Cassel Salpeter & Co. Represents Lang Group in its Sale to IG Design Group
MIAMI – August 18, 2016 – Cassel Salpeter & Co., a middle-market investment banking firm providing financial advisory services, represented Lang Companies in its sale to IG Design Group plc (formerly International Greetings plc).
Lang is a design-led supplier of high-quality branded consumer indoor and outdoor home and lifestyle products. IG is one of the world’s leading designers, innovators and manufacturers of gift packaging and greetings, social expression giftware, stationery and creative play products.
“We appreciate Cassel Salpeter’s deep understanding of our company, our industry, and what it takes to get a deal done,” said Alan Patrick, former CEO of Lang. “This deal is an important strategic move that will bring significant benefit to both companies, including an enhanced ability to meet our customers’ growing needs while providing both companies synergies in management, sourcing and cross-selling.”
The Cassel Salpeter team was led by James Cassel, chairman, and Philip Cassel, vice president.
Cassel Salpeter, with its headquarters in Miami, has experience providing clients in diverse industries with a range of 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.
Operating under three brands – Lang, Wells St., and Turner Licensing – Lang’s products include design-led giftware and gift calendars, with licenses such as NBA and NFL. The business has revenue streams with a complementary range of customer channels and live trading relationships with many U.S.-based national chains and more than 3,000 specialty gift stores. Additionally, Lang has established a direct-to-consumer sales channel through its own website and catalogs with more than 150,000 direct customers.
Jeffrey D. Cunningham with Seyfarth Shaw LLP provided legal representation to IG Design Group. Hayley Smith and Corey Fox with Kirkland & Ellis LLP provided legal representation to Lang.
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 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 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.
