Cassel Salpeter & Co. Facilities Sale of Comprehensive Eye M.D. to Spectrum Vision Partners

Cassel Salpeter & Co., an independent investment banking firm that provides advice to middle-market companies in the U.S. and worldwide, represented Comprehensive Eye M.D., a highly regarded eye care specialist, in the company’s sale to Spectrum Vision Partners, LLC (Spectrum), an organization serving many of the top ophthalmology groups and ambulatory eye surgery centers in New York, New Jersey, Connecticut, and Pennsylvania, and a portfolio company of Blue Sea Capital, a private equity firm based in West Palm Beach, Florida.

“We are proud to have worked with Comprehensive Eye M.D., Dr. Marc Wietschner, and the Spectrum team. It took hard work, persistence, and expertise, but we found them the right partner to move forward within this transaction,” said Cassel Salpeter’s co-founder and chairman James Cassel.

Comprehensive Eye M.D.’s owner and founder Dr. Wietschner added: “We couldn’t be more thrilled to have teamed up with Cassel Salpeter. The expertise and professionalism shown by Cassel Salpeter in connection with this sale was second to none. They made the entire process as painless as possible, even through the difficulties brought on by the pandemic.”

The Cassel Salpeter team was led by co-founder and chairman James Cassel and Vice President Laura Salpeter. Comprehensive Eye M.D.’s attorneys were Douglas Menikheim, Benjamin Malerba, Scott Feuer, and Joseph DiBella of Rivkin Radler LLP, while Spectrum used David Manko, Peter Eggers, and Cyrus Abbassi of Proskauer Rose LLP as its legal counsel.

Cassel Salpeter would like to thank Greg Wappett of Spectrum, and Heidi Wietschner of Comprehensive Eye M.D. who worked diligently to expedite the transaction’s closing.

About Cassel Salpeter & Co., LLC
Cassel Salpeter & Co. is an investment banking firm with professionals who have more than forty years of financial experience. They deliver smart, straightforward advisory services to middle-market companies across America. With a thorough understanding of their clients’ industries and a keen sense of the economy, the Cassel Salpeter team provides independent, timely advice so clients can capitalize on a rapidly changing global environment. Headquartered in Miami, Florida, Cassel Salpeter is led by James Cassel and Scott Salpeter. Member FINRA and SIPC.

Cassel Salpeter & Co. Secures Debt Financing For Plantation Boat Mart & Marina, Inc.

Cassel Salpeter & Co., an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide, represented Plantation Boat Mart & Marina, Inc. (“Plantation”) in securing senior debt financing from Synovus Bank. The financing will support various recapitalization and growth initiatives. 

Plantation Boat Mart & Marina, Inc. operates as an independent, family owned boat dealership and marina. Founded in 1996 and based in Tavernier, Florida, Plantation is a dealer for Sea Hunt Boats, Deep Impact Boats, Invincible Boats, and Blackwater Boats. They also offer an excellent selection of quality pre-owned center console boats and yachts. Plantation’s parts and service department continues to grow and is now one of the most complete and largest departments in South Florida, with over 40,000 square feet under-roof. 

Plantation is proud to have achieved both Top 100 Dealer in North America and the National Marine Manufacturers Association’s 5-Star Certified Dealership status. Plantation is not just a boat dealership—but a way of life. The connectivity to their customers is long-standing and essential, as they return to Plantation year after year, purchase after purchase, to support their passionate lifestyle for boating. 

“Cassel Salpeter has years of experience helping middle-market businesses like Plantation raise capital, complete recapitalizations, and mergers and acquisitions,” said Cassel Salpeter Director Joseph “Joey” Smith, who led the assignment. In this instance, we helped Plantation in evaluating its financing options and assisted throughout the due diligence and closing process. Plantation’s Founder Elias De la Torre, Jr. added: “We are grateful for the expert guidance that Cassel Salpeter provided in connection with the transaction.”

Robert Gardana, Esq., Aldo Lastra, Jr. CPA, and Anita Aedo, Senior Vice President & Director of Middle-Market Banking at Synovus Bank, also worked diligently to expedite the transaction’s closing.

About Cassel Salpeter & Co., LLC
Cassel Salpeter & Co. is an investment banking firm with professionals who have more than forty years of financial experience. They deliver smart, straightforward advisory services to middle-market companies across America. With a thorough understanding of their clients’ industries and a keen sense of the economy, the Cassel Salpeter team provides independent, timely advice so clients can capitalize on a rapidly changing global environment. Headquartered in Miami, Florida, Cassel Salpeter is led by James Cassel and Scott Salpeter. Member FINRA and SIPC.

Cassel Salpeter & Co. Recognized in Winner’s Circle at 12th Annual Turnaround Atlas Awards

Cassel Salpeter & Co., an independent investment banking firm that provides advice to middle-market and emerging growth companies in the U.S. and worldwide, is pleased to have been named among the winners of the 12th annual Turnaround Atlas Awards, one of the most prestigious awards bestowed in the global restructuring, insolvency, and distressed investing sectors.

 

Cassel Salpeter was recognized as the winner of the Cross Border Special Situation M&A Deal of the Year (Value Below $50 Million) as a result of the firm’s role as investment banker to Achaogen in its bankruptcy sale of the global assets, excluding Greater China, related to ZEMDRI® (plazomicin) to Cipla, the Greater China assets related to plazomicin to Xuanzhu Biopharmaceutical, and additional intellectual property and equipment assets to other buyers.

 

“We are honored to receive this award and our entire team is pleased to receive recognition for the tireless work they put into the deal on behalf of our clients,” said Philip Cassel, a managing director at the investment banking firm. “Each and every opportunity we take on as a firm receives our full attention and the utmost devotion. This deal was another great example of that hard work paying off.”

 

Cassel Salpeter worked closely on the transaction with Meru, the debtor’s financial advisor, Hogan Lovells, the debtor’s counsel, and Morris, Nichols, Arsht & Tunnell, the debtor’s co-counsel.

 

Cassel Salpeter & Co. Wins Two Awards at the 2021 Annual USA M&A Atlas Awards: Fairness Opinion Advisor of the Year & Small Market Corporate Deal of the Year

Cassel Salpeter & Co., an independent investment banking firm that provides advice to middle-market and emerging growth companies in the U.S. and worldwide, is pleased to have been recognized by Global M&A Network having won two 2021 Annual USA M&A Atlas Awards for Fairness Opinion Advisor of the Year and the Small Market Corporate Deal of the Year.The Fairness Opinion Advisor of the Year Award was presented to Cassel Salpeter & Co. for its continued excellence in fairness opinion advisory work. Tapping into the team’s extensive experience, the firm delivers the highest-quality work product and strives for greatness on every assignment.Fairness opinions are an opinion with respect to whether the consideration paid or received in a transaction is fair from a financial point of view to the party or persons paying or receiving the consideration. They are provided in a vast range of transactions, including M&A, SPACs, leveraged and management buyouts, going-private and related party transactions, equity financing, private placements, restructurings, joint ventures, tender offers, and reverse mergers.

To date, the firm and its senior management have delivered over 225 fairness opinions, ranging from single acquisitions to highly complex transactions in a broad array of industries.

Additionally, Cassel Salpeter & Co. was named the Small Market ($25-100 million) Corporate Deal of the Year winner for its work as financial advisor to the sellers in the Westchester General Hospital sale to Sanitas USA, a subsidiary of Keralty. Cassel Salpeter worked closely on the transaction with McDermott Will & Emery, the seller’s counsel, and Greenberg Traurig, the buyer’s counsel.

The Annual USA M&A Atlas Awards is part of the prestigious M&A Atlas Award’s global brand, exclusively honoring best value-generating deals, star dealmakers and outstanding firms from North and South America.

“We are honored to be named the ‘Fairness Opinion Advisor of the Year’ and ‘Small Market Corporate Deal of the Year’ in 2021,” said James S. Cassel, Chairman and Co-Founder of Cassel Salpeter & Co. “During a challenging year, our team rose to the occasion to serve our clients with best-in-class service, showing we can adapt to our clients’ needs and achieve great results.”

About Cassel Salpeter & Co., LLC
Cassel Salpeter & Co., LLC is an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide. Together, the firm’s professionals have extensive experience providing private and public companies with a broad spectrum of investment banking and financial advisory services, including: mergers and acquisitions; equity and debt capital raises; fairness and solvency opinions; valuations; and restructurings, such as 363 sales and plans of reorganization. Co-founded by James Cassel and Scott Salpeter, the firm provides objective, unbiased, results-focused services that clients need to achieve their goals. Personally involved at every stage of all engagements, the firm’s senior professionals have forged relationships and completed hundreds of transactions and assignments nationwide. The firm is headquartered in Miami and maintains a national practice. Member FINRA and SIPC. More information is available at www.CasselSalpeter.com.

 

Cassel Salpeter & Co. Facilitates Sale of Opis Senior Services Group to Citadel Care Centers

Cassel Salpeter & Co., an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide, today announced it has successfully facilitated the sale of Opis Senior Services Group, one of Florida’s leading providers of long-term and post-acute care, comprised of 10 skilled nursing facilities, an assisted living facility, comprehensive rehabilitation, advanced practitioner services and community-based services in locations throughout Central Florida. The strategic buyer was Citadel Care Centers, which provides a comprehensive roster of services and premium level of healthcare in caring, compassionate, and cheerful environments. Cassel Salpeter advised Opis Senior Services in the transaction.

Opis approached Cassel Salpeter to assist them in finding a suitable buyer during very difficult times. It was a complicated situation given the ongoing coronavirus pandemic and its impact on the facilities. Opis prioritized finding a buyer that would carry on its long tradition of quality care and its reputation as one of the premier operators in the country. Cassel Salpeter identified Citadel Care Centers as the optimal candidate to carry the legacy forward. Citadel already owns and operates multiple nursing homes and care centers in Florida, as well as in other parts of the U.S., and has an extensive track record of providing a high standard of care.

“In spite of all the challenges presented by COVID-19, Cassel Salpeter worked tirelessly to adapt to these changes and continue to provide exceptional solutions for our client,” said James S. Cassel, chairman and cofounder of the investment banking firm. “With the sale to Citadel Care Centers, Opis Senior Services Group have found a knowledgeable buyer aware of the value and importance of the services Opis provides to its patients, and one that will continue and expand upon the seller’s mission.”

The Cassel Salpeter deal team was Chairman James Cassel, Managing Director Philip Cassel, Vice President Laura Salpeter, and Associate Edward Kropf. The legal team for Opis was Paul Singerman, Phyllis Bean, Michael Levinson, and Christopher Jarvinen of Berger Singerman LLP. Salvatore Cuccia of SDC & Associates, Inc. acted as advisor to the company. Bryan Rotella of GenCo Legal, Eric Boyer of Quintairos, Prieto, Wood & Boyer, P.A., and Stephen Grave de Peralta of PG Law acted as the company’s outside legal counsel. The lawyers for Citadel were Aaron Rokach and Adam Kornblatt of Gutnicki LLP.

About Cassel Salpeter & Co.

Cassel Salpeter & Co. LLC is an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide. Together, the firm’s professionals have more than 50 years of experience providing private and public companies with a broad spectrum of investment banking and financial advisory services, including: mergers and acquisitions; equity and debt capital raises; fairness and solvency opinions; valuations; and restructurings, such as 363 sales and plans of reorganization. Cofounded by James Cassel and Scott Salpeter, the firm provides objective, unbiased, results-focused services that clients need to achieve their goals. Personally involved at every stage of all engagements, the firm’s senior partners have forged relationships and completed hundreds of transactions and assignments nationwide. The firm’s headquarters are in Miami. Member FINRA and SIPC. More information is available at www.CasselSalpeter.com

Cassel Salpeter Aviation Update – 737 Max

With 737 Max Cleared for Takeoff and Covid Vaccine on Horizon, Aviation Industry Slowly on the Verge of U-Shaped Recovery

On November 18th, U.S. regulators (FAA) ruled that the Boeing 737 Max can resume commercial flights with an extensive package of fixes, ending a damaging 20-month hiatus prompted by a pair of fatal crashes. The aircraft’s return will not end the controversy or provide a cash infusion for the company’s suffering bottom line, but it does appear to, in the words of Winston Churchill, at least be the end of the beginning. Following the FAA ruling, various global regulators are expected to follow suit in the coming months.

This is a major milestone for Boeing and an inflection point for the company, though the COVID-19 pandemic has devastated the airline industry, pressuring airlines and lessors to cancel orders for the 737 Max and foiling Boeing’s plans to quickly reverse its losses. The Max’s comeback will be gradual, as it will not fly for some months. Airlines must first train pilots, inspect the jets emerging from long-term desert storage, and complete the FAA’s required repairs before placing the aircraft back into fleet service.

The FAA action is only the first step in certifying 59 airlines/carriers (32 countries) to operate the 387 grounded planes. The FAA orders cover only US domestic flights for the 737 Max jets operated by American, United, and Southwest Airlines; 72 in total. Of the U.S. operators, only American Airlines (AA) has put the Max jets back into its schedule, with flights beginning Dec. 29th on one route: Miami to New York. Flights to or within other countries will need the approval of those individual aviation authorities.

For context, 450 737 Max jets have been built, but not delivered, amounting to billions of dollars in inventory that Boeing hopes to be able to start turning into cash. Bloomberg News reports that nearly a quarter of those 450 Max jets in storage are “white tails,” or planes whose original buyers have backed out, leaving their tails unmarked by airline logos. In total, more than 1,000 Max jet orders have been canceled this year. Additionally, there are about 1,500 single-aisle passenger jets parked by airlines around the world, according to Ascend by Cirium, a research firm that tracks plane usage. That number does not include the grounded 737 Max jets, yet the plane represents more than 25% of the single-aisle planes worldwide since the pandemic broke out.

Boeing’s chief rival Airbus has not been immune to the fallout from the global pandemic, but the fact that its planes were not grounded made it comparatively harder for airlines to abandon their orders. In fact, Airbus has told its suppliers to be ready to ramp up production on its A320neo family of jets to 47-a-month by the second half of 2021, compared to 40 currently. Airbus had 11 new orders in October across its portfolio, compared to zero at Boeing. The narrow-body jet market is expected to recover faster from the pandemic because the planes are primarily used on shorter-haul flights. As of the end of Q3 2020, Airbus had a commanding 64% share of that market, according to Vertical Research Partners analyst Rob Stallard.

For Boeing, which faces at least $20 billion in Max-related costs, the crisis has become one of the worst in the company’s century-long history. Now, with the collapse in air travel, airlines that had been clamoring for the more efficient Boeing jets (15% more fuel efficient) suddenly are fighting for survival and looking to postpone deliveries. Boeing executives warned last month that the company will burn more cash than it generates until 2022, and that it will take at least a year beyond that to clear the mothballed Max aircraft out of its inventory. The bottom line is that the industry is slowly on the verge of a U-shaped recovery, which will be much needed for the airlines and its related ecosystem of suppliers, MRO (repair shops), distributors, and other players, in this critical sector of the US and global economy.

Cassel Salpeter & Co. Facilitates Sale of Westchester General Hospital to Keralty

Cassel Salpeter & Co., an independent investment banking firm that provides advice to middle-market and emerging growth companies in the U.S. and worldwide, announced it acted as exclusive financial advisor to Westchester General Hospital located in Miami, Fl, in connection with its sale to Sanitas USA, Inc. a subsidiary of Keralty SAS, an international health enterprise leader in patient-centered care and health outcomes in operation for over 50 years in seven countries. Cassel Salpeter led the search for the buyer and worked to ensure the transaction was seamless and successful.

When Westchester General Hospital expressed interest in selling the hospital and the property it occupies, Cassel Salpeter utilized its extensive network in the healthcare industry to raise awareness of the opportunity and find a suitable buyer for the hospital. Keralty, under the Sanitas Medical Centers’ name, soon emerged as the purchaser of the hospital, and the parties were able to successfully complete the transaction. 

“We’re proud to have been able to work with Westchester General Hospital and the family that owned it to find an appropriate buyer for the hospital, one that shares the same commitment to serve the community and provide state of-the-art, expert healthcare,” said James S. Cassel, Cassel Salpeter Chairman and Co-founder. “With its Sanitas Medical Centers, Keralty has built a dependable network of health centers, and this acquisition will allow them to expand their network, services, and commitment to serving the community.” 

The sale includes both the 78,000 square foot acute care hospital with 125 beds, inclusive of a 27 bed psychiatric unit, as well as the land surrounding it.  Keralty intends to retain the approximate 570 staff currently employed at the hospital, and the hospital will continue to provide the community with 

emergency services, intensive care, and all other services it does presently. 

The Cassel Salpeter team was led by Chairman and Co-founder James S. Cassel and Vice President Laura Salpeter, with the assistance of Associate Julian Astrove. 

“We are thankful for the help of Cassel Salpeter in working with us to find a suitable buyer that would continue the hospital’s mission of providing invaluable services to our community which our family has done for over 50 years,” said Dr. Gregory Fox of Westchester General Hospital. “James, Laura, Julian, and the rest of the team at Cassel Salpeter worked tirelessly to find viable opportunities for us and were crucial throughout every stage of the deal.” 

Cassel Salpeter also thanks Gary Davis and Sam Goodman of McDermott Will & Emory for serving as the legal advisor for Westchester General Hospital, as well as, Carol Barnhart and Anthony Fernandez of Greenberg Traurig for their role as legal advisor to Keralty. 

About Cassel Salpeter & Co., LLC
Cassel Salpeter & Co. is an investment banking firm with professionals who have more than forty years of financial experience. They deliver smart, straightforward advisory services to middle-market companies across America. With a thorough understanding of their clients’ industries and a keen sense of the economy, the Cassel Salpeter team provides independent, timely advice so clients can capitalize on a rapidly changing global environment. Headquartered in Miami, Florida, Cassel Salpeter is led by James Cassel and Scott Salpeter. Member FINRA and SIPC.

Cassell Salpeter & Co. Welcomes New Associate Edward “Eddie” Kropf and Analyst Tahz Rashid, Adding Rising Talent to a Veteran Team

Committed to providing world-class independent investment banking services, never more critical to middle-market and emerging growth companies, Cassel Salpeter is delighted to announce the addition of two outstanding professionals, Eddie Kropf and Tahz Rashid. 

“As part of our firm’s continued commitment to addressing client needs, made more urgent by these challenging times, we are thrilled to welcome Eddie and Tahz to our team,” said chairman and co-founder James Cassel. “These exceptional professionals bring with them fresh insights, a diligent work ethic, and sharp intellect that will help propel our firm and clients forward.” 

Edward Eddie KropfEDWARD “EDDIE” KROPF 

Eddie will leverage his consulting and research expertise in his role as associate to assist all areas of the firm, from financial analysis to advisory services. He earned a bachelor’s degree in economics from Reed College and a master’s in business administration from the University of Miami.

TAHZ RASHID 

Tahz will support the team as an analyst, actively contributing to the firm’s issuances of valuations. He earned a bachelor’s in economics with a focus in mathematics from the University of Wisconsin-Madison and a master’s in finance from the University of Miami. 

Both Eddie and Tahz served as interns with Cassel Salpeter prior to assuming their respective positions. 

Click to learn more about Eddie and Tahz

About Cassel Salpeter & Co., LLC
Cassel Salpeter & Co. is an investment banking firm with professionals who have more than forty years of financial experience. They deliver smart, straightforward advisory services to middle-market companies across America. With a thorough understanding of their clients’ industries and a keen sense of the economy, the Cassel Salpeter team provides independent, timely advice so clients can capitalize on a rapidly changing global environment. Headquartered in Miami, Florida, Cassel Salpeter is led by James Cassel and Scott Salpeter. Member FINRA and SIPC.

Cassel Salpeter Welcomes New Managing Directors Margery Fischbein And Deborah F. Aghib, Ph. D., Expanding Its Healthcare Group

February 10, 2020

​​​​​​​Driven by strong sustained growth and an unwavering commitment to providing top-tier independent investment banking services for middle-market and emerging growth companies, Cassel Salpeter & Co. announced the strategic additions of Margery Fischbein and Deborah F. Aghib, Ph.D. Two exceptional professionals with over 65 combined years of executive experience, Ms. Fishbein and Dr. Aghib will join Ira Leiderman and the team as managing directors of the healthcare group, one of a broad spectrum of industries the firm assists, and an increasingly in-demand vertical for the company.

In these roles, Ms. Fishbein and Dr. Aghib will advise owners and boards of directors of middle-market, private and public companies on a variety of M&A transactions, equity and debt financings, strategic licensing and partnering, and financial advisory assignments across a range of healthcare verticals.
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“As part of our firm’s accelerated forward momentum, we warmly welcome these seasoned industry experts, who join our longtime healthcare managing director, Ira Leiderman,” said chairman and co-founder James Cassel. “Their experience, track record, and client-first approach is perfectly in line with our commitment to providing world-class services. Together with Ira, they will spearhead dynamic new initiatives and help satisfy significant demand for our healthcare services.”


MARGERY FISCHBEIN

Prior to joining Cassel Salpeter, Ms. Fishbein was head of Healthcare Investment Banking for Seaport Global and FBR & Co., and head of East Coast Biotechnology Investment Banking for JMP Securities. Ms. Fischbein also held senior executive positions at the biotechnology companies ImClone Systems and Human Genome Sciences. She began her career rising to senior vice president at Lehman Brothers and then as managing director of investment banking at JPMorgan Chase and Citigroup.

Ms. Fishbein earned a master’s in business administration from Harvard Business School and a bachelor’s degree from Harvard University.


DEBORAH F. AGHIB, PH.D.

Prior to joining Cassel Salpeter, Dr. Aghib was a private equity consultant for CRG LP, a global healthcare-focused investment firm and industry pioneer. Before that, she was the chief business development executive for Stellar Biotechnologies, Inc., and also held other senior executive positions. Dr. Aghib was also an Independent Director on the Stellar Biotechnologies, Inc. board of directors. She is currently a board member of the OpenWorm Foundation.

Dr. Aghib holds a Ph.D. in Molecular and Cellular Biology from the University of Milan (Italy) and a Ph.D. in Human Genetics from the University of Pavia (Italy), and a M.Sc degree in Biological Sciences from the University of Milan (Italy).

About Cassel Salpeter & Co.
Cassel Salpeter & Co. LLC is an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide. Together, the firm’s professionals have extensive experience providing private and public companies with a broad spectrum of investment banking and financial advisory services, including: mergers and acquisitions; equity and debt capital raises; fairness and solvency opinions; valuations; and restructurings, such as 363 sales and plans of reorganization. Co-founded by James Cassel and Scott Salpeter, the firm provides objective, unbiased, results-focused services that clients need to achieve their goals. Personally involved at every stage of all engagements, the firm’s senior professionals have forged relationships and completed hundreds of transactions and assignments nationwide. The firm’s headquarters are in Miami. Member FINRA and SIPC.

Van Drunen Farms and SouthAm Freeze Dry Announce New Business Partnership

The Van Drunen Family of Companies (“Van Drunen Farms”) and SouthAm Freeze Dry (“SouthAm”) today announced a new partnership whereby Van Drunen Farms will take a majority stake in SouthAm.

Van Drunen Farms, with headquarters in Momence, IL, is a world leader in agriculture, food science, and dehydrating fruits, vegetables, and grains. SouthAm is a trusted freeze-dried fruit supplier to many global CPG companies and is widely known as a leader in delivering the highest quality freeze-dried ingredients. Its headquarters are just outside of Chile’s capital, Santiago. The company enjoys strong competitive advantages that come from its ability to leverage direct, local access to the rich farming output of Chile and the South American supply chain. SouthAm combines a local focus with an international reach.

“This partnership will better position both SouthAm and Van Drunen Farms, offering unique and substantial benefits for our customers,” remarked Kevin Van Drunen, Co-Owner and President of Van Drunen Farms, and Board Member of SouthAm. “It is exciting to see our global platform expanded with a partner that shares our long term vision to be a global leader in freeze-dry ingredients and has a truly international reach.”

The investment in SouthAm provides Van Drunen Farms, including its dietary supplement powerhouse FutureCeuticals, a key competitive advantage for South and Central American fruits in the food, functional food, and supplement spaces, as well as continues SouthAm’s innovation, which is focused on the development of native herbal, fruit, and vegetable ingredients. The partnership allows both organizations to enhance their access to global supply, which benefits each of their respective customer bases.

“We are thrilled to take this next step as a company,” added Boris Hirmas Said, founder and Chairman of the Board of SouthAm. “We started in 2004 with a mission to create a world-class business to showcase Chile’s unique capacity for premium quality manufacturing and food products. With that initial goal achieved, we are now ready to partner with Van Drunen Farms to bring this message and these products to the world. It is truly a win for us, for our Van Drunenpartners, and above all for our customers.  Ultimately, with our combined resources we have now broadened our direct supply chain to both hemispheres, making us both more efficient and effective.”

“What is truly unique about this partnership, and something that is very important to us at Van Drunen Farms, is that both SouthAm and Van Drunen Farms are family owned companies,” remarked Jeff Van Drunen, Co-Owner of Van Drunen Farms, President of FutureCeuticals, and Vice Chairman of the Board of SouthAm. “Once all of the due diligence and pro forma is complete, it’s these kinds of intangibles that transform a project from a fine idea that makes good financial sense into something intrinsically great for everyone involved. Culture and values matter to us, and SouthAm aligns perfectly with who we are as people, a family, and as a corporate entity.”

Cassel Salpeter & Co. served as exclusive financial advisor to SouthAm. The team was led by Chairman James S. Casseland Director Philip Cassel.

“It is a rare occurrence for a partnership to come together with two parties that share such deep-rooted values within their organizations,” said James Cassel. “We believe that Van Drunen Farms and SouthAm, with their similar long-term approach, will create a strong foundation for success well into the future. It was a pleasure to play an important part in facilitating the combination of these two great companies.”

About SouthAm Freeze Dry

SouthAm fuses creativity and innovation with world-class quality standards. SouthAm takes a holistic approach to business; handling everything from sourcing and manufacturing of freeze dried food solutions to custom tailored product development.

About Van Drunen Holdings

The Van Drunen Family of Companies is a global presence in the food, functional food, and nutraceutical industries. Van Drunen Farms, founded in 1856, is a global leader in the growing of culinary herbs, as well as the dehydration of fruit, vegetable, grain, and herbal food ingredients. VDF FutureCeuticals, Inc. is a vertically integrated functional food ingredient, product development, and bioanalytical research and discovery company serving the supplement and functional food industries with patented and clinically-researched functional ingredients. VDF Europe operates an expanding freeze drying facility in Serbia serving the EU, the near East, and Asia. Golden State Herbs is an agricultural and air drying operation located in Thermal, California. Van Drunen Specialty Seeds, a non-gmo seed development company currently focused on proprietary basil seed varietals, operates in Thermal, California.

About Cassel Salpeter & Co.

Cassel Salpeter & Co., LLC is an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide. Together, the firm’s professionals have more than 50 years of experience providing private and public companies with a broad spectrum of investment banking and financial advisory services,  including: mergers and acquisitions, equity and debt capital raises. Co-founded by James Cassel and Scott Salpeter, the firm’s headquarters are in Miami.

SOURCE Van Drunen Farms; FutureCeuticals, Inc.

Related Links

http://www.vandrunenfarms.com