Harris Williams & Co. Advises National Pen Company LLC in its Sale to Lincolnshire Management
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announced the sale of National Pen Company LLC (National Pen), the leading global provider of direct mail promotional pens and other products, to Lincolnshire Management (Lincolnshire). National Pen was a portfolio company of Berwind Corporation (Berwind). Harris Williams & Co. acted as the exclusive advisor to National Pen. The transaction closed on Nov. 20, 2012, and was led by Patrick Hanraty, Nathan Bouknight and Justin Shuman from the firm’s Philadelphia office.
The transaction represents the second direct marketing transaction on which Harris Williams & Co. acted as advisor in the last six weeks. In October, Harris Williams & Co. also advised on the recapitalization of Asset Marketing Services (AMS), a leading multi-channel direct marketer of high-value collectible coins and proprietary branded jewelry and watches. Strong demand continues for direct marketing businesses with loyal customers among certain demographics.
National Pen, headquartered in San Diego, is a leading direct mail provider of personalized promotional products globally. National Pen differentiates itself through its superior mailing capabilities, state-of-the-art decorating, integrated manufacturing and its unique go-to-market strategy. National Pen has a large and diverse customer base of approximately one million customers in the U.S., Canada, Europe, Australia and New Zealand. Berwind is a fifth generation family-owned investment management company based in Philadelphia, PA with its roots dating to 1886. Berwind takes a long-term perspective in acquiring and investing in solidly performing companies that are leaders in their market niche. Berwind targets middle market companies with transaction values of $75-700 million, and focuses on manufacturing businesses in a broad range of industries including pharmaceutical, specialty chemical, office and craft, automotive, consumer and natural resources.
Lincolnshire is a middle market private equity firm that manages $1.7 billion and focuses on acquiring business platforms with $50-500 million in revenue that can be meaningfully grown organically and through acquisitions. Lincolnshire has completed more than 70 acquisitions, and is currently investing its $835 million private equity fund, Lincolnshire Equity Fund IV.