Sancilio sold certain assets to K.D. Pharma Bexbach
/in casestudy, General /by roaradmin- Background: Sancilio Pharmaceuticals Company, Inc. (“Sancilio”), based in Riviera Beach, FL, is an integrated specialty pharmaceutical company that develops, manufactures, and commercializes pharmaceutical products, over-the-counter and behind-the-counter products, and dietary supplements in the dental and women’s health markets.
- Cassel Salpeter:
- Served as financial advisor to the Company
- Ran a competitive sales process, identifying and contacting over 300 strategic and financial parties
- Provided assistance throughout all phases of the Chapter 11 Section 363 sales process, due diligence, and auction
- Challenges:
- Expedited sales timeline with less than six weeks to identify and solicit interest from potential bidders
- Simultaneous, multiple sales processes for different divisions of the Company
- Outcome: On August 1, 2018, the Ocean Blue division of Sancilio Pharmaceuticals Company, Inc. was purchased by K.D. Pharma Bexbach GmbH, headquartered in Bexbach, Germany.
Sancilio sold certain assets to Micelle Biopharma
/in casestudy, General /by roaradmin- Background: Sancilio Pharmaceuticals Company, Inc. (“Sancilio”), based in Riviera Beach, FL, is an integrated specialty pharmaceutical company that develops, manufactures, and commercializes pharmaceutical products, over-the-counter and behind-the-counter products, and dietary supplements in the dental and women’s health markets.
- Cassel Salpeter:
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- Served as financial advisor to the Company
- Ran a competitive sales process, identifying and contacting over 300 strategic and financial parties
- Provided assistance throughout all phases of the Chapter 11 Section 363 sales process, due diligence, and auction
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- Challenges:
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- Expedited sales timeline with less than six weeks to identify and solicit interest from potential bidders
- Simultaneous, multiple sales processes for different divisions of the Company
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- Outcome: On August 8, 2018, Altemia and the ALT Platform, a Phase III ready product for the treatment of sickle cell disease; a prenatal and dental portfolio of prenatal vitamins and fluorides; and the plant and labs of Sancilio Pharmaceuticals Company, Inc., were purchased by Micelle Biopharma, Inc.
Convert has been acquired by Abbey Road Capital
/in casestudy, General /by roaradmin- Background: Convert IT Marketing, LLC (“Convert”), founded in 2011 and based in Ft. Lauderdale, FL, provides outsourced pay-per-click marketing solutions for local law firms in specialty practices throughout the U.S. Convert IT’s unique and proprietary strategies deliver superior performance to its 500+ customers in terms of cost and quality of leads, placing it in the top 1% of all digital marketers serving the legal vertical.
- Cassel Salpeter:
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- Served as exclusive financial advisor to the Company in its divestiture of the Neo Urinary conduit assets
- Ran a competitive sales process, identifying and contacting strategic and financial parties
- Provided the owner with advice from pre-engagement to post-close
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- Challenges:
- Limited buyer universe
- Multiple offers ahead of the completion of initial calls
- Challenges:
- Outcome: On August 31, 2018, Convert IT was purchased by Abbey Road Capital.
CORD:USE has been acquired by Cryo-Cell International
/in casestudy, General /by roaradmin- Background: CORD:USE Cord Blood Bank (“Cord”), based in Orlando, FL, owns and operates a cord blood bank that focuses on building an inventory of umbilical cord blood stem cell units for patients in need of a life-saving transplant.
- Cassel Salpeter:
- Served as financial advisor to the Company
- Advised Cord in evaluating its strategic options and provided assistance throughout the due diligence and closing process
- Ran a broad sales process, contacting 115 parties
- Challenges:
- Small footprint – Marketing in select markets
- Sizeable amount of debt
- Complex capital structure
- Outcome: In June 2018, Cord was acquired by Cryo-Cell International, Inc. The upfront consideration consisted of cash and shares of Common Stock with the potential for contingency cash payments based upon pre-determined milestones.
Lakewood Organic received senior debt financing from Fifth Third Bank
/in casestudy, General /by roaradmin- Background: Lakewood Organics (“Lakewood”), based in Miami, FL, is an independent family juice company bottling a diverse line of pure organic and premium fruit juice products. Founded in 1935, Lakewood takes great pride in being a responsible steward of the Lakewood brand and holds true to its mission to provide the best quality juices to its customers.
- Cassel Salpeter:
- Served as financial advisor to the Company
- Advised Lakewood in evaluating its financing options and provided assistance throughout the due diligence and closing process
- Ran a targeted debt raise process, contacting 18 lenders
- Challenges:
- Assets held by different entities including the operating business, intellectual property, and real estate
- Expedited timeline to close
- Outcome: In May 2018, Lakewood Organics received senior debt financing from Fifth Third Bank to help support the Company in its pursuit of numerous growth initiatives.

Cassel Salpeter & Co. is an Independent Investment banking firm that provides advice to middle-market and emerging growth companies.
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Cassel Salpeter & Co.
801 Brickell Avenue,
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Miami, FL 33131
(305) 438-7700
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