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Gilman Ciocia merged with National Holdings Corporation

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  • Background:  Headquartered in Poughkeepsie, New York, Gilman Ciocia provides financial planning, accounting, income tax preparation, and asset management services in the U.S. Specifically, the Company provides financial planning services to individual investors, tax preparation services to individuals in the middle and upper income tax brackets and accounting services to small and midsize companies.
  • Cassel Salpeter:
    • Served as financial advisor to the Company
    • Ran a competitive sales process, identifying and contacting over 70 strategic and financial parties
    • Issued a Fairness Opinion in connection with the transaction

Challenges:

    • Positioned a unique public company with formally combined financial planning and tax preparation services on the same premises
    • Maximized value and provided an exit for private equity investors and shareholders, while maintaining stability amongst financial planners and tax professionals
  • Outcome: In October 2013, Gilman Ciocia, Inc. merged with National Holdings Corporation, a financial services organization based in New York, NY.

Wolper Subscription Services has been acquired by LM Information Delivery

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  • Background: Headquartered in Easton, PA, Wolper is a full-service information management resource, providing customized solutions for subscription management and related resources including print and electronic, foreign and domestic magazine and journal subscriptions, as well as books and e-books, databases, site licenses, and state-of-the-art information management tools.
  • Cassel Salpeter:
    • Served as financial advisor to the Company
  • Challenges:
    • Family business needing larger platform to continue to compete with growing U.S. competitors
    • Significant cultural differences with purchaser created many deal obstacles
  • Outcome: In December 2012, Wolper Subscription Services, Inc. was sold to LM Information Delivery, a competitor of the Company, with headquarters in Finland.

Dever has been acquired by Von Allmen Capital Partners

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  • Background: Headquartered in Easton, PA, Wolper is a full-service information management resource, providing customized solutions for subscription management and related resources including print and electronic, foreign and domestic magazine and journal subscriptions, as well as books and e-books, databases, site licenses, and state-of-the-art information management tools.
  • Cassel Salpeter:
    • Served as financial advisor to the Company
  • Challenges:
    • Family business needing larger platform to continue to compete with growing U.S. competitors
    • Significant cultural differences with purchaser created many deal obstacles
  • Outcome: In December 2012, Wolper Subscription Services, Inc. was sold to LM Information Delivery, a competitor of the Company, with headquarters in Finland.

Avanti has been acquired by the Avanti Management Team and Gen Cap America

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  • Background:  Headquartered in Miami, FL, Avanti is an innovative leader in the consumer appliances industry, targeting the niche compact home appliances sector and offering consumers a complete line of products, including microwaves, gas and electric ranges, dishwashers, portable laundry machines, water dispensers, upright and chest freezers, and compact and mini-kitchens.
  • Cassel Salpeter:
    • Served as financial advisor to The Mackle Company, Inc. (owner of Avanti Products)
    • Ran a competitive sales process, identifying and contacting over 80 financial parties
  • Challenges:
    • Achieve significant price for family owner, while transitioning Avanti management team to minority ownership with private equity partners
    • Low growth business in a competitive space
  • Outcome: In November 2012, Avanti was sold to the Avanti Management Team and Gen Cap America, Inc., a private equity firm based in Nashville, TN.

S&H Solutions has been acquired by ProLogic Redemption Solutions

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  • Background: Headquartered in Delray Beach, FL, S&H Solutions provides  a software loyalty platform that  enables retailers to create, manage, and enhance customer loyalty programs anddeliver real-time, personalized marketing and shopper insights. The Company is a descendant of S&H Green stamps, widely known as the original loyalty marketing program that distributed billions of stamps that consumers collected and redeemed for merchandise.
  • Cassel Salpeter:
    • Was mandated to sell S&H on behalf of the parent Company
    • Ran a competitive sales process, identifying and contacting over 100 strategic and financial parties
  • Challenges:
    • Potential contingent liabilities
    • Changing business model towards SaaS based revenue
    • S&H business relationship with parent’s other businesses
    • Non-core operation of parent, operating within a rapidly changing technology environment
  • Outcome: In April 2012, S&H Solutions was sold to ProLogic Redemption Solutions, a portfolio company of Marlin Equity Partners and one of the industry’s largest clearinghouses for manufacturer coupons.

Restructuring and 363 Sale for Gulfstream International Airlines

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  • Assisted company and secured creditors in the 363 sale process, resulting in the successful sale to Chicago-based hedge fund Victory Park Capital.  Served as financial advisor to secured creditors (multiple parties), and assisted company in proceedings and sale.
  • Commercial airline servicing daily routes among destinations in Florida, the Bahamas, the Midwest, and other locations.

Mergers and Acquisitions: Sell Side for Quipp

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  • Served as financial advisor to the company, completing its sale to ITW (Illinois Tool Works Inc.).
  • Designs, manufactures and installs material handling systems and equipment to facilitate the automated inserting, assembly, bundling and movement of newspapers from the printing press to the delivery truck.

Mergers and Acquisitions: Buy Side for AFP Imaging

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  • Served as financial advisor to the company, completing a sale of Quantitative Radiology, srl, its technology assets, and intellectual property in Italy.
  • Manufacturer engaged in designing, developing, manufacturing and distributing equipment for generating, capturing and producing medical and dental diagnostic images.

 

 

Mergers and Acquisitions: Buy Side for DadePaper

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  • Served as financial advisor to the company completing 5 buy-side transactions over a 3 year period.
  • Foremost supplier of paper, plastic, chemical, foam, and janitorial supplies servicing the Eastern United States, Puerto Rico, and the Caribbean.