 Company Overview
Keystone Findings, Inc. is a Telford, Pennsylvania-based manufacturer of an expanding
line of precious metal products serving the international jewelry industry.
Its main product line is bridal goods, including engagement rings, setting
and ring shanks, bridal sets and wedding bands. Peripheral lines include earrings,
plates and various other components used in the construction of fine jewelry.
Situation
The nationwide recession and resulting precipitous decline
in retail sales hit every industry hard, but perhaps none harder
than the jewelry industry. With its shareholders looking for liquidity
for retirement and estate planning purposes, Keystone Findings
was looking for a new home. However, in the current economic environment,
in order to successfully conclude a sale transaction, it needed to identify the right partner.
Solution
Keystone retained Griffin as exclusive financial advisor
to advise on identifying the right partner and executing a sale transaction. Griffin’s role included
assisting Keystone in analyzing the jewelry
manufacturing business, conducting a search for the optimal
financial or strategic buyer, identifying cost savings and
revenue enhancement potentials available to buyers and assisting
in negotiating and structuring the terms of the merger, among
other responsibilities. This resulted in Keystone merging with
Hoover & Strong, Inc., one of the
nation's largest refiners and manufacturers of precious metals.
The transaction will result in the companies combining their
operations in Hoover & Strong’s facility in Virginia.
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For more information on this transaction,
please contact Mark
Russell, Managing Director, at 610.478.2166.
For more information on Griffin’s services in general, contact
any one of our investment banking professionals.
Griffin Financial Group provides merger and acquisition advisory,
capital formation, strategic consulting and private equity
placements and related services. Griffin also assists businesses
in obtaining financing through private placements of debt and
equity, including those businesses facing special situations,
such as financial restructuring and turnarounds. Griffin is
an SEC-registered broker-dealer and FINRA member. |
