Empire Scientific, Inc. acquires Mr. Bracket, Inc.
Mr. Bracket is a 15-year-old branded manufacturer and marketer of interior automotive gadgets and wireless phone accessories. The company sells its products to prestigious specialty retailers and mass merchandisers. The sole shareholder wanted to sell the business to a strategic industry buyer so that he could refocus his management skills on other businesses owned by his family. The shareholder correctly believed that the timing for a sale was good because of Mr. Bracket’s favorable brand image, the company’s lucrative customer list and an improved national economy. The shareholder specifically sought highly competent and focused representation for a prompt, confidential sale of the business.
Empire Scientific is a 40-year-old market leader that sells batteries, chargers and accessories to retailers, wholesalers, distributors and manufacturers in the cellular, video and cordless telephone segments of the consumer electronics industry. Empire Scientific saw the value of Mr. Bracket’s name, brand, product line and market share. Additionally, Empire Scientific recognized the potential to cross-sell each company’s products to the other company’s customer base. Empire Scientific purchased Mr. Bracket and consolidated operations in Deer Park, New York. Empire Scientific also maintains distribution centers in Illinois and Florida.
C.V. Lemmon & Co. served as exclusive financial advisor to the shareholder of Mr. Bracket. Our services included designing a comprehensive selling program, preparing offering materials, researching for and contacting numerous potential purchasers, evaluating proposals and coordinating negotiations through the closing for maximum value.
Thrilled with the results of this successful sale, the selling shareholder was very appreciative and complimentary of C.V. Lemmon & Co.
