Tully & Holland announces sale of toy and craft company
June 7, 2006
Tully & Holland Inc. is pleased to announce another successful conclusion to a sell-side M&A advisory engagement. The firm represented Brynwood Partners III L.P. of Greenwich, CT, in the divestiture of its portfolio company, Craft House Corporation, through two transactions. Craft House sold its crafts product lines to Chartpak Inc. of Northampton, MA and sold its model cars product lines to Hawk Model Co. of Cedar Rapids, IA.
Tim Tully, principal of Tully & Holland, stated, "We were pleased to identify acquirers who recognized the value of Craft House's roster of heritage brands including Original Paint By Number guided art kits and Lindberg plastic model kits, and we are pleased that these acquirers will build on the quality innovations recently introduced by Craft House."
About the client
Craft House was a Toledo, Ohio maker of paint-by-number kits and other arts and crafts kits, a line that traced back to the Craft Master paint-by-number kits created in 1951. Brynwood Partners is a Greenwich, Connecticut private equity firm, founded in 1984, that focuses on leveraged buyouts and other control investments.
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