Carl Marks Advisory Group Advises Industrial Color Brands In Recapitalization
NEW YORK, July 18, 2012 /PRNewswire/ -- Industrial Color Brands (ICB), a family of integrated creative production companies, has successfully completed a recapitalization of its balance sheet through its partnership with Webster Capital, a private equity firm headquartered in Waltham, Mass. The investment banking group of Carl Marks Advisory Group LLC served as exclusive financial advisor to ICB.
Carl Marks was engaged by ICB to assist with the exploration of strategic options, including a prospective capital raise. Carl Marks reviewed the company's business plan, performed due diligence, led negotiations with potential investors, and structured the transaction between ICB and Webster Capital.
Founded in 1991, ICB redefines the digital photography and video industry as one of the largest, independent creative production firms in the United States. Starting as a boutique graphic design shop in New York City, ICB has grown through strategic investment into a branded creative production company and a cloud-based provider of software services to its blue-chip client base, which includes national consumer brands, retailers, top media and advertising agencies. The company's primary software solution, GLOBALedit, is the industry standard for a cloud-based, secure way to collaborate and manage digital media content throughout the creative production process. ICB's brands include Industrial Color, Impact Digital and Fast Ashley's Studios, with offices located in New York, Los Angeles and Miami.
"It was a complex deal that achieved our client's dual goals of substantial liquidity with an excellent partner for growth," said Warren H. Feder, partner, Carl Marks Advisory Group. "The partnership between ICB and Webster Capital was fueled by goodwill from the very beginning, and this will allow ICB to flourish and continue to be the leading player for the creative production industry."
"Carl Marks' successful track record in leading companies through the recapitalization process produced optimal results for ICB to grow and capitalize on the enormous opportunity ahead," said Steve Kalalian, president, ICB. "We're very pleased with the process from start to finish."
The Carl Marks team was led by Warren Feder and Michael Gordon. Other professionals who worked on the transaction include:
- Michael Platner of Lewis Brisbois Bisgaard & Smith LLP, led the legal team;
- Michael Lopez of EisnerAmper LLP Accountants and Advisors, provided tax and accounting advice; and
- Stephen Chin of Financial Structures and Advisory Inc., provided financial advice to the shareholders and arranged attractive debt financing.
About Carl Marks Advisory Group LLC and Carl Marks Securities LLC
Carl Marks Advisory Group LLC, with offices in New York, Bedminster, N.J., and Charlotte, N.C., provides a wide array of investment banking and financial, operational, real estate and healthcare advisory services to the middle market, including mergers and acquisitions advice, sourcing of capital, financial restructuring plans, strategic business assessments, improvement plans and interim management. Carl Marks Advisory Group is the recipient of the 2011 M&A Advisor's Debt Financing Deal of the Year.
Carl Marks Securities LLC, based in New York, assists its clients in executing private placements of debt and equity. The firm is a member of FINRA and SIPC. Additional information about Carl Marks Advisory Group LLC and Carl Marks Securities LLC is available at www.carlmarks.com.
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