Capstone Partner’s Financial Advisory Services (FAS) team provided a range of financial and transaction advisory services to the Ohio Art Company (Ohio Art or the Company) as part of its strategic plan to acquire Allstate Can Corporation (Allstate).
Ohio Art is one of the world’s leading metal lithographers, producing a wide range of custom metal packaging and products. It is also widely known to the public as the creator and original manufacturer of the iconic Etch-a-Sketch children’s toy.
Allstate Can Corporation has, for more than 100 years, been one of the world’s largest producers of industrial and decorative tin packaging products.
“Our Company had an existing relationship with Allstate Can, which was one of our larger customers,” said Ohio Art CEO Elena West. “We knew they would be a great addition to our business and a key part of our strategic growth plan, but it had been a very long time since we’ve conducted a transaction like this one. Our long-time lender, Huntington National Bank, suggested we contact the Financial Advisory Services team at Capstone for assistance, and we could not have been more satisfied with the services they provided – from the initial negotiations through the diligence process – they were on top of all aspects of the process.”
Buy-side advisory services provided by Capstone’s Financial Advisory Services team included target valuation services, negotiation of the Letter of Intent (LOI), financial due diligence, and buy-side quality of earnings analyses. FAS also worked to facilitate a refinancing process with the firm’s Debt Advisory Group, the proceeds of which ultimately provided funding for the transaction. Read more about that engagement here.
“This is an excellent example of the advantages that a holistic advisory firm can bring to a transaction,” said FAS Managing Director Harvey Mason, who led the advisory engagement. “Not only were we able to support all the financial due diligence and buy-side M&A advisory functions that Ohio Art needed, we were also in a position to integrate our work with Capstone’s Debt Advisory team, to ensure seamless support throughout the process.”
Capstone’s Financial Advisory Services Group has an extensive array of advisory services that support the full business lifecycle and help owners, operators, and investors preserve, create, and accelerate value. For information on how we can help your business grow and thrive, please contact us.
