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Chicago, Illinois – January 2, 2018; City Capital Advisors, a Chicago-based middle-market investment bank, is pleased to announce that it acted as exclusive financial advisor to LifeSpan Brands in the sale of its iconic LAVA® branded lamp, party products and novelty lighting business to Schylling, Inc. as well as the sale of its scale business to Escali, Inc.
Sale of the LAVA® Business:
Schylling purchased a majority of the business through the purchase of the Lava products line. “LAVA® lamps are truly iconic,” said Paul Weingard, President of Schylling Inc. “For over 50 years, people of all ages have been enjoying the magic of LAVA® lamps. It’s one of the most recognized consumer shapes of all time. Our team at Schylling is very excited to continue the growth and innovation of this beloved brand.”
“Schylling has partnered with Lifespan as a distributor of LAVA® products since 2009,” said Bill Vandeventer, CFO of Schylling Inc. “We have an outstanding history with LAVA® and appreciate the strength and appeal of this brand. This acquisition adds another strong brand to Schylling’s portfolio.”
Sale of the Scale Business:
Lifespan Brands sold its Detecto branded scale business to Escali, Inc. based in Minneapolis, Minnesota. Escali will continue to sell the Detecto scales across distribution channels throughout the U.S.
About LifeSpan Brands
Lifespan Brands™, based out of Elk Grove Village, IL, designs, manufactures, sells and distributes a broad line-up of the well-known Lava Lamp and ancillary products. Founded in 1965, the product is found in a broadly distributed across many channels including the mass market channel, specialty stores, and on-line retailers. The Company holds the US trademark rights to both the shape and name LAVA® lamp. LAVA® products are sold across key distribution channels in US, Canadian and European retailers.
About Schylling
Headquartered in North Andover, MA, Schylling Inc. is a leading designer, manufacturer and distributor of branded toys, innovative gifts and collectible products. For over 40 years Schylling has been known for its high quality, classic toys and iconic collectables including jack-in-the-boxes, sock monkeys and tin toys. Schylling’s product stable includes toys created in partnership with select licensed properties, Thomas & Friends™, Curious George™, Star Wars™, Pixar™ as well as a broad line of products it distributes for exceptional brands including Basic Fun™ nanoblock®, Tiger Tribe®. Sea Monkeys®. In 2013, Schylling was acquired by Crofton Capital, LLC and Gladstone Investment Corporation. For more information, visit www.schylling.com.
About Escali
Escali, headquartered in Minneapolis, offers a full line of kitchen scales, body scales as well as kitchen thermometers and timers. Escali products are sold around the globe. They are widely recognized for precision measurement, useful features, smart styling and exceptional value. All models are multifunctional and provide information in a choice of standard or metric formats.
Featured in both the national and international press, Escali’s distinguished product development and technical team, led by industry expert Theo Prins, combines years of category experience with unparalleled commitment to new product innovation.
Escali products are tested by rigid military measurement standards – a process that contributes to an exceptionally low return rate and backed by industry leading product warranties and 100-percent satisfaction guarantee. The professional line includes NSF-approved models.
About Gladstone Investment Corporation
Gladstone Investment is a publicly traded business development company that seeks to make debt and equity investments in lower middle market businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Additional information on Gladstone Investment can be found at www.gladstoneinvestment.com
About Crofton Capital Crofton
Capital is a growth private equity firm based in the Boston area that invests in and provides strategic resources to small and midsize businesses based primarily in the northeast. Sectors of focus are consumer products and services, niche manufacturing, value-added distribution, business services, and software and technology-enabled services. For more information, visit www.croftoncap.com.
About City Capital Advisors
City Capital Advisors, a FINRA registered broker-dealer, is a results-oriented investment banking advisory firm. Each of City Capital’s Managing Directors has more than 20 years of investment banking experience, offering clients the judgment and transaction management expertise honed from successfully executing more than $60 billion of collective merger and capital market transactions. Client engagements are managed exclusively by experienced senior investment bankers, allowing business owners to capture maximum value for their companies and to exceed shareholder objectives.