Cambridge Tombstone

DAK Announces Sale of Cambridge Silversmiths, Ltd., Inc. to Lenox Corporation

Rochelle Park, NJ – DAK, a leading investment bank specializing in middle-market mergers and acquisitions worldwide, announces that its client Cambridge Silversmiths, Ltd., Inc. has been sold to Lenox Corporation. DAK served as the exclusive investment banker and financial advisor to Cambridge initiating and managing the entire transaction process. DAK identified a number of exceptional acquirers of which Lenox Corporation emerged as the superior partner. Bringing these two great companies together forms a powerhouse in the tabletop and giftware space.

Cambridge Silversmiths, Ltd., Inc. is the industry leader for design and innovation of flatware and tabletop accessories. Cambridge is ranked as the #1 national flatware brand, and the #3 national tabletop brand by the NPD Group. The combination of Cambridge and Lenox creates a dynamic organization with the deepest and widest range of exclusive tabletop and kitchenware products. Cambridge’s unique tabletop products including flatware, kitchen and serving accessories, barware, drinkware, and coaster products can be found in major retailers across the United States, Canada and beyond.

The owners of Cambridge have built an extraordinary company with an extraordinary reputation and a loyal and devoted customer base. This transaction has afforded them the opportunity to gain a strategic partner to accelerate their vision of growth.” stated Alan Scharfstein, CEO of DAK, who along with Ari Fuchs, Managing Director, Derek Zacarias, Director, and Alex Slawinski, Analyst engineered this transaction.

This strategic transaction capitalizes on Cambridge Silversmiths leadership position in the flatware and tabletop industry’s and will enhance the depth of products and customers for Lenox.

About DAK

DAK is a leading investment bank serving mid-market privately held businesses in the areas of mergers and acquisitions, business sale, financial restructuring, bankruptcy, capital advisory, valuations, and fairness opinions. Since 1984, DAK has executed hundreds of transactions across a wide range of industries. The goal is always the same, to maximize value for our clients. Headquartered in Rochelle Park, NJ, with clients throughout the country.

About Cambridge

Cambridge Silversmiths, Ltd., Inc., a family-run business working together for three generations, has become an industry leader in design and innovation, selling to all major retailers primarily under their own brand names or as licensee for celebrities, designers, and well-known home brands. Through Cambridge’s design principles of quality, style, and value, they are known in the industry for offering a variety of innovative processes and materials and are often the first to market with new techniques, finishes, and trends.

About Lenox Corporation

Lenox, an American company and market leader in tableware and giftware, was founded in 1889 with a singular vision to set the highest standards for quality, artistry, and beauty. The company markets its products under the Lenox, Oneida, Hampton Forge, and Reed & Barton brands. In addition to its core brands, Lenox creates and distributes the Kate Spade New York tabletop collection. Lenox products are sold through major e-commerce retailers, department stores, mass merchants, and gift and specialty retailers, as well as through the company’s own websites. Over its 130-year history, Lenox has been the recipient of numerous design awards and has the distinction of being the first American dinnerware used in the White House. Lenox is headquartered in Bristol, PA.

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VCI – Emergency Vehicle Specialists recapitalized by Tightrope Capital & NewSpring Capital

VCI is the preeminent full lifecycle sales and service provider of emergency ambulance solutions to first aid squads, EMS organizations, fire departments, hospital organizations, municipalities, and private medical transport companies in the Mid-Atlantic Region. VCI was recapitalized by private equity firms Tightrope Capital Partners and NewSpring Capital.

DAK led a competitive, sell-side process for VCI, generating multiple offers from a wide range of strategic buyers and financial sponsors. By positioning the combination of VCI’s market leadership position, comprehensive services offering, strong manufacturer relationships, and robust backlog, DAK achieved an outstanding outcome for the company’s shareholders.

The acquisition provides the shareholders of VCI an opportunity to accelerate its growth strategy by expanding its core ambulance business, building out the value-added segments of conversions and remounts, implementing operational improvements, and pursuing acquisitions with the help of its new partners. Tightrope and NewSpring have an opportunity to leverage VCI’s strong management team and operating platform to build a multi-regional player in emergency ambulance solutions.

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