Mergers

Tully & Holland works on behalf of the seller to evaluate, recommend, structure and close the transaction. more info >>

Acquisitions

On behalf of the buyer, Tully & Holland conducts searches, negotiates and structures the transaction and follows through to closing. more info >>

Private Placements

Tully & Holland is licensed to assist clients in raising equity and debt for expansion, acquisitions or recapitalizations.
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Valuations

Tully & Holland provides valuation services to current and prospective clients. more info >>



Tully & Holland Newsletter

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Transactions

A selection of recently completed transactions by Tully & Holland, Inc. See listings >>

 
Tully & Holland
20 William Street, Suite 135
Wellesley, MA 02481

781.239.2900
info@tullyandholland.com

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Press Releases

Multichannel Merchant quotes Chris Kampe, Tully & Holland's Retail Group Managing Director, regarding Bakers Footwear Filing for Bankruptcy

February 13, 2013

Bakers Footwear Group Inc. has filed for bankruptcy and is liquidating its remaining 56 mall-based locations throughout the country according to a release on Businesswire.com.  Last October, the St. Louis women’s shoe company filed for bankruptcy protection. The shoe company fell 5.9% compared to 2011 squeezing the company’s cash and causing it to default on a loan. Financial troubles are so bad according to Bloomberg Businessweek, that Bakers Footwear listed assets of $41.9 million but a debt of $59.5 million.  According to Chris Kampe, managing director with Massachusetts-based investment banking company Tully & Holland Inc., Bakers have had operating losses for at least four years.  “Even when it was profitable, when it went public – it wasn’t profitable as it should have been,” said Kampe.

 

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Tully & Holland Announces Sale of Selected Assets of Gallon Jug Agroindustry, Ltd. to The Forestland Group, LLC

January 22, 2013

Tully & Holland ("T&H")is pleased to announce its role as exclusive financial advisor to Gallon Jug Agroindustry, Ltd. in its sale of selected assets to The Forestland Group, LLC.  These assets, including 104,000 acres of land located in Central America, were sold to Laguna Seca Land, LLC, a newly formed company of The Forestland Group.

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Tully & Holland Advises Phelps Industries, LLC in its Sale to Wafra Investment Advisory Group, Inc.

January 14, 2013

Tully & Holland ("T&H")is pleased to announce its role as financial advisor to Phelps Industries, LLC in its sale to Wafra Investment Advisory Group, Inc. Phelps Industries manufactures and markets specialty pet treats sold under private label and contract manufacturing agreements to leading retailers and pet food markets throughout the world.

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Tully & Holland Advises Brady Enterprises, Inc. in its Sale to Sequel Holdings, L.P.

January 11, 2013

Tully & Holland ("T&H")is pleased to announce its role as exclusive financial advisor to Brady Enterprises, Inc. in its sale to Sequel Holdings, L.P.  Brady Enterprises, Inc., manufactures and packages various powdered food products and food ingredients for leading companies in the consumer packaged goods industry.  The transaction included a co-investment by Gemini Investors.

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Tully & Holland Announces Sale of Cuddledown To Potpourri Group

December 31, 2012

Tully & Holland ("T&H")is pleased to announce another successful sell-side M&A assignment in the direct marketing sector. Tully & Holland advised Cuddledown in its sale to Potpourri Holdings, Inc., ("Potpourri") a portfolio company of American Capital, Ltd. (NASDAQ: ACAS). Potpourri is a leading catalog and internet retailer of apparel and gifts sold through over a dozen individual titles, including Potpourri, Northstyle, Expressions and In the Company of Dogs.

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Shopping Centers Today quotes Chris Kampe, Tully & Holland's Retail Group Managing Director, regarding Dots, LLC, a Rapidly Growing Retailer.

December 12, 2012

Dots, a seller of inexpensive private-label women's clothing, shows no fear of a weak economy.  In fact, given the number of stoers it plans to open, the chain appears to like tough times.  Glenwillow, Ohio-based Dots operates about 400 stores across 28 states and says it wants to push that to 1,000 over the next five years.   Not many retailers have such audacity in this recession.  But Dots does because it can rely on private equity and undervalued real estate, and sources point to lots of geographic room for expansion.

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Tully & Holland Advises Belize Aquaculture, Ltd., in its Joint Venture

September 6, 2012

Tully & Holland, Inc. is pleased to announce its role as financial advisor to Belize Aquaculture, Ltd in its joint venture with Thailand-based Seafresh Industry Public Co., Ltd. (CFRESH: Bangkok).

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Tully & Holland Advises HSN, Inc. in the Sale of The Territory Ahead

August 1, 2012

Tully & Holland, Inc. is pleased to announce its role as financial advisor to HSN, Inc. (Nasdaq: HSNI) and its subsidiary, Cornerstone Brands, Inc., in the sale of The Territory Ahead to Territory Ahead Apparel, Inc., an affiliate of Blackstreet Capital.

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Multichannel Merchant quotes Chris Kampe, Tully & Holland's Retail Group Managing Director, regarding Brentwood Associates' Acquisition of Sundance Catalog.

July 9, 2012

Brentwood Associates acquired a majority stake in Sundance Catalog from ACI Capital, Webster Capital and Robert Redford, Sundance Catalog’s founder. Terms of the deal were not disclosed. According to Chris Kampe, Tully & Holland’s Retail Group Managing Director, the transaction was valued between $100 million and $150 million. Investors received a 6-time return on their investment of capital while Sundance’s EBITDA is about $14 million on annual sales of more than $100 million.

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Multichannel Merchant quotes Chris Kampe, Tully & Holland's Retail Group Managing Director, regarding Potpourri Group's acquisition of FetchDog.

June 11, 2012

Potpourri Group acquires FetchDog, the high end dog accessories catalog and online merchant, for an undisclosed amount. According to Chris Kampe, Tully & Holland’s Retail Group Managing Director, “This transaction is consistent with the theme about ecommerce dominating multichannel M&A transactions, with both catalog companies and brick-and-mortar retailers acquiring internet retailers in similar product categories.” [For more of Chris’ view on M&A trends in the retail industry, click here for his recent article in Multichannel Merchant.]

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Multichannel Merchant quotes Chris Kampe, Tully & Holland's Retail Group Managing Director, regarding Sycamore Partners' second bid to acquire struggling Talbots.

May 9, 2012

In December 2011, Talbots rejected a bid from private equity firm Sycamore Partners. In a move indicating this acquisition as a priority for Sycamore, the firm has upped its offer from $3.00 per share to $3.05 per share to acquire outstanding stock of the company. Chris Kampe, Tully & Holland’s Retail Group Managing Director, said Talbots has endured serious financial difficulties – posting losses in four of the past five years. “The Sycamore offer could be the best option for Talbots,” says Chris.

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Multichannel Merchant quotes Chris Kampe, Tully & Holland's Retail Group Managing Director, regarding the Galls and Quartermaster merger.

February 6, 2012

Galls, a B2B merchant of public safety equipment, has merged with Quartermaster, a specialty distributor of public safety products. Galls serves about 1 million customers, while Quartermaster has 100,000 active customers. Quartermaster had been owned by Parallel Investment Partners since 2005, “so they have been in the investment for six years,” says Chris Kampe, Tully & Holland’s Retail Group Managing Director. “Typically, the hold period is five years so it was high time for Parallel to exit its investment. Galls was really the quintessential strategic buyer for Quartermaster because of the overlap in products carried and markets served.”

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Tully & Holland advises GameStop in the divestiture of its MovieStop division.

January 18, 2012

Tully & Holland is pleased to announce its role as financial advisor to GameStop in the divestiture of its MovieStop division to MovieStop LLC.

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Tully & Holland advises Catalog Marketplace, Inc. d/b/a Glendale in the sale of its assets to Capital Resources Partners.

January 17, 2012

Tully & Holland is pleased to announce its role as financial advisor to Catalog Marketplace, Inc. d/b/a Glendale in the sale of its assets to Capital Resource Partners. BCA Mezzanine Fund provided senior debt and preferred equity capital in support of CRP's acquisition.

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Multichannel Merchant quotes Chris Kampe, Tully & Holland's Retail Group Managing Director, regarding Talbots’ rejection of Sycamore Partners' purchase offer.

December 21, 2011

Earlier this month, private equity firm, Sycamore Partners offered to buy Talbots for $3 a share. Talbots has turned down the offer from Sycamore (a 9.9% shareholder in Talbots) stating that the proposal is “inadequate and substantially undervalues the company,” choosing instead to explore strategic alternatives. In the article, Tully & Holland Managing Director, Chris Kampe, explains Talbot’s alternatives and their likely reason for rejecting the bid.

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Multichannel Merchant quotes Chris Kampe, Tully & Holland's Retail Group Managing Director, regarding Sycamore Partners' offer to purchase Talbots.

December 7, 2011

Private equity firm, Sycamore Partners submitted an unsolicited offer to purchase the struggling retailer, as Talbots continues to attempt to improve its deteriorating trends. In the article, Tully & Holland Managing Director, Chris Kampe, identifies some of the key challenges facing the troubled retailer: “Talbots continues to suffer from severe same-store sales declines each quarter. Gross margins have been negatively impacted by markdowns and promotions. The result has been further declines in profitability.”

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What Will 2012 Bring For Multichannel Mergers and Acquisitions? In Multichannel Merchant's article, Chris Kampe offers M&A activity projections for catalog and internet retail companies.

November 1, 2011

Tully & Holland Managing Director, Chris Kampe, forecasts a continued shift toward internet transactions and expects further divestiture of non-core catalog titles: “Faced with lower profitability levels, smaller catalogs will continue to gravitate toward an internet retail model and prompt some smaller catalog companies to sell.”

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Multichannel Merchant quotes Chris Kampe, Tully & Holland's Retail Group Managing Director, regarding Harry & David's emergence from bankruptcy.

September 1, 2011

Harry & David is poised to emerge from bankruptcy as its Chapter 11 reorganization plan, including debt conversion and equity financing, has been approved by the courts. Chris Kampe, Managing Director for Tully & Holland's Retail Group discusses the plan with Multichannel Merchant.

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Chris Kampe, Managing Director Tully & Holland Discusses Strong M&A Conditions in SGB Weekly, The Weekly Digital Magazine for the Sporting Goods Industry

August 8, 2011

SGB Weekly - The Weekly Digital Magazine for the Sporting Goods Industry - quoted Chris Kampe in the article titled, "The Return of the Blockbuster Deal." The article highlighted the recent uptick in M&A transactions and rising valuations in the sporting goods sector.

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Chris Kampe, Managing Director Tully & Holland Retail Group Discusses Williams-Sonoma expansion to London

August 1, 2011

Williams-Sonoma is considering retail space in London after recently launching international and online ordering and shipping for 75 countries. Chris Kampe, Managing Director for Tully & Holland's Retail Group discusses the expansion with Multichannel Merchant.

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