Happy Holidays and welcome to the November issue of ACM Capital Partners’ Value Line newsletter. In this issue, you will read about a new listing for the sale of a hardware brand and related equipment and inventory located in New Jersey, and two financial advisory engagements – a restructuring engagement for a $20M textile company in the Southeast and a financial and accounting review of a $70M equipment retailer in the Northeast. Plus, exciting news on the ACM Capital Fund front!
ACM SECURES ENGAGEMENT TO SELL THE VON MORRIS HARDWARE BRAND AND RELATED ASSETS
The firm announced it has obtained permission from the courts to market and sell the Von Morris brand and related assets, including $6 million in assets which are located in New Jersey. Von Morris is a manufacturer of extraordinary architectural hardware, including specially designed suited trim, knobs, levers, rosettes, turn piece trim, collars, push plates, specialty locks, hinges, and hardware accessories. The company has more than 200 proprietary designs and is one of the only manufacturers to offer guarantees to clear coat finishing’s through its ETERNA™ life long finish. It has also achieved the internationally recognized ISO 9002 certification for standardization, which is recognized by more than 360 distributors across the US.
This engagement represents the fourth time in 2013 where the firm has been sought to market a unique asset to the public. We have successfully completed three other sales similar to this project, including a retail furniture store, a cellular phone distributor and a circuit board assembler. “We continue to see activity in this type of engagement which is a natural fit for our stable of professionals and deep client base,” said Jim Martin, Managing Partner of ACM Capital Partners.
ACM LANDS TWO NEW ENGAGEMENTS
ACM has been engaged by a textile company based in the Southeast to assist the stakeholders with determining the best course of action for this recently integrated business. Our professional’s main focus is to determine how quickly the plants can generate sufficient and sustainable cash flow to fund operations. According to ACM Director Michael Samach, “This is another example of a lack of focus on small business fundamentals – namely, managing cash flow.”
The firm also announced an accounting and financial review of a $70M equipment retailer located in the Northeast. “The assignment is a familiar one for our firm,” said Martin. “We are being asked by the lender to help trace cash and help determine the burn rate.” The company has been delinquent on its debt service and the firm has been asked to determine the main cause.
ACM CAPITAL FUND BRINGS IN TWO NEW INVESTORS, NEARING NEW WAREHOUSING LINE
ACM Capital Fund (www.acmcapitalpartners.com/about-the-fund/) has added two additional investors during November. The Fund is also in the underwriting stage of a new warehousing line through which additional deals will be funded. “We are very excited about the growth of the Fund and the level of commitment we have received by investors for 2014 and beyond,” said founder Jim Martin. “The Fund is a perfect complement to our existing advisory practice. The sheer number of deals closed together with our robust pipeline, underscore this fact.”
