to five new wireless and digital products each year.

"The strength of the management team was the prime consideration for the investment group," said Madison Investment Partners' Martha Cassidy. "Califone will continue to provide excellent products and service to the educational market."

Thomas W. Courtney, Jr., President of The Courtney Group and Managing Director of Emigrant Capital, said, "We are excited by the tremendous opportunities that are available to the company, as we expect significant increases in public and private sector spending on education and educational technology." Mr. Courtney added, "We have been tremendously impressed with the educational community's high regard for the Califone name, and the reputation of the company's management team in the industry"

 

About Califone

Califone has produced high quality audio equipment since 1946. The company specializes in designing and manufacturing audio equipment to meet the specific needs of the educational market, and enjoys the leading market share in many of its products. Additional information about the company and its products is available on *www.califone.com.

About Madison Investment

Partners Madison Investment Partners Inc., headquartered in New York, provides private equity financing for management buyouts, recapitalizations and growth. The company was founded in 1993.

About The Courtney Group

The Courtney Group is an investment banking firm which specializes in advising clients on mergers & acquisitions as well as raising capital for buyouts, acquisitions, recapitalizations and growth. For further information on the firm please visit www.thecourtneygroup.com.

Disclaimer: The Courtney Group does not endorse this site, its sponsors, or any of the policies, activities, products, or services offered on the site or by any advertiser on the site.

*The Courtney Group does not endorse this site, its sponsors, or any of the policies, activities, products, or services offered on the site or by any advertiser on the site.

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The Courtney Group is pleased to announce that Barry-Wehmiller Companies, Inc. has acquired the Ward Machinery Company.

The Courtney Group is pleased to announce that Barry-Wehmiller Companies, Inc. has acquired the Ward Machinery Company. The Courtney Group acted as financial advisor to Ward, a manufacturer of equipment for the die cutting, printing and folding of corrugated board. Barry-Wehmiller Companies, Inc. plans to unite The Ward Machinery Company with Wisconsin-based Marquip to become MarquipWard, with annual revenues of approximately $150 million.

"I have long felt that the combination of Marquip and Ward Machinery would result in a dynamic, more efficient global supplier to the corrugated industry," stated William F. Ward, Jr., owner of Ward Machinery. "I'm very encouraged that Barry-Wehmiller has entered the corrugated market. In addition to providing enhanced operational strategies, Barry-Wehmiller has made a positive commitment to the corrugated industry."

"MarquipWard will emerge as a leader in the corrugated equipment industry with a solid operational foundation to address market challenges and create new opportunities for technical innovation and growth," said Timothy J. Sullivan, CEO of MarquipWard and Group Executive of Barry-Wehmiller Companies, Inc. Terms of the transaction were not disclosed.

About the Deal

The two companies first had talks about a year earlier. Subsequently, Barry-Wehmiller Companies, Inc. followed Ward Machinery's continuing strong results and rekindled their pursuit of Ward. The merged business will become one of the largest global suppliers of equipment to the corrugated industry. Barry-Wehmiller Companies, Inc., plans to integrate Ward Machinery Company with Wisconsin-based Marquip to become MarquipWard, with annual revenues of approximately $150 million. Barry-Wehmiller is a clear leader in the packaging automation industry and will also become a leader in the corrugated equipment industry with the acquisition of Ward Machinery.

About Ward Machinery

Ward Machinery was founded in 1961 by William F. Ward, Sr., who also created the first practical rotary die cutter 35 years ago. Under the leadership of his son, William F. Ward, Jr., the company has continued to produce high quality die cutters as well as a diverse product line of machines that fold, glue and print for the corrugated packaging industry.The company has grown to over $100 million in annual sales and more than 500 employees. Much of that growth is a result of successful expansion into foreign markets, particularly in Latin America and East Asia.

About Barry-Wehmiller Company

Barry-Wehmiller Companies, Inc. is a leader in the packaging automation industry with over 100 years of experience as a world-wide provider of advanced technologies in filling, closing, labeling, conveying, cartoning, case packing and shrink-wrapping. With annual revenues of over $350 million, Barry-Wehmiller Companies, Inc. is the largest packaging automation group in the Western Hemisphere.Headquartered in St. Louis, Missouri, Barry-Wehmiller has developed a unique strategy for complete systems integration capabilities made possible through nine interactive divisions: Accraply, *barrywehmiller.com, Design Group, Fleetwood, Hayssen, MarquipWard, Pneumatic Scale, Thiele Technologies, and Zepf. Each division operates independently, yet has the ability to interface with one another in order to best serve the growing needs of Barry-Wehmiller's customers.

About The Courtney Group

The Courtney Group is an investment banking firm which specializes in advising clients on mergers & acquisitions as well as raising capital for buyouts, acquisitions, recapitalizations and growth. For further information on the firm please visit www.thecourtneygroup.com.

Disclaimer: The Courtney Group does not endorse this site, its sponsors, or any of the policies, activities, products, or services offered on the site or by any advertiser on the site.

*The Courtney Group does not endorse this site, its sponsors, or any of the policies, activities, products, or services offered on the site or by any advertiser on the site.

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Interflex Completes Recapitalization with Red Diamond

The Courtney Group is pleased to announce that The InterFlex Group, a specialist in flexible packaging for food customers, has completed a leveraged recapitalization financing in which Red Diamond Capital has become a major shareholder in InterFlex.

Prior to the transaction, Stephen Doyle, CEO and President of InterFlex, had owned 100% of InterFlex stock. "This transaction brings to InterFlex the resources to continue to grow our successful business both under our won expansion initiatives and through possible acquisitions." Mr. Doyle said.

"We selected Red Diamond as a partner because of their knowledge of the packaging sector, their strong ties with companies we can do business with around the world that are connected to the Mitsubishi group, and their support for our vision for InterFlex." Said Mr. Doyle.

Bret Russell at Red Diamond said, "InterFlex has many exciting growth opportunities and we look forward to working with Steve Doyle and his team to help the company continue to prosper." Terms of the transaction were not disclosed.

About the Deal
Stephen Doyle, the 100% owner of InterFlex, was able to diversify his holdings by selling some of his shareholdings and at the same time to increase the capital available to InterFlex for growth and acquisitions by bringing in Red Diamond Capital as a substantial partner.

About InterFlex
InterFlex, based in Wilkesboro, North Carolina, provides value-added specialty packaging to customers in the poultry, meat, produce and bakery sectors. The Company has plants in the US, UK and Brazil. The company was founded in 1975 and today employs about 220. For more information please visit www.interflexgroup.com.

About Red Diamond
Capital Formed in 2002, Red Diamond Capital is an independent $150 million private equity fund that invests in middle-market distribution, manufacturing, service businesses in North America. With its committed capital provided primarily by Mitsubishi Corporation, Japan's leading trading company, through its U.S. subsidiary, Mitsubishi International Corporation, Red Diamond offers a unique mix of strategic resources, industry-focused capital and management expertise to fuel the growth of its portfolio companies. 

About The Courtney Group
The Courtney Group, Incorporated is a merchant banking firm, working with companies in some cases as an advisor on capital raising and M&A assignments and in other cases as principal, investing for its own account. Formed in 1995 The Courtney Group specializes in working with middle market companies with revenues of $5 million to $500 million in the following industries: manufacturing, technology, health care, financial services, and environmental services. Investment banking activities are carried out by The Courtney Group, LLC, member FINRA and SIPC. For further information on the firm please visit www.thecourtneygroup.com.

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Chemical Company Bastech Acquired By Investor Group

BasTech, Inc., based in Jacksonville, Florida has been acquired by an investor group led by The Courtney Group, Incorporated and Cave Creek Capital Management, LLC in cooperation with management. BasTech produces chemical products for customers in paper, pulp, mining and fertilizer sectors. Investors in the transaction included The Courtney Group, Cave Creek, Jerry Rex and Gary Durrant, former executives at Dow Chemical and Union Carbide.

"With the completion of this transaction, we will be able to expand our horizon further, and still maintain the strong relationships we have built with customers and vendors over the past 46 years," said Jerry Rex, BasTech's President. "We will have a strong focus on providing quality products and a commitment to the highest level of customer service."

"We are excited to work with the team at BasTech. Our goal is to provide BasTech's productivity-enhancing products to a broader base of customers," said Tom Courtney, President, The Courtney Group.

"BasTech has some great technology and we look forward to pursuing growth opportunities that the company previously did not have the resources to go after," said Jerry Rex. "We are bringing in new resources which will allow us to grow and provide solutions to a wider range of customers. Terms of the transaction were not disclosed.

About the Deal

The previous owner of BasTech, who founded the company in 1961, sought a sale as part of his retirement planning. Meanwhile, Jerry Rex, BasTech's president who had been with the company since November 2005, was looking for a partner to help continue to grow and build BasTech. Management invested in the transaction alongside The Courtney Group and Cave Creek Capital Management.

About BasTech

BasTech is an innovative company with unique, proprietary technology for pulp, paper, mining and fertilizer markets. For more information please see: www.bastechllc.com

Disclaimer: The Courtney Group does not endorse this site, its sponsors, or any of the policies, activities, products, or services offered on the site or by any advertiser on the site.

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PNC Proactive Completes Financing with Medley Capital Partners

The Courtney Group is pleased to announce the completion of a $25 million debt financing for Proactive Packaging, a specialist in high-quality color printing directly on corrugated and paperboard packaging. Medley Capital, a private investment management firm, provided senior and subordinated debt for Proactive Packaging. Terms of the transaction were not disclosed.

About the Deal

Proactive Packaging sought capital to buy new equipment that would help extend its competitive advantage and grow its business. It needed capital that was creative and flexible.

About Proactive Packaging

Proactive Packaging produces high-quality color printing directly on corrugated and paperboard materials resulting in lower costs than comparable methods and just-in-time delivery while eliminating warehouse and stocking expenses. Proactive is based in Ontario, California and also has a plant in Stockton, California. The company serves customers in a range of industries including food, beverage, consumer goods, and electronics. For more information please visit www.proactivepkg.com.

About Medley Capital

Medley Capital is a private investment management firm with offices in New York, San Francisco and Hong Kong. It makes investments in debt and equity securities. For more information please visit *www.medleycapitalcorp.com.

About The Courtney Group

The Courtney Group provides private equity and investment banking services. We help companies raise debt and equity capital, make divestitures and acquisitions. Industries of interest include: financial services, energy, healthcare, technology, and manufacturing. Private equity opportunities of interest generally have cash flow of $2 million to $50 million. Investment banking activities are carried out by The Courtney Group, LLC, member FINRA and SIPC. For further information on the firm please visit www.thecourtneygroup.com.

Disclaimer: The Courtney Group does not endorse this site, its sponsors, or any of the policies, activities, products, or services offered on the site or by any advertiser on the site.

*The Courtney Group does not endorse this site, its sponsors, or any of the policies, activities, products, or services offered on the site or by any advertiser on the site.

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The Courtney Group Transaction Announcement - American Piping Products, Inc.

The Courtney Group, Incorporated is pleased to announce that American Piping Products, Inc. ("APP") has received a multi-million dollar growth equity investment from a leading private equity consortium. The equity investment was led by The Edgewater Funds and APP's senior management and included The Courtney Group, Pegasus Capital Group and Stewart Capital Management.

APP is a rapidly growing distributor of specialty steel pipe, fittings and flanges to global infrastructure customers in the energy, manufacturing and construction industries. APP is recognized for its in-stock availability of niche products that meet its customers' demands in a complex, international supply chain. APP sources and stocks inventory from a worldwide network of qualified producers and suppliers with whom it enjoys long-standing relationships. Other services include logistics support, quality assurance, export packaging, production saw cutting and same day shipments.

The investment positions APP for continued growth by providing capacity for expanding its product offering. Since its founding in 1994, APP has developed a strong competitive position in the supply of heavy-wall, seamless pipe. The company currently employs 34 people in its headquarters in Chesterfield, Missouri; its service center in Houston, Texas; and sales office in Philadelphia, Pennsylvania.

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The Courtney Group Completes Sale of Mach Speed

The Courtney Group announced the completion of a transaction in which Transition Capital Partners acquired a majority interest in Mach Speed Technologies, Inc. The Courtney Group acted as a financial advisor to Mach Speed Technologies, Inc., a leading digital media supplier including MP3 players and other consumer electronics. Bill Howells, Founder and CEO of Mach Speed Technologies, said, "The transaction exceeded my goals and expectations and I couldn't have done it without The Courtney Group. I'm extremely pleased with how everything turned out. I'd recommend The Courtney Group to anyone considering a sale of their business. They found me great partners and we're off to a terrific start." Terms of the transaction were not disclosed.

About Mach Speed Technologies

Mach Speed Technologies, Inc. designs electronics, was founded in 1998, and is headquartered in Ada, Oklahoma. The Company is committed to providing its customers with the highest quality components and the best possible service. 

About Transition Capital Partners

Transition Capital Partners is a private equity firm based in Dallas, Texas. The firm invests in leveraged recapitalizations and management buyouts of well-managed, entrepreneurial, middle market service oriented businesses. The firm has been successful investing in high growth companies. See *www.tcplp.com.

About The Courtney Group

The Courtney Group, Incorporated provides investment banking and private equity services. We help companies raise debt and equity capital and advise on divestitures and acquisitions. Industries of interest include: financial services, energy, healthcare technology and manufacturing. Private equity opportunities of interest generally have cash flow of $2 million to $50 million. Securities transactions are handled by The Courtney Group, LLC, a member of FINRA and SIPC. For further information on the firm please visit www.thecourtneygroup.com.

Disclosure: The Courtney Group does not endorse this site, its sponsors, or any of the policies, activities, products, or services offered on the site or by any advertiser on the site."

*The Courtney Group does not endorse this site, its sponsors, or any of the policies, activities, products, or services offered on the site or by any advertiser on the site.

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Investor Group led by The Courtney Group and Pegasus Capital Group Acquires Plansee Thermal Management Solutions

A private investor group led by The Courtney Group and Pegasus Capital Group today announced they have acquired Plansee TMS, a world-class designer and manufacturer of custom components from engineered materials for microelectronics, from the Plansee Group. The business will now be known as SANTIER and will continue to operate out of its facilities in San Diego and be led by its current President & CEO Vimal Dutt.

"We are very pleased to acquire Plansee's custom components for microelectronics business as it perfectly fits our business model of investing in growth-oriented, mid-sized manufacturing companies with strong leadership teams, proven technology and a customer-centric solutions focus," said Thomas W. Courtney, Jr., President, The Courtney Group. "We have a history of acquiring businesses from large, corporate parents. Working with our team of operating executives we have often set up new systems for businesses to operate on a stand-alone basis."

Patrick Whelan of Pegasus Capital said, "SANTIER is already a strong business, and we look forward to support its continued growth by investing in new equipment, systems and capabilities while looking for complementary acquisitions."

As part of SANTIER's new ownership group, Steve Kaye, has joined as a director and investor. Mr. Kaye has a strong background in leading technology companies and was previously CEO of eInstruction, Centice and GTCO Calcomp. Bernhard Schretter, President, PLANSEE SE, said, "In recent years, the focus of the PTMS activities has shifted away from the core competencies of the Plansee Group. Therefore PLANSEE SE was looking for a new owner who is able and willing to further develop this promising business much better than we can do. We wish SANTIER much continued success under its new ownership."

Founded in 1991, SANTIER has produced more than 2 million components, device packages and assemblies for leading companies in the aerospace, defense, telecommunications and medical markets. SANTIER President & CEO Vimal Dutt said, "We are a build-to-spec solutions company dedicated to the success of our customers. We are excited about the opportunity to further expand our capabilities to the benefit of our customers." Terms of the transaction were not disclosed.

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