Clarion Capital Partners has acquired the Cross Accessory Division from A.T. Cross
Lincoln International (“Lincoln”), a leading global mid-market investment bank, announced today the successful completion of a financing in support of Clarion Capital Partners, LLC’s (“Clarion”) acquisition of the Cross Accessory Division (the “Company” or “Cross”) from A.T. Cross Company. Headquartered in Lincoln, Rhode Island, Cross is a leading designer and marketer of branded personal and business accessories, marketed under the Company’s iconic Cross brand name. The Company provides a range of distinctive products, including fine writing instruments, watches and personal and business accessories.
Lincoln acted as exclusive financial advisor to Clarion, helping to structure and arrange the financing. The debt financing consisted of a senior asset based revolving credit facility provided by HSBC Bank and a unitranche term loan provided by GSO Capital Partners.
Matt Feldman, a Principal of Clarion, commented, “We were pleased with the outcome of Lincoln’s financing advisory services. By partnering with Lincoln on the financing, we were able to focus our attention on a complex, cross-border, public carve-out M&A transaction, while Lincoln helped us secure a comprehensive financing solution that provided the Company with the capital needed to complete the acquisition as well as to fund its expected growth.”
About Cross
Building on the rich tradition of its award-winning writing instruments and reputation for innovation and craftsmanship, Cross is a designer and marketer of branded personal and business accessories. The Company provides a range of distinctive products that appeal to a growing market of consumers seeking to enhance their image and facilitate their lifestyle. Cross products, including award-winning quality writing instruments, timepieces, non-prescription reading glasses and business accessories, are distributed in retail and corporate gift channels worldwide. For more information, please visit the Cross website at www.cross.com.
About Clarion Capital Partners, LLC
Clarion Capital Partners is a New York based middle market private equity firm that invests in growth companies in a variety of industries including Consumer Products and Specialty Retail, Media & Entertainment, Business Services, Healthcare Services and Specialty Financial Services. Clarion primarily focuses on making equity investments in the range of $15 to $50 million in companies with enterprise values of $50 to $200 million. Additional information on Clarion can be found at www.clarion-capital.com.
View More Transactions
Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.