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Press Releases

August 2017 – Aerospace and Defense M&A Update

Projected aerospace and defense (“A&D”) sector financial performance feeds into an optimistic outlook regarding the industry’s mergers and acquisitions (“M&A”) activity for the remainder of 2017 despite its relatively slow start.  A&D industry deal value reached $13.8 billion in the first quarter of 2017, representing a 20% decline compared with about $17.1 billion in M&A activity in the fourth quarter, according to a recent PwC report.  However, the same report also noted that the “industry began 2017 with increased investment interest … in comparison to a year ago.”  Thus, the A&D industry is not off track to meet or even surpass 2016’s M&A performance for the full year which is what Cross Keys is also seeing from its domain professionals.   Lots of talk of deals and tremendous interest, just difficult to find enough quality companies seeking to sell at just a premium – as opposed to an outrageous – market valuation.

GDP growth, mixed with relatively low oil prices and millenials’ desire for experiences over “things” has created a very high demand for commercial flight volume both in the U.S. and internationally.  As such, the airlines need to purchase commercial aircrafts if they hope to keep up with demand, which long-term will lead to increased revenues throughout the A&D sector. Such passenger growth has already led to more carriers replacing antiquated jet fleets and the ordering of new planes to expand service.  Even those carriers proud of their elder-aged fleet and therefore least apt to purchase new planes getting into the fold (e.g. reference Silver Airways announced $1.2 billion new airplane acquisition program just yesterday and Allegiant Airlines taking delivery of 6 new A319’s in 2016 after 9 new A320s were purchased only a few years back).  PwC expects M&A activity in the aerospace sector to increase directionally along with industry demand which is certainly on the rise.   And this likely includes multiple sectors, such as parts trading, MROs, airports, baggage handling, travel agencies, and related services.

In addition to commercial growth, defense spending is expected to increase as well. Global tensions have increased in a number of countries, including United Arab Emirates, Saudi Arabia, India, South Korea, Japan, China, and Russia. Growth in the defense subsector is expected to continue at an increased pace under the Trump Administration, and, as Bob Long, a US Aerospace and Defense Deals Leader, put describes, “Defense spending increases and geopolitical factors will certainly play a part in the prevalence and magnitude of deal making through the rest of 2017.”  Cross Keys has seen this first-hand with its recent work in the military uniform space, barrier and physical protection, and mission-critical deployment areas.

Scott Thompson, another US Aerospace and Defense Leader with PwC, has predicted $18 billion or more in deals still to come in 2017, so despite A&D’s slow start this year, overall growth in the A&D is expected to increase as 2017 continues.  Cross Keys absolutely concurs with this sentiment.

 

References: https://www.pwc.com/us/en/industrial-products/publications/aerospace-defense-quarterly-deals-insights.html

https://www2.deloitte.com/us/en/pages/manufacturing/articles/a-and-d-outlook.html

http://www.cnbc.com/2017/04/19/defense-and-aerospace-merger-activity-sees-soft-start-to-2017.html


August 2017 – Current M&A Overview

As corporate buyers, private equity firms, global investors, and industry giants compete for space in the mergers and acquisitions (“M&A”) market, deal prices for acquisitions are higher than ever.  Corporate buyers have leveraged their cash reserves to outbid private equity firms and are  using acquisitions to add revenue streams and develop synergistic growth opportunities.  Private equity firms, however, must rely on investors’ capital.  This forces firms to execute deals quickly, so they close before the anticipated rise in interest rates and investors can see a fast return (often chasing IRR at the expense of dollars).  

As a result, corporate buyers have dominated the market of late, and private equity firms’ (PEG) cumulative deal value fell 17% during the first quarter of 2017 from the first quarter of 2016 while deal prices have simultaneously reached an all-time high (when measured by comparative multiples of enterprise value versus EBITDA; as reported by PitchBook).  Some say that the PEG volume drop is because the smart money is nervous about the future and staying on the sidelines, but we at Cross Keys do not believe that to be the case.  In essence, we foremost see (i) PEGs getting out-bid for quality assets and (ii) PEGs “bidding up” so that they can put capital to work (as opposed to the worst possible result, potentially having to return unused “dry power” to their limited partners at some date in the future).

Not to be discounted, private equity firms have increased their efforts to raise capital and have begun looking for new strategies to stay current.  According to PitchBook, readily available investment capital (the aforementioned “dry powder”) in North American and European funds has reached a high of $757 billion.  Private equity firms are also taking a more active role in the strategy and change implementation of their acquisitions, emphasizing their operational expertise and ability to grow a business in its respective industry, enticing acquisition targets every way they can vis-à-vis the strategic acquirers who many times seek change of control in the C-suite and cost-cutting over product expansion and other growth avenues.

In addition to corporate buyers and private equity firms, global investors and especially those highly liquid international family offices will soon be fierce players in the M&A market due to future tax law changes anticipated. The Trump administration has proposed plans to cut taxes on repatriation from 35% to 10%. If successful, this tax cut will not only incentivize corporations to bring cash reserves back into the United States, but it should also interest global investors. Saudi Arabia’s Public Investment Fund, for example, committed approximately $50 billion in global foreign investments last year and is looking to continue at the same rate in 2017. Previously deterred by high repatriation tax rates, the Fund is now considering more investments in the US due to the potential tax rate cuts.

Adding to the power of global investors in the M&A market, Japan’s richest man and head of the Japanese SoftBank Group Corp., Masayoshi Son, pledged in December of 2016 to invest $50 billion in the US and to spur job growth through deals with individual companies. This inflow of capital will increase acquisition demand, resulting in even higher deal prices for the largest M&A transactions which often has a reverberating effect into the middle market, the area where Cross Keys Capital focuses.

Acquisitions have proven to be the main focus for tech giants and their insatiable appetites for the latest advancements. Amazon and Apple have recently joined the bidding war for Toshiba’s chip business. The chip business, a semiconductor manufacturer that is the second largest in the world, is valued around $18 billion. Amazon has been focused on pervading all tech related markets, sacrificing profits to suffocate any competition that still exists. Walmart has also engaged in acquisition activity throughout the last year in an attempt to expand its ecommerce business. One of its more prominent acquisitions, Jet.com, acquired for $3.3 billion in 2016, has proven to be a major success. Walmart’s Q1 2018 fiscal year reported a 63% increase in US online sales and 69% growth in gross merchandise volume.  

Similar to technology, telecom is experiencing a similar mass consolidation play.  Although the 5G network is not set to launch for two to three years, spectrum licenses are limited, which creates high rivalry between the Telecom industry leaders and is driving acquisition urgency. Additionally, Deutsche Telekom, the majority shareholder in T-Mobile, has begun talks with Sprint about a potential merger so that they can compete more effectively against AT&T and Verizon, and Verizon has recently acquired the AOL Platform and Yahoo to enter the internet advertising space. The Telecom industry has been attempting to acquire businesses in pursuit of alternative growth sources due to the over saturation of the wireless service sector, so M&A activity in the Telecom industry is on the rise as industry leaders seek new sources of growth.

With so many buyers saturating the various markets, be they private equity, search funds, family offices, corporate strategics, or global investors, acquisition targets have a chance to see greater deal values within the M&A sector the remainder of 2017 and beyond.  Prices are near all-time highs (the former 5 – 6x multiple for sub-$100MM transactions now being a 7 – 8x range as a starting point), banks are lending at leverage multiples that have the Fed asking questions, and the utter supply and demand imbalance between the multitude of buyers and the dearth of quality sellers will keep M&A in the news for the foreseeable future.  That creates a vast cycle of competitive behaviors that has investment bankers in all facets of the M&A industry quite excited.

 


Trump Affect on M&A

August 2, 2017:

When Donald Trump was elected president on November 8, 2016, many were excited to see the changes he would bring to the business world through regulatory and tax law modifications.  President Trump spent much of his time campaigning with a populist agenda, touting the Middle American worker and assuring potential voters that he would “drain the swamp.” He stuck to this agenda when discussing business on the campaign trail, such as saying that he was against the megadeal that is the potential merger between AT&T and Time Warner and was not a fan of Comcast’s merger with NBCUniversal.

After the election, though, many questioned what Trump’s actual decisions would be on issues such as free trade, anti-trust, and minimum wage, noting Trump’s background as a lifelong businessman and the owner of an international conglomerate. Between Trump’s own strong-willed views of business and his Republican Party backing, many wondered if perhaps Trump would support business friendly modifications and mergers and acquisitions (“M&A”), especially domestically. In fact, in the first few weeks after taking office, Trump signed an executive order requiring the dismissal of two old regulations for every new one passed which seemed to be a precursor of what might be yet to come.

However, now eight plus months into the Trump presidency, regulatory changes still remain uncertain. Trump has proposed tax changes but nothing has been more than superficial (and timelines evasive), and it is still unclear if the executive branch will attempt to intervene in the AT&T and Time Warner merger plans as they indicated that they would have with the FanDuel/DraftKings saga. With certainty and predictability as driving lynch-pins of market-moving forces, it is no surprise that M&A is at somewhat of a lull domestically. According to a news report from Reuters, in recent months the US “saw some big deals, including U.S. medical equipment supplier Becton Dickinson and Co.’s $24 billion acquisition of peer C. R. Bard, Inc. But U.S. M&A volume, as measured by the total value of deals, was down. The number of deals stayed almost flat year-on-year, but the average size of transactions decreased.”  Deals are getting done, but given the banks willingness to lend and the surplus of money and suitors in the marketplace, this should be an even more robust M&A cycle.

There is an abundantly high level of cash held by acquiring strategic and financial investors alike, and sometimes companies choose to take advantage of a slower growth market by acquiring a business to achieve a desired growth level. Chairman of Americas M&A at Morgan Stanley, Michael Boublik, told Reuters, “There is a subset of companies which view the current environment as an opportunity. There is a little bit of a ‘dare-to-be-great’ mentality.” Deloitte agrees, writing in an Outlook for 2017 entitled “Uncertainty is the ‘new normal’” that “Bold, decisive moves in such times can potentially result in some of the most successful periods of deal-making for companies.”

On the other hand, some companies “are taking less risk, so there are fewer transformational deals and the mix of M&A has shifted toward more mid-sized transactions,” said Matt McClure, head of Americas M&A for Goldman Sachs Group Inc.  This transition has played right into the focal area of Cross Keys Capital the last handful of years.

As can be seen even through these seemingly-conflicting views from the heads of M&A at Morgan Stanley and at Goldman Sachs, no one is quite certain where M&A stands in the Trump administration, but for now it is the topic of much discussion.  Trends can change on a dime in cyclical industries and marketplaces like M&A, and “you have to beat to the sounds of Wall Street” as Cross Keys’ senior advisor and honorary chairman, Bob Barrett, so often is fond of saying.  But most experts agree that despite the political climate, 2017 and 2018 will be great years for M&A.  The confluence of lots of buyers, high multiples and tremendous bank leverage availability will be difficult to hold back this bull … especially in the middle-market.  As Brad Gevurtz, Managing Director of Investment Banking at D.A. Davidson & Co., writes in a Business Insider article, “From a purely financial standpoint, the pump is primed for M&A.” Only time, and Trump’s continuing list of unknowns, make this most probable still have a hint of betrayal from absolute certainty.  

SOURCES:

http://www.nydailynews.com/newswires/news/business/europe-m-surges-u-s-slows-sharply-uncertainty-article-1.3290051

https://www2.deloitte.com/content/dam/Deloitte/uk/Documents/corporate-finance/deloitte-uk-ma-uncertainty.pdf?nc=1

http://www.businessinsider.com/2017-will-be-a-good-year-for-merger-and-acquisition-activity-2017-2


Understanding the Meaning Behind The Cross Keys Capital Logo

From its very foundation, Cross Keys Capital (CKC) puts its clients’ needs first. The company, a leading middle market investment bank with a focus on providing merger and acquisition (M&A) advisory services to privately-held companies, began in 2002 with the aim of filling the middle market M&A niche. To represent its purpose, CKC designed a logo that would embody all that it does, and the square, red and white emblem was created.

The square, commonly referred to as a Meander, is a spiral of interlocking right angles, otherwise known as a Greek key. This design, dating back thousands of years, represents two main ideas: that of unity, and that of the Grecian labyrinth.

CKC embraces both of these concepts. Unity is central to the CKC way of life. Within the office, team members work together so that each individual’s strengths can be utilized to the client’s benefit. We work tirelessly to make sure that our clients are never alone during the M&A process. We get to know you, learning how you built your business and why you want to sell it, so that we can be uniform in our goals. It is of the utmost importance to CKC that we are in lock-step during this complex transaction.

The second idea behind the CKC logo is that of the labyrinth, the Grecian maze that is meant to be impossible to escape. Mergers and acquisitions can be long, sometimes volatile processes, but CKC is there to guide you and your company along. Whatever twists and turns M&A provides to these processes, CKC is there to provide expert strategic advice with senior banker attention and firm-wide effort.

While the image of the Greek keys stands beside Cross Keys, the company’s message is more than an artistic ideal—it’s a goal, and an obtainable one at that. With over 100 successfully completed transactions since 2008 and over $3.5 billion in successfully-closed transaction value, CKC has considerable expertise in a wide variety of different industries and promises to work tirelessly to identify the most probable and most suitable candidates to complete a transaction under the most favorable terms for our sell-side clients.

With unity, persistence, and market leadership, Cross Keys Capital can truly “unlock the value of privately-held businesses”.


November 2016 – Sun Orchard Enhances Retail Presence through Purchase of Blue Lake Citrus Products Assets

MIAMI and WINTER HAVEN, Fla., Nov. 28, 2016 /PRNewswire/ — Sun Orchard, a premier juice and beverage products producer, today announced the acquisition of certain assets of Blue Lake Citrus Products LLC (“Blue Lake”) in Winter Haven, FL. Blue Lake was previously held by the Seminole Tribe of Florida, Inc. and Wm. G. Roe & Sons, Inc.

 

The assets being acquired include the Blue Lake product portfolio, currently being offered under the Noble® juice brand, and certain manufacturing equipment. Blue Lake boasts an impressive retail customer base of some of the largest supermarkets and grocery stores including Publix Super Markets, Ahold, ACME Markets, Giant Eagle Supermarket and Whole Foods Market. The opportunity to forge long-term relationships with this portfolio of retail customers supports Sun Orchard’s plan to further its presence in its retail markets. The acquisition will also enhance Sun Orchard’s current distribution to grocery stores, supermarkets and other third party retailers.

 

Jean-Marc Rotsaert, Executive Chairman of Sun Orchard, said, “We have been impressed with the Blue Lake products and their growth initiatives for quite some time and are delighted to bring products of exceptional taste and quality into our family of juice offerings. The assets being acquired today present Sun Orchard with an exceptional opportunity to notably escalate its growth. In conjunction with our long-term strategy to augment distribution channels, the addition of increased retail presence and our ability to deliver our highest-quality products to more customers are exciting for Sun Orchard. We look forward to continuing our expansion into new markets geographically with a wider range of citrus-based products.”

 

Tena Granit, Executive Director of Finance for Seminole Tribe of Florida, Inc., remarked, “We are pleased to have found a home for Blue Lake’s excellent assets with Sun Orchard, a natural successor to our efforts to provide the retail industry with high quality premium products. We are excited to continue to watch the growth and success of Sun Orchard as these assets continue on their journey of expansion.”

 

Quentin Roe, President of Wm. G. Roe & Sons, Inc. commented, “We are pleased with the growth of Blue Lake’s position in the marketplace. Given this success, it is time for an even larger company with further reach in the business to help the Blue Lake products expand their success. We could not be more excited for our product line and its customers with the commitment that Sun Orchard is making.”

 

Sun Orchard is a Centre Partners portfolio company. Cross Keys Capital represented Blue Lake in this highly strategic and synergistic transaction. Terms of the transaction were not announced.

 

About Sun Orchard

Founded in 1984, Sun Orchard has leveraged its roots in citrus juices (orange, lemon, lime, grapefruit) to develop an expanding portfolio of standard and customized beverages and culinary ingredients. The Company’s product portfolio consists of top quality, 100% natural, not-from-concentrate citrus juices, fruit ades, bar mixes, specialty smoothie bases, and other customizable mixology and culinary solutions. Sun Orchard is headquartered in Miami, FL, and has a strategic bi-coastal production platform with facilities in Arizona and Florida.

 

Learn more at www.SunOrchard.com

 

About the Seminole Tribe of Florida, Inc.

The Seminole Tribe of Florida, Inc., (STOFI) is a federal corporation whose charter’s specific purpose is “to further the economic development of the Seminole Tribe of Florida by conferring certain corporate rights, powers, privileges and immunity; to secure for the members an assured economic independence; and to provide for the proper exercise by the Tribe of various functions heretofore performed by the Department of Interior.” Composed of different brands, STOFI provides its community with the best products produced in the Florida Everglades. The Seminole Tribe of Florida, Inc. prides itself by affiliating with the best quality products from Certified USDA Prime and Choice All Natural Beef to Fresh Fruit Juices, all of which can be found in supermarkets across the country. www.stofinc.com

 

About Wm. G. Roe & Sons, Inc.

Dating back to the 1920’s, Wm. G. Roe & Sons has been a leading participant in Florida’s growing citrus industry. With multiple businesses within the family’s domain, and a legendary reputation, Wm. G. Roe & Sons and its parent company, Noble Produce Holdings, harvests, packs, and markets fresh tangerines, oranges, tangelos, pomelos, blueberries, and more. Based in Winter Haven, Florida, Roe is Florida’s premiere provider of fresh tangerines and tangerine juices, sold coast-to-coast. Extending the leadership position of Noble® fresh tangerines, the Roe family created the Noble® juice brand in 1996, and has enjoyed presiding over its success for the past twenty plus years. This transaction facilitates the Roe family to focus on its rapidly growing long-time core business of fresh tangerines, highlighting its new generation of proprietary seedless tangerine varieties. www.NobleCitrus.com


November 2016 – Cross Keys Capital Completes Sale of Square Waveform Anesthesiology to NorthStar Anesthesia

Fort Lauderdale, Fla., Nov. 16, 2016 (GLOBE NEWSWIRE) — Cross Keys Capital, LLC, a leading independent investment banking firm providing M&A advisory services to healthcare companies, is pleased to announce that it has acted as the exclusive financial advisor to Square Waveform Anesthesiology, P.A. (“SWA”) in its sale to NorthStar Anesthesia, one of the country’s leading anesthesia care companies. The transaction was led by Cross Keys’ Managing Director Bill Britton and Vice President Victor Kalafa.

 

Mr. Britton, co-founder of Cross Keys and leader of the firm’s healthcare practice said, “Uncertainty in the healthcare space continues to drive groups to explore their options and seek out a partner with value-added resources that most smaller, regional groups cannot provide on their own. Valuations remain high and consolidation continues.”

 

“This latest acquisition demonstrates that there is a continued interest from strategic buyers to acquire quality practices to strengthen their position within markets that are the next to consolidate,” added Mr. Britton. “We were pleased to have had the opportunity to work closely with SWA to help close a deal that made strategic sense for both parties.”

 

Square Waveform Anesthesiology provides the anesthesia care services for many rural hospitals in the state of Iowa. It is unique in that it utilizes an all-CRNA model.

 

“As the sole shareholder of a regional anesthesia company, I was relieved to earn the representation of Cross Keys Capital to help me value and sell my business,” said G. Tyler McDonald, President & Founder of SWA. “I was thoroughly supported throughout the process of preparing all the necessary items, selecting a buyer, and completing a transaction.”

 

“I could not have been more pleased with the outcome. The team at Cross Keys demonstrated integrity and honesty, and a genuine effort to protect my interests. I believed they would deliver for me based upon their history and deep healthcare transactional experience, and as soon as we got underway, I observed that they do exactly what they say they will do and then some. I couldn’t imagine another banker who could execute the way Cross Keys did and add the value to my transaction the way they did,” added Tyler.

 

The sale of Square Waveform Anesthesiology, P.A. represents Cross Keys’ fifty-fourth closed transaction on behalf of physician group practices, and the twenty-eighth anesthesiology group they have successfully represented in their sale. In the last year alone, Cross Keys Capital represented the following groups in the sale of their practice: Anesthesia Associates of Cincinnati and Pain Management Associates in their sale to TeamHealth Holdings; Lake County Anesthesia Associates in its sale to TeamHealth Holdings; AllegiantMD, Inc. in its sale to Sheridan Healthcare, the Physician Services Division of AmSurg Corp.; Westchester Anesthesiologists in its sale to a New York affiliate of MEDNAX, Inc.; Jandee Anesthesiology Partners and Karadan Anesthesiology and Pain Management in their sale to Sheridan Healthcare; West End Anesthesia Group, Inc. and Hanover Anesthesia Group, Inc. in their sale to MEDNAX, Inc.

 

About Cross Keys Capital, LLC

Cross Keys Capital, LLC (www.crosskeyscapital.com) is an independent investment bank providing merger and acquisition advisory services to established businesses in the middle market, in areas including healthcare, business services, niche manufacturing, and information technology. Its healthcare practice is a leader in representing anesthesiology practices and other private physician group practices including radiology, ED, pathology, hospitalists, vision and eye care, dermatology, as well as a variety of healthcare service providers and healthcare technology companies. The firm’s extensive experience and track record in advising physician practices are unrivaled by any other middle-market investment banking firm in the nation – Cross Keys has completed the sale or merger of over fifty transactions of independent physician group practices, healthcare providers, services, and technology companies.

 

For more information on Cross Keys Capital’s perspectives on Healthcare M&A and the sale of physician practices contact Bill Britton at (954) 779‐3195.


April 2016 – TricorBraun Acquires The Packaging Design Group

ST. LOUIS, April 12, 2016 /PRNewswire/ — TricorBraun and The Packaging Design Group announce TricorBraun’s acquisition of The Packaging Design Group, a Maryland-based distributor of rigid packaging.

 

PDG was founded in 1995 by Kenneth Gillman and Peter Kallman, who have more than 70 years of combined experience in the field. Prior to forming PDG, Ken and Peter manufactured plastic closure systems, dispensing plugs, fitments, jars and custom-molded parts. As a result, they know the ins and outs of component design, component costing, quality control systems, engineering, and mold design and development.

 

“We’re extremely excited about this opportunity. TricorBraun has an excellent reputation, like us, for being very focused on serving our customers. Being part of a like-minded organization the size of TricorBraun will present opportunities and advantages for our current customers.” said Mr. Kenneth Gillman, Founding Partner of The Packaging Design Group.

 

Mr. Peter Kallman, also a Founding Partner added, “We bring a unique expertise particularly in the nutraceutical, pharmaceutical and healthcare markets that should create opportunities for TricorBraun as well. It’s a great fit all around. Our entire team, Ken and I are excited to be part of the TricorBraun family and look forward to continuing to provide the high level of service to our customers with significant additional resources.”

 

The Packaging Design Group will continue to operate under its current name and will become a division of TricorBraun with immediate access to all of the resources and the options that TricorBraun provides.

 

“The Packaging Design Group is a perfect fit for what we’re trying to accomplish,” said Keith J. Strope, President and Chief Executive Officer of TricorBraun. “Integrity and talent have always been the cornerstone of our growth. The folks at The Packaging Design Group have plenty of both. Their extensive knowledge and experience along with their customer service focus are what make them so attractive. The wholly-owned UK subsidiary, Packaging Design Limited, is also part of the deal and strengthens our presence in Europe. This addition to the family will definitely allow all of us to do more for all of our customers.”

 

TricorBraun is a portfolio company of CHS Capital, a Chicago-based private equity firm. Founded in 1902 and headquartered in St. Louis, Missouri, TricorBraun is the largest distributor of rigid packaging solutions in North America, with over 40 locations globally and annual revenues of $1-billion. TricorBraun provides a complete array of rigid packaging containers and related components as well as comprehensive package design, engineering and technical services, domestic and global sourcing and logistics management. TricorBraun’s customers are in almost every market imaginable–personal care, healthcare, household and industrial chemicals, food, wine and more.


June 2016 – Westchester Anesthesiologists, PC Has Been Acquired by MEDNAX, Inc.

Cross Keys Capital Represents Westchester Anesthesiologists In Its Sale to MEDNAX

June 2016, Fort Lauderdale, Florida – Cross Keys Capital, LLC (“Cross Keys Capital”), a leading independent investment banking firm providing M&A advisory services to healthcare companies, is pleased to announce that it has acted as the exclusive financial advisor to Westchester Anesthesiologists, PC in its sale to a New York affiliate of MEDNAX, Inc. (NYSE: MD) a physician services company based in Sunrise, Florida. Cross Keys served as the exclusive financial advisor to the partners of Westchester Anesthesiologists, a private physician group practice based in White Plains, NY.
 
“Our practice went through an exhaustive process with many twists and turns over the past two and a half years trying to find the right partner for our anesthesia group.” said Mitchell Reuben, M.D., who will serve as medical director for the practice. “We initially chose Cross Keys to help guide us because of their proven record in this area. We could not have been happier as they were by our side the entire way. Bill and Marjorie not only have a deep understanding of the business of anesthesia but are very familiar with the leadership of the major buyers in this space. They and their team were hard working, always available, proactive in their approach and in the end got us the result we were looking for.”
 
About Westchester Anesthesiologists, PC
 
Westchester Anesthesiologists provides anesthesia care across a wide spectrum of subspecialty areas in Westchester County. The practice employs 31 full-time clinicians (27 anesthesiologists and 4 anesthetists) that provide services to White Plains Hospital, a 292-bed health care organization. The practice also provides services to Rye Ambulatory Surgery Center, Surgical Specialty Center of Westchester and WESTMED Medical Group. Westchester Anesthesiologists’ inpatient and outpatient anesthesia services include general, cardiac, endoscopies, obstetrics and cosmetics.
 
About MEDNAX, Inc.
 
MEDNAX, Inc. is a national health solutions partner comprised of the nation’s leading providers of physician services. Physicians and advanced practitioners practicing as part of MEDNAX are reshaping the delivery of care within their specialties and subspecialties, using evidence-based tools, continuous quality initiatives, clinical research and telemedicine to enhance patient outcomes and provide high-quality, cost-effective care. The Company was founded in 1979, and today, through its affiliated professional corporations, MEDNAX provides services through a network of more than 3,300 physicians in all 50 states and Puerto Rico. In addition to its national physician network, MEDNAX provides services to healthcare facilities and physicians in over 40 states through two complementary businesses, consisting of a revenue cycle management company and a consulting services company.
 
About Cross Keys Capital
 
Cross Keys Capital is a South Florida based investment banking firm that is dedicated to providing services to privately-held middle market companies and entrepreneurs. The firm has closed over 70 transactions since 2010 in a variety of industries including health care services, business services, tech-enabled outsourcing and niche manufacturing.
 
The firm’s primary focus is sell-side M&A of privately-held companies.  Cross Keys remains true to its belief that small and mid-sized companies are underserved from a full-service investment banking perspective, and as such our team remains wholly focused on providing esteemed, best-of-class advisory services, regardless of the size of the transaction. The healthcare transactions team led by Bill Britton is a leader in the field representing anesthesiology practices and other private physician group practices including radiology, ED, pathology, hospitalists, vision and eye care, dermatology, as well as a variety of healthcare providers, technology and service companies. For more information on Cross Keys Capital, please visit our website at www.crosskeyscapital.com  or call Rick Becker, Bill Britton or David Burns at (954)779-2600.


May 2016 – Jandee Anesthesiology Partners and Karadan Anesthesiology and Pain Management Have Been Acquired By Sheridan Healthcare, A Physician Services Division Of AmSurg

Jandee Anesthesiology Partners and Karadan Anesthesiology and Pain Management Have Been Acquired By Sheridan Healthcare, A Physician Services Division Of AmSurg
Cross Keys Capital Advises on Sale of Jandee Anesthesiology Partners and Karadan Anesthesiology and Pain Management to Sheridan Healthcare
 
May 2016, Fort Lauderdale, FL – Cross Keys Capital, LLC (“Cross Keys Capital”) is pleased to announce the acquisition of Jandee Anesthesiology Partners, PLLC (“Jandee”) and Karadan Anesthesiology and Pain Management, LLP (“Karadan”) by Sheridan Healthcare, Inc. (“Sheridan”), the Physician Services Division of AmSurg Corp. (NASDAQ: AMSG) which further strengthens Sheridan’s presence in the New Jersey marketplace.  Cross Keys Capital acted as the exclusive financial advisor to the partners of Jandee and Karadan, two private physician group practices.-
 
About Jandee Anesthesiology Partners and Karadan Anesthesiology and Pain Management
 
Jandee was established in 2004 and the two group practices jointly deliver anesthesia services through a network of nine ambulatory surgery centers and other facilities in New Jersey and New York.
 
About AmSurg and Sheridan
 
AmSurg’s Ambulatory Services Division acquires, develops and operates ambulatory surgery centers in partnership with physicians throughout the U.S. AmSurg’s Physician Services Division, Sheridan, provides outsourced physician services in multiple specialties to hospitals, ASCs and other healthcare facilities throughout the U.S., primarily in the areas of anesthesiology, radiology, children’s services and emergency medicine.
 
About Cross Keys Capital
 
Cross Keys Capital is a South Florida based investment banking firm that is dedicated to providing services to privately-held middle market companies and entrepreneurs. The firm has closed over 70 transactions since 2010 in a variety of industries including health care services, business services, tech-enabled outsourcing and niche manufacturing.
 
The firm’s primary focus is sell-side M&A of privately-held companies.  Cross Keys remains true to its belief that small and mid-sized companies are underserved from a full-service investment banking perspective, and as such our team remains wholly focused on providing esteemed, best-of-class advisory services, regardless of the size of the transaction. The healthcare transactions team led by Bill Britton is a leader in the field representing anesthesiology practices and other private physician group practices including radiology, ED, pathology, hospitalists, vision and eye care, dermatology, as well as a variety of healthcare providers, technology and service companies. For more information on Cross Keys Capital, please visit our website at www.crosskeyscapital.com  or call Rick Becker, Bill Britton or David Burns at (954)779-2600.


May 2016 – Cross Keys Capital Closes 6 Deals

Cross Keys Capital represents Target Engineering Group, Inc. and Private Label Skin, Inc. in their recapitalization transactions with private equity sponsors:
 
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About the Target Engineering Group, Inc. Transaction:  
 
Target Engineering Group, Inc. (“TEG”) is a leading provider of construction management, professional engineering and construction inspection services in Florida. The Company focuses on providing engineering and inspection services related to bridges and roadwork, partnering predominantly with the Florida Department of Transportation on both statewide and district-specific projects.  Headquartered in Coral Gables, TEG has a statewide presence with over 140 employees across eight offices as well as several temporary offices for large projects.
 
The Principals at TEG engaged Cross Keys to find a value-added partner that could both help them continue to strengthen their service offering in Florida and expand to new markets.  Raj Rangaswamy, P.E., President of TEG commented: “The team at Cross Keys Capital was thorough and efficient – they presented numerous options that enabled us to find the right partner-fit that will allow Target Engineering to progress to the next tier of growth.” While discussing the prospects for the transaction, Scott Gwilliam, Managing Director at Keystone Capital, Inc. added: “We are thrilled to be partnering with the exceptional management team at Target Engineering Group to build on their tradition of excellence in serving the Florida transportation engineering market.”  Cross Keys’ team was led by Rick Becker out of the Firm’s Ft. Lauderdale offices.
 
About the Private Label Skin, Inc. Transaction:  
 
Private Label Skin, Inc. (“PLS”) is a private label manufacturer of skin, hair and nail care products for large online retailers.  The Company has experienced rapid growth by providing turnkey solutions to its customers, including: R&D and early stage manufacturing consulting, packaging and design selection, inventory and order management and finished product fulfillment.  The Company is headquartered in St. Petersburg, Florida and its customers rank among the world’s top direct marketing companies, online retailers and wholesalers.
 
The Shareholders at PLS specialize in catering to a highly dynamic and trend-driven marketplace, and hired Cross Keys to find a partner that could provide capital and strategic guidance as the business continues on its exciting growth trajectory.  In reflecting on his team’s motivation to transact, Adam Oliver, Shareholder of PLS, commented: “We began the M&A process with the goal of finding an additive partner, but we remained open to a variety of transaction structures so that we could determine the best overall partnership alignment. The team at Cross Keys was instrumental in providing high-quality introductions and sound advice that gave us confidence in our selection of Taglich Private Equity.”  The Cross Keys team was led by Rick Becker, who has a twenty year relationship with the Principals of Taglich, and Nick Mireles; both are fully confident in the firm’s ability to augment growth at PLS via increased service offerings and expansion to new geographies.
 
About Cross Keys Capital:
 
Cross Keys Capital is a South Florida based investment banking firm that is dedicated to providing services to privately-held middle market companies and entrepreneurs. The firm has closed 73 transactions since 2010 in a variety of industries including health care services, business services, tech-enabled outsourcing and niche manufacturing.
 
The firm’s primary focus is sell-side M&A of privately-held companies.  Cross Keys remains true to its belief that small niche market leaders earning $2.0 to $15.0MM of EBITDA are underserved from a full-service investment banking perspective, and as such our team remains wholly focused on providing esteemed, best-of-class advisory services, regardless of the size of the transaction.  For more information on Cross Keys Capital, please visit our website at www.crosskeyscapital.com or call Rick Becker, Bill Britton or David Burns, at (954) 779-2600.


March 2016 – Superior Uniform Group, Inc. Acquires BAMKO, Inc.

bamko
Fort Lauderdale, FL – Cross Keys Capital, LLC (“Cross Keys”) is pleased to announce the acquisition of BAMKO, Inc. (“BAMKO”), a leading merchandise sourcing and promotional products company by Superior Uniform Group, Inc. (“Superior”), a manufacturer of uniforms, career apparel and accessories. Cross Keys initiated the transaction, assisted in negotiations, and acted as the exclusive financial advisor to Superior. The purchase price for the transaction, which closed in March, was approximately $27 million including the assumption of certain liabilities of BAMKO.
 
“BAMKO brings Superior Uniform Group an outstanding sales, marketing and customer-centric team of people. BAMKO’s elite customer base and product offerings will further enhance our overall position in the retail, health care, food service, transportation and other markets that we serve,” says Michael Benstock, CEO of Superior Uniform Group. “Cross Keys Capital continues to act as our trusted advisor assisting us in identifying quality businesses and facilitating collaborative processes to align the interests of all parties.”
 
“Working with Superior is exciting – they are an innovator in the image apparel space with a great track record and the right platform in place. Their interest in bringing BAMKO into the family was not only a strategic growth consideration, but also an organizational and cultural consideration. This is top of mind as we explore partnership opportunities for our clients,” said Bill Britton, Co-Founder and Managing Director of Cross Keys Capital.
 
About BAMKO, Inc.:
 
BAMKO is a full-service merchandise sourcing and promotional products company based in Los Angeles, CA. With sales offices in the United States, England and Brazil, as well as support offices in China and India, BAMKO is a 24/7 operation with a global reach.  Currently serving hundreds of the world’s most successful brands, BAMKO works with its clients to provide a wide range of supply chain solutions, including world-class design, sourcing, production, product development, quality control, testing, logistics, and delivery of goods for clients across the globe. BAMKO will operate as a subsidiary of Superior Uniform Group, and the principals will remain with the business.
 
About Superior Uniform Group, Inc.:
 
Superior Uniform Group® (NASDAQ:SGC), established in 1920, is one of America’s foremost providers of fine uniforms and image apparel.  Headquartered in Seminole, Fla., Superior Uniform Group manages award-winning uniform apparel programs for major corporations nationwide.  Leaders in innovative uniform program design, global manufacturing, and state-of-the-art distribution, Superior Uniform Group helps companies achieve a more professional appearance and better communicate their brands – particularly those in healthcare, private security, retail, hospitality, transportation and food service industries.
 
The company’s commitment to service, technology, quality and value-added benefits, as well as its financial strength and resources, support customers’ diverse needs while embracing a “Customer 1st, Every Time!” philosophy and culture.  Superior Uniform Group primarily sells its products through its signature brands Superior I.D.™, Fashion Seal Healthcare® and HPI Direct®.  Superior Uniform Group is also the parent company for The Office Gurus®, its BPO and Contact Center vertical.
 
About Cross Keys Capital, LLC:
 
Cross Keys Capital is an investment banking firm that is dedicated to providing merger and acquisition advisory services to privately and publicly held middle market companies and entrepreneurs. The firm has closed over 7o transactions since 2010 in a variety of industries including health care services, business services and niche manufacturing.


January 2016 – West End Anesthesia Group, Inc. Acquired by MEDNAX, Inc.

West End Anesthesia Group
January 2016, Fort Lauderdale, Florida – Cross Keys Capital, LLC (“Cross Keys”), a leading independent investment banking firm providing M&A advisory services to healthcare companies, is pleased to announce that it has acted as the exclusive financial advisor to West End Anesthesia Group, Inc. and its related entity, Hanover Anesthesia Group, Inc. (collectively, “West End”), in their sale to American Anesthesiology, a subsidiary of MEDNAX, Inc. (NYSE:MD), a physician services company based in Sunrise, Florida. Cross Keys served as the exclusive financial advisor to the partners of West End, a physician group practice primarily based in Richmond, Virginia.
 
To date, Cross Keys has been engaged on over 25 anesthesiology transactions nationwide with a team of 12 investment professionals supporting this effort.  “We are fortunate to have a very seasoned and diversified healthcare transaction team.  Without them, our execution platform would not be able to perform at such a high level,” said Bill Britton, Co-Founder and Managing Director at Cross Keys.
“Our transaction took a while and became a journey on its own accord. Cross Keys was with us the entire time. They were knowledgeable about anesthesia consolidation, familiar with the key players in the industry and were highly attuned to what we needed to do to accomplish this with our future partner, the hospital and within our partnership. It is difficult to imagine that we would have been successful without their help.  Clearly they have the experience and resources to insure a favorable outcome,” said Joshua Weiss, M.D., Managing Member of West End Anesthesia Group.
 
About West End Anesthesia Group, Inc.
 
West End was established in 1969 and employs 94 full-time clinicians providing exclusive anesthesia services to St. Mary’s Hospital, a 391-bed community hospital, and Memorial Regional Medical Center, a 234-bed community hospital. Both are part of the Bon Secours Virginia Health System.
 
About MEDNAX, Inc.
 
MEDNAX is a national medical group comprised of the nation’s leading providers of neonatal, anesthesia, teleradiology, maternal-fetal and pediatric physician subspecialty services. American Anesthesiology, a division of MEDNAX, was established in 2007 and includes more than 2,475 anesthesiologists and advanced practitioners. MEDNAX, through its affiliated professional corporations, employs approximately 2,700 physicians in 35 states and Puerto Rico.
About Cross Keys Capital, LLC
 
Cross Keys Capital is an investment banking firm dedicated to providing superior financial and strategic advisory services to healthcare providers and physician group practices. Our extensive healthcare investment banking experience helps us understand each client’s business and create customized solutions that exceed their goals and objectives.  With a nationwide presence, our Principals are industry veterans who have worked at leading investment banks such as Goldman Sachs and Morgan Stanley.  Cross Keys has a strong understanding of the economics and operations of anesthesiology groups, with experience advising on the sale of hospital, ASC and office-based practices.  With a seasoned team of investment bankers and experienced anesthesiology leadership, Cross Keys understands the dynamics of the anesthesiology marketplace.

  • Strong working relationships with all of the national anesthesiology practice management companies and private equity groups interested in well-run anesthesiology practices.
  • Understand the rapidly changing marketplace and the nuances that create value for physicians.
  • Acutely attuned to helping our clients find the “right partner”, and understand that cultural and operational “fit” is equally important as the purchase price.
  • Maximize deal value and help negotiate favorable employment contracts to meet each shareholder’s personal circumstances.
  • Ensure utmost confidentiality and protect our clients’ interests at all times.

December 2015 – Cross Keys Capital Celebrates Another Stellar Year

Fort Lauderdale, FL – December 15, 2015 – As Rick Becker, Bill Britton and David Burns enter our tenth year as partners at Cross Keys Capital, we wish to thank each and every client, prospect, advisor, and friend that we have worked with throughout this last decade.  In particular, 2015 saw our sixth straight phenomenal year with 12 completed sell-side M&A transactions enabling the firm to set a record year in terms of revenue.

We would especially like to extend our gratitude to all of the referral sources who are the lifeline of our existence, and give recognition to our private equity relationships that have been instrumental in helping the firm close 67 transactions since 2010.

Cross Keys Capital is looking forward to continued success as we enter 2016 with seven deals currently under Letter of Intent.  Furthermore, we are excited to watch our staff mature and grow, with the recent additions of Michael Ramos, Kyle Weisenberg and Dalton Hicks.

While healthcare services and physician practice management remain a core vertical, the firm is actively seeking opportunities to leverage its experience in tech-enabled outsourced processing, business services, logistics, industrials and niche manufacturing.

We remain true to our belief that small niche leaders earning $2.0 to $15.0MM of EBITDA are underserved in the general M&A marketplace from a full-service investment banking perspective, and as such we remain wholly focused on “unlocking the value of privately-held businesses” in and out of the state of Florida.

Please check out our new web-site at: www.crosskeyscapital.com

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About Cross Keys Capital

Cross Keys Capital is a South Florida based investment banking firm that is dedicated to providing services to privately-held middle market companies and entrepreneurs. The firm has closed 67 transactions since 2010 in a variety of industries including health care services, business services and niche manufacturing.  The firm’s primary focus is sell-side M&A of privately-held companies.  For more information on Cross Keys Capital, please follow this link to our newly designed website at www.crosskeyscapital.com or call Rick Becker, Bill Britton or David Burns, at (954) 779-2600.


July 2015 – Calling All Ships Has Been Acquired by Strait Lane Capital Partners

strait lane capital
July 31, 2015, Miami Springs, Florida Cross Keys Capital is pleased to announce the sale of its client, Calling All Ships, LLC (Calling All Ships), a portfolio company of Gen Cap America, Inc., a private equity firm based in Nashville, TN. Calling All Ships was acquired by Strait Lane Capital Partners, LLC (Strait Lane), a private family office based in Dallas, TX. Calling All Ships is the leading distributor of health & beauty aids, candy and various sundry products to the cruise ship and hospitality industries. Calling All Ships provides product to the gift shops and crew shops of all major ocean cruise lines worldwide. Chief Executive Officer Carolyn Delgado will continue in the same capacity post-transaction and she will retain a minority ownership position in the operation.

Carolyn Delgado, Calling All Ships CEO, shared her appreciation for Cross Keys Capital’s hard work by stating, Cross Keys Capital was able to find the perfect partner to appease the interests of myself, the Company and Gen Cap America. My goal throughout this process was to ensure that Calling All Ships and I were continuing our growth trajectory with a new partner that was the right strategic fit.Having been part of a similar M&A process previously, I knew going in that balancing the interests of everyone involved was going to be a difficult task. However, working with Rick Becker and his team was wonderful.  It turned what could have been a difficult task into one that fairly effortless and easy.  All stakeholders are pleased to be welcoming Strait Lane Capital into the Calling All Ships Family.

About Calling All Ships, LLC

Established in 1986, Calling All Ships is a distributor of health and beauty aids, candy and sundry products to the cruise line industry and other hospitality industries. The company is based in Miami, Florida. For more information about Calling All Ships, please visit http://www.callingallships.net.

About Gen Cap America, Inc.

Founded in 1985, Gen Cap America Inc. is a Nashville, TN private equity firm that provides equity for management buyouts, division spinoffs and recapitalizations of middle-market businesses. They are currently investing out of their sixth fund.  For more information about Gen Cap America, please go to their website at http://www.gencapamerica.com.

About Strait Lane Capital Partners, LLC

Strait Lane Capital Partners, LLC (SLCP), based in Dallas, Texas, is a privately held investment firm focused on middle-market businesses. SLCP brings strategic insights and expertise including effective governance, operational excellence, vertical market depth, and extensive private and public client relationships.  For more information about SLCP and their criteria, please go to their website at http://www.straitlanecapital.com.

About Cross Keys Capital

Cross Keys Capital is a South Florida based investment banking firm that is dedicated to providing services to privately-held middle market companies and entrepreneurs.  Founded in 2002, the firm has closed 66 transactions since 2010 in a variety of industries including health care services, business services and niche manufacturing.  The firm’s primary focus is sell-side M&A of privately-held companies. For more information on Cross Keys Capital, please follow this link to our newly designed website at www.crosskeyscapital.com or call Rick Becker, Managing Director, at (954) 779-2600.


July 2015 – EnviroTek Has Been Acquired by Action Resources, a Portfolio Company of Joshua Partners

envirotek
July 2015, Tampa, Florida Cross Keys Capital is pleased to announce that its client, TankTek Inc. d/b/a EnviroTek (EnviroTek), an environmental construction and remediation company based out of Tampa, FL, was acquired by Action Resources, Inc. (Action), a portfolio company of Joshua Partners, LLC.
 
EnviroTek is one of the leading privately-held environmental services companies in the Southeast United States, whose customer base includes large corporations as well as both local and state governments. The founder of EnviroTek, Jack Keiser, helped grow the business for over 23 years and decided that it was time to sell to a group that can help bring EnviroTek to the next echelon. Jack desired to have more time to focus on his personal real estate projects and engaged Cross Keys Capital to help advise him throughout the sale of his business. After evaluating multiple offers, he believed that Action was the right group to help accomplish this goal.
 
Jack Keiser, who also served as EnviroTek’s Chief Executive Officer, expressed his gratitude and appreciation for the time and effort that CrossKeys Capital put in to completing this transaction. Jack expressed his appreciation by stating, Cross Keys Capital was instrumental in getting this deal closed. From the onset, I had expressed to Rick [Richard Becker, Managing Director at Cross Keys Capital] that I wanted to get a deal done quickly. As promised, their team found an awesome group and helped to complete diligence and close within six weeks. Cross Keys guided me throughout the M&A process and was conducive in getting this deal across the finish line.I know the future of EnviroTek is in good hands with the Action team.
 
About EnviroTek
 
Founded in 1992, TankTek, Inc. d/b/a EnviroTek, is a Tampa, FL based environmental construction and remediation Company that focuses on the Southeast United States but has nationwide capabilities. Their primary services include MGP remediation, tank removal, in-situ stabilization, water treatment, drilling and waste management. EnviroTek employs about 30 full-time employees and are led by a six person management team that bring, on average, 15 years of environmental services experience. For more information on EnviroTek, please visit http://www.envirotek.com/.
 
About Action Resources
 
Action Resources, Inc., a portfolio company of Joshua Partners, LLC, provides transportation services of specialty chemicals and hazardous waste throughout the United States and Canada. The Company was founded in 1995 and has grown tremendously both organically and through acquisitions. They operate through nine locations throughout Alabama, Georgia, Oklahoma, North Carolina, Louisiana and Texas. Through their affiliated companies, Action is able to provide additional services including: oversized/heavy hauling, environmental and in-plant services and third party logistics services. For more information on Action, please visit http://www.action-resources.com/.
 
About Cross Keys Capital
 
Cross Keys Capital is a South Florida based investment banking firm that is dedicated to providing services to privately-held middle market companies and entrepreneurs.  Founded in 2002, the firm has closed 66 transactions since 2010 in a variety of industries including health care services, business services and niche manufacturing.  The firm’s primary focus is sell-side M&A of privately-held companies. For more information on Cross Keys Capital, please follow this link to our newly designed website at www.crosskeyscapital.com or call Rick Becker, Managing Director, at (954) 779-2600.


June 2015 – HammerTek Corporation Has Been Acquired By Flexicon Corporation

hammertek
June 2015, Chicago, Illinois– Cross Keys Capital Midwest is pleased to announce that Flexicon Corporation (“Flexicon”) has acquired HammerTek Corporation (“HammerTek”), a Pennsylvania-based designer, developer, manufacturer and distributor of mechanical elbow products.
 
Cross Keys Capital Midwest acted as the exclusive financial advisor to HammerTek.  “Roger Schoenfeld was very creative and diligent in finding a suitor for our business, ultimately selling our business to a very good strategic buyer who understood our business.” stated Larry Hess, President and Founder of HammerTek. “He worked with us to develop a sale strategy, present our business professionally to the market, and to find a suitor; and he provided critical advisory services up to the closing of the transaction.”
 
About HammerTek Corporation
 
The Company designs, develops, manufactures and sells mechanical elbow products used in pneumatic conveying systems of dry bulk materials.The products are very unique and provide benefits not available from competing products. The product line is extensive and is used by companies in many industries, including chemical, food, steel, cement, power, oil & gas and building products. The Company’s products reduce system downtime and maintenance and improve processing efficiencies. HammerTek Corporation is located in Lancaster, Pennsylvania. For more information on HammerTek, please visit http://www.hammertek.com/.
 
About Flexicon Corporation 
 
Flexicon Corporation is a world leader in the design and manufacture of bulk handling equipment and custom-engineered and integrated plant-widesystems that transport, discharge, fill, weigh, blend, deliver and/or feed a broad range of powder and bulk solid materials. Flexicon products range from individual equipment to automated systems that source bulk material from interior and exterior plant locations,transport it between process equipment and storage vessels, weigh it, blend it, feed it to packaging lines, extruders, molding machines and storage vessels, and load it into railcars and trailers. Flexicon’s world headquarters are located in Bethlehem, Pennsylvania.For more information on Flexicon, please visit https://www.flexicon.com/.
 
About Cross Keys Capital
 
Cross Keys Capital is a South Florida based investment banking firm with an office in Chicago, IL that is dedicated to providing M&A advisory services to privately-held middle market companies and entrepreneurs.  Founded in 2002, the firm has closed 65 transactions since 2010 in a variety of industries including health care services, business services and niche manufacturing.  The firm’s primary focus is sell-side M&A of privately-held companies.  For more information on Cross Keys Capital, please follow this link to our newly designed website at www.crosskeyscapital.com or call Roger Schoenfeld, Managing Director in the Chicago office, at (847) 945-2166.


December 2014 – Client First Settlement Funding, LLC Received a Significant Equity Investment From Century Capital Partners

century
December 2014, Boca Raton, Florida – Cross Keys Capital is pleased to announce that its client, Client First Settlement Funding, LLC (“Client First”), a structured settlement purchasing company based in Boca Raton, FL, recently received a significant equity investment from Century Capital Partners (“Century Capital”).  Client First is one of the leading companies worldwide purchasing court ordered specialty finance receivables as well as providing lump sum cash payments for future periodic payments.  Century Capital and its industry-seasoned operating partners teamed with Burt Kroner, Client First’s Chief Executive Officer, to acquire a significant equity stake in the business on December 30, 2014.  Mr. Kroner will retain majority control of the Company and continue in his capacity as CEO.  Both parties aim to bolster the Company’s rapid growth trajectory and improve its already successful process oriented approach to this niche industry.

Burt Kroner, Client First’s CEO, shared his appreciation for Cross Keys Capital’s hard work by stating, “Cross Keys Capital was integral in finding the perfect partner for myself and the Company.  My metric for success from the beginning was a value-added partner that possessed significant operating experience in specialty finance and securitization and was able to contribute not only capital but who also shared in my vision for Client First’s continued growth.  Cross Keys Capital not only helped to ensure a year-end close, which was very important to me, but also provided the technical understanding of the M&A sale process to assure a timely and efficient process.”

Century Capital’s Managing Director David Sherwood had additional praise for Cross Keys Capital stating that, “We greatly appreciated the efforts of the entire Cross Keys Capital team throughout the negotiation and due diligence of this transaction.  Cross Keys Capital was instrumental in facilitating open communication and a sense of transparency which was key to getting the transaction closed on a tight time frame.  Their team worked tirelessly over two holidays to help us get all the information we needed to effectively underwrite the investment.”

About Client First Settlement Funding, LLC
Client First, founded in 2008, is one of the largest companies worldwide purchasing court ordered specialty finance receivables, providing lump sum cash payments in exchange for future periodic payments. The Company employs over 125 people and bases its national operations in Boca Raton, FL.  Client First boasts an exceptionally strong management team led by CEO Burt Kroner, who has over 20 years of experience in the structured settlement business and who personally directs the Company’s client facing efforts.  The business purchases payment streams derived from guaranteed structured settlements, life contingent settlements and lottery winnings. For more information on Client First, please visit http://clientfirstfunding.com/

About Century Capital Partners
Century Capital provides buyout capital and growth equity to lower middle market financial services, insurance and healthcare services companies. The firm pursues both control and minority investments in rapidly growing, profitable businesses led by management teams that are leaders in their respective industries.  Collectively, the Century Capital team has over 140 years of investing and operating experience in financial services. The team’s experience and extensive network of industry contacts enables it to provide significant business development assistance to its portfolio companies.  For more information on Century Capital, please visit http://www.centurycap.com

About Cross Keys Capital
Cross Keys Capital is a South Florida based investment banking firm that is dedicated to providing services to privately-held middle market companies and entrepreneurs.  Founded in 2002, the firm has closed 55 transactions since 2010 alone in a variety of industries including health care services, business services and niche manufacturing.  The firm’s primary focus is sell-side M&A of privately-held companies.  For more information on Cross Keys Capital, please follow this link to our newly designed website at www.crosskeyscapital.com or call Rick Becker, Managing Director, at (954) 779-2600.


May 2014 – Cross River Anesthesiologist Services Acquired by MEDNAX

cross-riverMay 2014, Kingston, NY – Cross Keys Capital, LLC is pleased to announce the acquisition of Cross River Anesthesiologist Services, P.C. (“CRAS”) by MEDNAX, Inc. (NYSE: MD).  Cross Keys Capital served as the exclusive financial advisor to CRAS, a private physician group practice based in Kingston, New York. Cross River Anesthesiologist Services will become part of MEDNAX’s American Anesthesiology division and is the third New York-based anesthesiology practice to join this division.

“We could not have marketed and sold our anesthesiology group without the hard work of the team at Cross Keys Capital. We put our trust in them and they delivered.  The Cross Keys team had the experience and know how to find a partner that was the right fit for our group and most importantly, get the deal done.  As principle partners of our group we worked extremely close with the folks at Cross Keys. There is no way we could have done all the work needed to find and complete a deal and still work as full time physicians.  Cross Keys was there for us no matter the day or time; and believe me, a lot of the work with Cross Keys occurred after we were done in the OR.  They were with us every step of the way.  We cannot imagine how a group of physicians could do a deal like this without the team from Cross Keys by their side.  We couldn’t have done this deal without them. Period.”, said Michael Moses M.D., President of CRAS and Martin Cascio, M.D., Vice President of CRAS.

About Cross River Anesthesiologist Services, P.C.
Cross River Anesthesiologist Services was established in 1992 and employs 22 full-time anesthesia providers (14 anesthesiologists and 8 anesthetists) who provide services across a wide spectrum of subspecialty areas at Northern Dutchess Hospital, HealthAlliance of the Hudson Valley including its Broadway, Mary’s Avenue and Margaretville hospitals, as well as Kingston Ambulatory Surgical Center and five office-based locations throughout Hudson Valley. The practice’s anesthesia services include general surgery, orthopedic, obstetric, gynecological, vascular and ear, nose and throat (ENT).  “We look forward to joining a national medical group of more than 2,000 anesthesia providers, many of whom are leaders in clinical research, education and quality initiatives,” said Michael Moses, M.D., who will serve as medical director for the practice. “It’s comforting to know that with American Anesthesiology we can continue to focus on patient satisfaction and outcomes as we have for more than 20 years, even as healthcare reform makes office processes like billing, credentialing and compliance more complex in the coming years.”

About MEDNAX, Inc.
MEDNAX, Inc. is a national medical group that comprises the nation’s leading provider of neonatal, anesthesia, maternal-fetal and pediatric physician subspecialty services as well as anesthesia services. Pediatrix Medical Group, a unit of MEDNAX, was founded in 1979 and now includes neonatal physicians who provide services at more than 350 neonatal intensive care units, who collaborate with affiliated maternal-fetal medicine, pediatric cardiology and pediatric critical care physician subspecialists to provide a clinical care continuum. Pediatrix is also the nation’s largest provider of newborn hearing screens. American Anesthesiology, a division of MEDNAX, was established in 2007 and includes more than 2,150 anesthesiologists and advanced practitioners who provide anesthesia care to patients in connection with surgical and other procedures as well as pain management. MEDNAX, through its affiliated professional corporations, employs approximately 2,500 physicians in 34 states and Puerto Rico.


September 2013 – ECU Line today announced the acquisition of 100% interest in Econocaribe Consolidators, a US based logistics company.

econocaribe
Econocaribe, incorporated in 1968, is today the 3rd largest LCL consolidator (NVOCC) in the US. With its headquarters in Miami, Florida, Econocaribe has 9 offices in the US and 22 receiving terminals throughout the US and Canada, as well as partners across the world. Econocaribe specializes in freight consolidation and FCL services to Latin America, the Caribbean, Europe, the Mediterranean, the Middle East, Africa and Asia. They also offer import LCL/FCL transportation services from around the world into the United States and Puerto Rico.

ECU Line has, in recent years, been working in the USA, engaging Econocaribe as its agent. This acquisition now enables ECU Line to complete its service offerings, both in terms of global capabilities and coverage. The acquisition also increases ECU’s foot hold in the US market — which, as we all know, is the #1 economy in the world.

Speaking about the acquisition, Mr. Shashi Kiran Shetty, Executive Chairman Avvashya Group, said, “Econocaribe has been our partner in the US and we have worked very closely with them. They have an extremely efficient and capable management team that has taken the company to being amongst the top NVOCCs in the US. I am very happy that now they are a part of our family and we have now become truly a global MNC, which is a dream achieved”.

Mr. John Abisch, President, Econocaribe Consolidators, said, “Myself and the Econocaribe family look forward to joining the ECU team. Econocaribe has had the pleasure to be the USA agent for ECU for a number of years and I am confident our philosophies are aligned which should make for a smooth transition. I expect both organizations will benefit from joining forces and allow us to provide a great environment for our employees and great service to our clients”

About ECU Line

ECU-LINE is a global NVOCC with headquarter in Antwerp, Belgium and is part of The AVVASHYA Group headquartered in India. With 190 offices in over 90 countries and more than 3000 employees, the company is one of the market leaders in its industry segment.

About Cross Keys Capital

Cross Keys Capital is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.

For more information, please contact Rick Becker, Managing Director, Cross Keys Capital at 954-779-3135 or rbecker@ckcap.com


May 2013 – Resolute Anesthesia and Pain Solutions, LLC was formed by Merger of Broad Anesthesia Associates, LLC and Mid-Florida Anesthesia Associates, Inc.

Boca Raton, Florida – Cross Keys Capital is pleased to announce that South Florida-based Resolute Anesthesia and Pain Solutions, LLC (“Resolute”) has been formed by merger of Broad Anesthesia Associates, LLC and Mid-Florida Anesthesia Associates, Inc. The recapitalization was sponsored by the Private Capital Investing Group of Goldman Sachs & Co. (NYSE:GS). Cross Keys Capital acted as the exclusive financial advisor to the partners of Broad Anesthesia Associates, LLC and Mid-Florida Anesthesia Associates, Inc.

“The practice of medicine requires increasing investments in information technology, operations and compliance,” said Dr. Harvey Plosker, a founding partner of Broad Anesthesia Associates, LLC. “Our view is that of all the strategic alternatives we looked at, our partnership with Goldman Sachs provides us with the broadest array of capabilities, including the management expertise and capital that will allow us and our partners to focus on practicing medicine and at the same time realize our long-term strategic goals.”

“We pride ourselves at being ‘ahead of the curve’ with respect to patient management, compliance and the overall patient experience,” said Dr. Marc Levine, a founding partner of Mid-Florida Anesthesia Associates. “We believe this emphasis is a key differentiator for us and the reason we have been so successful. We learned that Goldman Sachs shares this vision, and that our partnership provides Resolute Anesthesia and Pain Solutions with the foundation to deliver anesthesia and pain management services on a national basis with like-minded doctors who believe the patient comes first.”

About Resolute Anesthesia and Pain Solutions, LLC

Headquartered in Boca Raton, Florida, Resolute provides anesthesia and pain management solutions to its patients. The company was recently formed by a group of physician partners in a recapitalization led by Goldman, Sachs & Co. Resolute provides state-of-the-art revenue cycle management, compliance, and administrative support capabilities and seeks to partner with leading anesthesia providers nationally. The company currently serves over 25 locations in Florida, Missouri, and Illinois.

About Goldman Sachs Private Capital Investing

Private Capital Investing (“PCI”) is Goldman Sachs’ investment platform dedicated to providing preferred equity and mezzanine capital to growth and middle market companies based in North America. PCI invests $20 million – $150 million of equity per transaction in the form of common, preferred, and structured equity.

About Cross Keys Capital

Cross Keys Capital is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.

For more information, please contact Bill Britton, Managing Director, Cross Keys Capital at 954-779-3195 or bbritton@ckcap.com.


April 2013 – American Funeral Financial, LLC Acquires Funeral Funding Center, Inc.

Fort Lauderdale, FL – Cross Keys Capital, LLC is pleased to announce the sale of Funeral Funding Center, Inc. to American Funeral Financial, LLC. Cross Keys Capital initiated the transaction, assisted in negotiations, and acted as the exclusive financial advisor to Funeral Funding Center, Inc. The transaction closed on April 30, 2013 and no financial details were disclosed.

Cross Keys Capital was instrumental in the sale of my business. We previously tried to sell Funeral Funding on our own without success, so we are grateful for the knowledge and expertise Cross Keys was able to provide in order to facilitate a transaction” stated Amy Rosenberg, President of Funeral Funding Center, Inc.

The acquisition provides American Funeral Financial with a stronger presence in the Southeastern United States along with significant operational synergies. The acquired company will retain the Funeral Funding Center name.

Funeral Funding Center, Inc. (FFC) Based in Hollywood, FL, FFC was founded in 1996 by Hal Rosenberg. The Company currently has 28 employees and provides advanced proceeds of life insurance policies to families for at-need funeral expenses.

American Funeral Financial, LLC (AFF) Based in Greenville, SC, AFF was founded in 2009. AFF is a privately-held insurance assignment funding and collection agency servicing strategic partners within the funeral industry.

Contact Cross Keys Capital: Cross Keys Capital is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principles of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.

For more information, please contact Rick Becker.


April 2013 – Gwinnett Anesthesia Service, P.C. acquired by American Anesthesiology, a subsidiary of MEDNAX, Inc.

 
Gwinnett County, Georgia – Cross Keys Capital is pleased to announce that Gwinnett County-based Gwinnett Anesthesia Service, P.C. has been acquired by American Anesthesiology, a subsidiary of Sunrise, Florida-based MEDNAX, Inc. (NYSE: MD). Cross Keys Capital acted as the exclusive financial advisor to the partners of Gwinnett Anesthesia Service, P.C. “As physicians, our focus is always on our patients, so partnering with a national medical group with 30 years of business expertise, defined office infrastructure, and a commitment to research, education, and quality gives us the ability to maintain that focus,” said Larry Goldstein, M.D. who will serve as medical director for the practice. “Given the uncertainties in healthcare, we look forward to the stability and growth that comes with being part of American Anesthesiology.”
 
Gwinnett Anesthesia Service, P.C.
Gwinnett Anesthesia was founded in 1983 and is a private group practice consisting of 22 anesthesiologists, 59 anesthetists and 4 other clinical and administrative support staff, providing anesthesia services across a wide spectrum of subspecialty areas, including obstetric, cardiology, gynecology, general surgery and orthopedic care, as well as acute and chronic pain management services. The practice provides anesthesia services at Gwinnett Medical Center in Lawrenceville and Duluth, as well as at surgery centers and other outpatient facilities throughout those metropolitan areas. The practice will become part of MEDNAX’s American Anesthesiology division and is the third Georgia-based practice to join the company.
 
MEDNAX, Inc.
MEDNAX, Inc. is a national medical group that comprises the nation’s leading provider of neonatal, maternal-fetal and pediatric physician subspecialty services as well as anesthesia services. Physicians and advanced practitioners practicing as part of MEDNAX are reshaping the delivery of care within their specialties and subspecialties, using evidence-based tools, continuous quality initiatives and clinical research to enhance patient outcomes and provide high-quality, cost-effective care. Pediatrix Medical Group, a unit of MEDNAX, was founded in 1979 and now includes neonatal physicians who provide services at more than 330 neonatal intensive care units, who collaborate with affiliated maternal-fetal medicine, pediatric cardiology and pediatric critical care physician subspecialists to provide a clinical care continuum. Pediatrix is also the nation’s largest provider of newborn hearing screens. In 2007, MEDNAX expanded into anesthesia services. Today, American Anesthesiology includes more than 1,575 anesthesiologists and advanced practitioners who provide anesthesia care to patients in connection with surgical and other procedures as well as pain management. MEDNAX, through its affiliated professional corporations, employs more than 2,150 physicians in 34 states and Puerto Rico.
 
About Cross Keys Capital
Cross Keys Capital is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.
For more information, please contact Bill Britton, Managing Director, Cross Keys Capital at 954-779-3195 or bbritton@ckcap.com.


Press Releases 2013

September 2013 – ECU Line today announced the acquisition of 100% interest in Econocaribe Consolidators, a US based logistics company.

SINGAPORE, Sept. 27, 2013 /PRNewswire/ — ECU Line, part of the Avvashya Group, today announced the acquisition of 100% interest in Econocaribe Consolidators, a US based logistics company.
 
econocaribeEconocaribe, incorporated in 1968, is today the 3rd largest LCL consolidator (NVOCC) in the US. With its headquarters in Miami, Florida, Econocaribe has 9 offices in the US and 22 receiving terminals throughout the US and Canada, as well as partners across the world. Econocaribe specializes in freight consolidation and FCL services to Latin America, the Caribbean, Europe, the Mediterranean, the Middle East, Africa and Asia. They also offer import LCL/FCL transportation services from around the world into the United States and Puerto Rico.
 
ECU Line has, in recent years, been working in the USA, engaging Econocaribe as its agent. This acquisition now enables ECU Line to complete its service offerings, both in terms of global capabilities and coverage. The acquisition also increases ECU’s foot hold in the US market — which, as we all know, is the #1 economy in the world.
 
Speaking about the acquisition, Mr. Shashi Kiran Shetty, Executive Chairman Avvashya Group, said, “Econocaribe has been our partner in the US and we have worked very closely with them. They have an extremely efficient and capable management team that has taken the company to being amongst the top NVOCCs in the US. I am very happy that now they are a part of our family and we have now become truly a global MNC, which is a dream achieved”.
 
Mr. John Abisch, President, Econocaribe Consolidators, said, “Myself and the Econocaribe family look forward to joining the ECU team. Econocaribe has had the pleasure to be the USA agent for ECU for a number of years and I am confident our philosophies are aligned which should make for a smooth transition. I expect both organizations will benefit from joining forces and allow us to provide a great environment for our employees and great service to our clients”
 
About ECU Line
 
ECU-LINE is a global NVOCC with headquarter in Antwerp, Belgium and is part of The AVVASHYA Group headquartered in India. With 190 offices in over 90 countries and more than 3000 employees, the company is one of the market leaders in its industry segment.
 
About Cross Keys Capital
 
Cross Keys Capital is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.
 
For more information, please contact Rick Becker, Managing Director, Cross Keys Capital at 954-779-3135 or rbecker@ckcap.com
 

May 2013 – Resolute Anesthesia and Pain Solutions, LLC was formed by Merger of Broad Anesthesia Associates, LLC and Mid-Florida Anesthesia Associates, Inc.

 
Boca Raton, Florida – Cross Keys Capital is pleased to announce that South Florida-based Resolute Anesthesia and Pain Solutions, LLC (“Resolute”) has been formed by merger of Broad Anesthesia Associates, LLC and Mid-Florida Anesthesia Associates, Inc. The recapitalization was sponsored by the Private Capital Investing Group of Goldman Sachs & Co. (NYSE:GS). Cross Keys Capital acted as the exclusive financial advisor to the partners of Broad Anesthesia Associates, LLC and Mid-Florida Anesthesia Associates, Inc.
 
“The practice of medicine requires increasing investments in information technology, operations and compliance,” said Dr. Harvey Plosker, a founding partner of Broad Anesthesia Associates, LLC. “Our view is that of all the strategic alternatives we looked at, our partnership with Goldman Sachs provides us with the broadest array of capabilities, including the management expertise and capital that will allow us and our partners to focus on practicing medicine and at the same time realize our long-term strategic goals.”
 
“We pride ourselves at being ‘ahead of the curve’ with respect to patient management, compliance and the overall patient experience,” said Dr. Marc Levine, a founding partner of Mid-Florida Anesthesia Associates. “We believe this emphasis is a key differentiator for us and the reason we have been so successful. We learned that Goldman Sachs shares this vision, and that our partnership provides Resolute Anesthesia and Pain Solutions with the foundation to deliver anesthesia and pain management services on a national basis with like-minded doctors who believe the patient comes first.”
 
About Resolute Anesthesia and Pain Solutions, LLC
 
Headquartered in Boca Raton, Florida, Resolute provides anesthesia and pain management solutions to its patients. The company was recently formed by a group of physician partners in a recapitalization led by Goldman, Sachs & Co. Resolute provides state-of-the-art revenue cycle management, compliance, and administrative support capabilities and seeks to partner with leading anesthesia providers nationally. The company currently serves over 25 locations in Florida, Missouri, and Illinois.
 
About Goldman Sachs Private Capital Investing
 
Private Capital Investing (“PCI”) is Goldman Sachs’ investment platform dedicated to providing preferred equity and mezzanine capital to growth and middle market companies based in North America. PCI invests $20 million – $150 million of equity per transaction in the form of common, preferred, and structured equity.
 
About Cross Keys Capital
 
Cross Keys Capital is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.
 
For more information, please contact Bill Britton, Managing Director, Cross Keys Capital at 954-779-3195 or bbritton@ckcap.com.
 

April 2013 – Gwinnett Anesthesia Service, P.C. acquired by American Anesthesiology, a subsidiary of MEDNAX, Inc.

 
Gwinnett County, Georgia – Cross Keys Capital is pleased to announce that Gwinnett County-based Gwinnett Anesthesia Service, P.C. has been acquired by American Anesthesiology, a subsidiary of Sunrise, Florida-based MEDNAX, Inc. (NYSE: MD). Cross Keys Capital acted as the exclusive financial advisor to the partners of Gwinnett Anesthesia Service, P.C. “As physicians, our focus is always on our patients, so partnering with a national medical group with 30 years of business expertise, defined office infrastructure, and a commitment to research, education, and quality gives us the ability to maintain that focus,” said Larry Goldstein, M.D. who will serve as medical director for the practice. “Given the uncertainties in healthcare, we look forward to the stability and growth that comes with being part of American Anesthesiology.”
 
Gwinnett Anesthesia Service, P.C.
 
Gwinnett Anesthesia was founded in 1983 and is a private group practice consisting of 22 anesthesiologists, 59 anesthetists and 4 other clinical and administrative support staff, providing anesthesia services across a wide spectrum of subspecialty areas, including obstetric, cardiology, gynecology, general surgery and orthopedic care, as well as acute and chronic pain management services. The practice provides anesthesia services at Gwinnett Medical Center in Lawrenceville and Duluth, as well as at surgery centers and other outpatient facilities throughout those metropolitan areas. The practice will become part of MEDNAX’s American Anesthesiology division and is the third Georgia-based practice to join the company.
 
MEDNAX, Inc.
 
MEDNAX, Inc. is a national medical group that comprises the nation’s leading provider of neonatal, maternal-fetal and pediatric physician subspecialty services as well as anesthesia services. Physicians and advanced practitioners practicing as part of MEDNAX are reshaping the delivery of care within their specialties and subspecialties, using evidence-based tools, continuous quality initiatives and clinical research to enhance patient outcomes and provide high-quality, cost-effective care. Pediatrix Medical Group, a unit of MEDNAX, was founded in 1979 and now includes neonatal physicians who provide services at more than 330 neonatal intensive care units, who collaborate with affiliated maternal-fetal medicine, pediatric cardiology and pediatric critical care physician subspecialists to provide a clinical care continuum. Pediatrix is also the nation’s largest provider of newborn hearing screens. In 2007, MEDNAX expanded into anesthesia services. Today, American Anesthesiology includes more than 1,575 anesthesiologists and advanced practitioners who provide anesthesia care to patients in connection with surgical and other procedures as well as pain management. MEDNAX, through its affiliated professional corporations, employs more than 2,150 physicians in 34 states and Puerto Rico.
 
About Cross Keys Capital
 
Cross Keys Capital is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.
For more information, please contact Bill Britton, Managing Director, Cross Keys Capital at 954-779-3195 or bbritton@ckcap.com.
 

April 2013 – American Funeral Financial, LLC Acquires Funeral Funding Center, Inc.

 
Fort Lauderdale, FL – Cross Keys Capital, LLC is pleased to announce the sale of Funeral Funding Center, Inc. to American Funeral Financial, LLC. Cross Keys Capital initiated the transaction, assisted in negotiations, and acted as the exclusive financial advisor to Funeral Funding Center, Inc. The transaction closed on April 30, 2013 and no financial details were disclosed.
 
“Cross Keys Capital was instrumental in the sale of my business. We previously tried to sell Funeral Funding on our own without success, so we are grateful for the knowledge and expertise Cross Keys was able to provide in order to facilitate a transaction” stated Amy Rosenberg, President of Funeral Funding Center, Inc.
 
The acquisition provides American Funeral Financial with a stronger presence in the Southeastern United States along with significant operational synergies. The acquired company will retain the Funeral Funding Center name.
 
Funeral Funding Center, Inc. (FFC) Based in Hollywood, FL, FFC was founded in 1996 by Hal Rosenberg. The Company currently has 28 employees and provides advanced proceeds of life insurance policies to families for at-need funeral expenses.
 
American Funeral Financial, LLC (AFF) Based in Greenville, SC, AFF was founded in 2009. AFF is a privately-held insurance assignment funding and collection agency servicing strategic partners within the funeral industry.
 
Contact Cross Keys Capital: Cross Keys Capital is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principles of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.
 
For more information, please contact Rick Becker.
 


DECEMBER 2012 – Valvoline Instant Oil Change Franchisee Acquires Southern Express Lubes, Inc.

southern express lubes with date
Fort Lauderdale, FL – Cross Keys Capital, LLC is pleased to announce the sale of Southern Express Lubes, Inc. to Metrolube Enterprises, Inc., a Valvoline Instant Oil Change™ franchisee. Cross Keys Capital initiated the transaction, assisted in negotiations, and acted as the exclusive financial advisor to Southern Express Lubes, Inc. The transaction closed on December 21, 2012, and no financial details were disclosed. “The team at Cross Keys Capital did a superb job. Their expertise and experience was most useful and appreciated,” stated David Morgan, President of Southern Express Lubes, Inc.

Metrolube acquired 40 quick lube stores (37 Mobil 1 Lube Express sites and two Shell Rapid Lubes) located in central, southwest, and southern Florida. The stores will be rebranded under the Valvoline Instant Oil Change™ banner during January and February 2013. The acquisition brings Metrolube’s total store count to 55, with 50 of those stores in Florida and five in Massachusetts, where the franchisee was founded.

Southern Express Lubes, Inc. (SEL)
Based in Chevy Chase, MD, with operations primarily in central, southwest, and south Florida, SEL was founded in 1989. At the time of sale, SEL operated 41 stores which provide oil changes and other preventative maintenance services including air filter and wiper blade replacement, transmission fluid exchange, and coolant flushes.

Valvoline Instant Oil Change™ (VIOC)

Based in Lexington, KY, Valvoline Instant Oil Change™ is a brand of Ashland Inc. (NYSE: ASH) which sells automotive, commercial, and industrial lubricants including Eagle One™ appearance products, Car Brite™ car restoration products, Zerex™ antifreeze, SynPower™ performance products, MaxLife™ products created for higher-mileage engines, and NextGen™ motor oil which is created with 50 percent recycled, re-refined oil. With approximately 900 locations throughout the United States, Valvoline Instant Oil Change™ is a leader in the quick-lube industry.

Metrolube Enterprises, Inc. (VIOC Franchisee)

Based in Marlborough, MA, Metrolube Enterprises, Inc. is a VIOC franchisee that was founded by Bob Ladas in 2002. Metrolube opened its first store in 2003, in Hudson, MA and soon added other stores in the Boston metro area. In 2009, Metrolube expanded into Florida with VIOC facilities in West Palm Beach and Stuart, FL. By January 2012, the Company operated 16 VIOC locations, with 11 stores in Florida and 5 stores in Massachusetts. As of December 2012, Metrolube Enterprises operates 55 VIOC franchise locations.

Contact Cross Keys Capital:
Cross Keys Capital is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.

For more information, please contact David Burns, Managing Director, Cross Keys Capital at 954-779-3198 or dburns@ckcap.com.


DECEMBER 2012 – North American Partners in Anesthesia (NAPA) acquires Anesthesiology Solution

anesthesiology solution with date
Fort Lauderdale, FL – Cross Keys Capital, LLC is pleased to announce the sale of Anesthesiology Solution, LLC to North American Partners in Anesthesia, a portfolio company of Moelis Capital Partners. Cross Keys Capital initiated the transaction, assisted in negotiations, and acted as the exclusive financial advisor to Anesthesiology Solution, LLC. The transaction closed on December 14, 2012, and no financial details were disclosed.

“The team at Cross Keys Capital provided excellent service and demonstrated their strong expertise in anesthesiology,” stated Dr. Michael Kline, President of Anesthesiology Solution. “We are very pleased with the transaction and believe Anesthesiology Solution has found the right partner,” commented Bill Britton, Managing Director and Co-Founder of Cross Keys Capital.

Anesthesiology Solution, LLC

Based in Honesdale, PA, Anesthesiology Solution LLC was founded in 2007. The company provides 24/7 anesthesia services to four anesthetizing locations, with procedures including general surgery, obstetrics, orthopedics, neurosurgery, and endoscopy.

North American Partners in Anesthesia (NAPA)

Based in Melville, NY, NAPA was founded in 1986 and is the largest single specialty anesthesia management company in the United States. With over 900 clinicians nationwide, NAPA partners with both hospitals and other health care facilities across the nation.

Moelis Capital Partners

Based in New York, NY, Moelis Capital Partners is a middle market private equity firm founded in 2007 in connection with the formation of Moelis & Company, a global investment bank. Moelis Capital Partners manages $700 million of committed private equity capital.

Contact Cross Keys Capital

Cross Keys Capital is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.

For more information, please contact Bill Britton, Managing Director, Cross Keys Capital at 954-779-3195 or bbritton@ckcap.com.


DECEMBER 2012 – North American Partners in Anesthesia (NAPA) acquires Northeast Anesthesiology

northeast anesthesiology with date
Fort Lauderdale, FL – Cross Keys Capital, LLC is pleased to announce the sale of Northeast Anesthesiology, Inc. to North American Partners in Anesthesia, a portfolio company of Moelis Capital Partners. Cross Keys Capital initiated the transaction, assisted in negotiations, and acted as the exclusive financial advisor to Northeast Anesthesiology, Inc. The transaction closed on December 14, 2012, and no financial details were disclosed.

“With Cross Keys Capital’s extensive experience in the anesthesia space, we received best-in-class service,” stated Dr. Michael Kline, President of Northeast Anesthesiology. “It was a pleasure helping Dr. Kline and the rest of the shareholders of Northeast Anesthesiology unlock the value of their business,” commented Bill Britton, Managing Director and Co-Founder of Cross Keys Capital.

Northeast Anesthesiology, Inc.
Based in Scranton, PA, Northeast Anesthesiology Inc. was founded in 1984 and has grown to become a well-established anesthesiology practice. The company currently employs 12 physicians, 16 Certified Registered Nurse Anesthetists, and several other subcontracted clinicians. Northeast Anesthesiology delivers anesthesia services at over 20 locations daily, and performs over 20,000 cases annually including general surgery, obstetrics, orthopedics, neurosurgery, and endoscopy.

North American Partners in Anesthesia (NAPA)
Based in Melville, NY, NAPA was founded in 1986 and is the largest single specialty anesthesia management company in the United States. With over 900 clinicians nationwide, NAPA partners with both hospitals and other health care facilities across the nation.

Moelis Capital Partners
Based in New York, NY, Moelis Capital Partners is a middle market private equity firm founded in 2007 in connection with the formation of Moelis & Company, a global investment bank. Moelis Capital Partners manages $700 million of committed private equity capital.

Contact Cross Keys Capital:
Cross Keys Capital is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.

For more information, please contact Bill Britton, Managing Director, Cross Keys Capital at 954-779-3195 or bbritton@ckcap.com.


NOVEMBER 2012 – Alkon Corporation acquires Star Hydraulics, Inc.

star hydraluics
Fort Lauderdale, FL – Cross Keys Capital, LLC is pleased to announce the sale of Star Hydraulics, Inc. to Alkon Acquisition Company, LLC, a subsidiary of Alkon Corporation. Cross Keys Capital initiated the transaction, assisted in negotiations, and acted as the exclusive financial advisor to Star Hydraulics, Inc. The transaction closed on November 30, 2012, and no financial details were disclosed.

“Roger Schoenfeld and the team at Cross Keys Capital were highly professional and demonstrated strong knowledge of running a sell-side investment banking process every step of the way. I can’t thank them enough,” stated Jenny Lewelling, President of Star Hydraulics. “Star Hydraulics is a company with an outstanding reputation and great people. Their legacy will endure under the guidance of the Company’s new owner, Alkon Corporation.” commented Roger Schoenfeld, Managing Director of Cross Keys Capital.

Star Hydraulics, Inc.

Based in River Grove, IL, Star Hydraulics has established itself as a leader in the manual hydraulic pump field offering the most complete range of standard hand and foot pumps. The Company manufactures long stroke jacks, reservoirs, parking meter post straighteners, 4-way valves, special manual pumps, and custom designed special hydraulic and pneumatic cylinders.

Alkon Corporation

Based in Freemont, OH, Alkon Corporation manufactures and supplies valves, fittings, and flow controls. The Company offers customized fittings, emergency repair kits, fittings for misting applications, industrial tubing, pipe fittings, barb adapters, compression fittings, and brass tube fittings.

Contact Cross Keys Capital:

Cross Keys Capital is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.

For more information, please contact Roger Schoenfeld, Managing Director, Cross Keys Capital at 847-945-2166 or rschoenfeld@ckcap.com.


NOVEMBER 2012 – Prime Materials Recovery acquires Allied Metal Corporation

allied metal
Fort Lauderdale, FL – Cross Keys Capital, LLC is pleased to announce the sale of Allied Metal Corporation to Prime Materials Recovery Inc. Cross Keys Capital initiated the transaction, assisted in negotiations, and acted as the exclusive investment banking advisor to Allied Metal Corporation. The transaction closed on November 23, 2012 and no financial details were disclosed.

Founded in 1963, Allied Metal Corporation has developed and managed strong relationships with foreign and domestic scrap metal suppliers. The Company’s new owner, Prime Materials Recovery intends to expand the brokerage side of the business by leveraging Allied Metal Corporation’s relationships and extensive knowledge of the industry. “This transaction epitomizes value creation, and Cross Keys Capital is privileged to have served as Allied Metal’s sell-side investment banker in this extremely personal endeavor for the family. In addition to generating the obvious business synergies with Prime Materials Recovery, the combination of these fine family-owned firms enabled our client to implement a succession plan, ensure the sustainability of the enterprise and unlock some value while creating the operational continuity the family was seeking,” commented Alyssa Fernandez-Isla, a Senior Associate at Cross Keys Capital.

Allied Metal Corporation

Based in Miami, FL, Allied Metal Corporation is a wholesale buyer of non-ferrous metal scrap from United States, Caribbean, Central American and South American markets. It purchases various non-ferrous metals, including copper, yellow and red brass, nickel, bronze, zinc, lead, magnesium, aluminum, beverage cans, radiators, batteries, stainless steel, and catalytic converters, as well as non-traditional products and mixed-metals. The company serves scrap dealers.

Prime Materials Recovery Inc.

Based in East Hartford, CT, Prime Materials Recovery Inc. operates as a non-ferrous metal merchant and processor in the United States. The company manufactures reusable products, which are derived from the secondary resources generated at wire and cable manufacturers, utilities, demolition companies, and scrap metal recyclers. It processes, as well as purchases and sells various non-ferrous metals through its fleet of trucks and outside carriers. The company was founded in 2002 and is based in East Hartford, CT with processing facilities and locations in Canastota, NY; Willimantic, CT; Orangeburg, SC.

Contact Cross Keys Capital

Cross Keys Capital (www.crosskeyscapital.com) is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.

For more information, please contact Rick Becker, Managing Director, Cross Keys Capital at 954-779-3135 or rbecker@ckcap.com or Roger Schoenfeld, Managing Director, Cross Keys Capital at 847-945-2166 or rschoenfeld@ckcap.com.


AUGUST 2012 – Sheridan Healthcare acquires Imaging Consultants of South Florida

icsf

Fort Lauderdale, FL – Cross Keys Capital, LLC is pleased to announce the sale of Imaging Consultants of South Florida (ICSF) to Sheridan Healthcare. Cross Keys Capital acted as the exclusive financial advisor to Imaging Consultants of South Florida.

“With the dedicated collaborative efforts of Cross Keys Capital, we were able to achieve our end result of 100% of our physicians in agreement and pleased with the deal,” stated Chad Kelman, Managing Partner of ICSF. “Our role is always to find the right partner for a practice so that groups like ICSF can grow and continue to provide service of the utmost quality to the community,” commented Bill Britton, Managing Director and Co-Founder of Cross Keys Capital.

 

Imaging Consultants of South Florida (ICSF)

Based in Palm Beach County, FL, Imaging Consultants of South Florida is a premier provider of comprehensive diagnostic imaging and interventional radiology professional services to diagnose and treat many conditions with minimally invasive procedures in hospital and outpatient settings. Founded over 30 years ago, ICSF is comprised of a group of physicians with over 25 radiologists across four hospitals and 12 imaging centers throughout South Florida.

Sheridan Healthcare

Based in Sunrise, FL, Sheridan Healthcare is a physician practice management company that serves anesthesiologists, neonatologists, pediatricians, radiologists, emergency room, and other general and specialty care physicians. The firm also provides outsourced staffing recruitment, billing, compliance, and administration services to hospitals, group practices, ambulatory surgery centers, and other health care facilities. The company provides services to more than 1,600 doctors and 100 facilities in about 20 states.

Contact Cross Keys Capital:

Cross Keys Capital is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.

For more information, please contact Bill Britton, Managing Director, Cross Keys Capital at 954-779-3195 or bbritton@ckcap.com.


Press Releases 2012

DECEMBER 2012 – Valvoline Instant Oil Change Franchisee Acquires Southern Express Lubes, Inc.

 
southern express lubes with dateFort Lauderdale, FL – Cross Keys Capital, LLC is pleased to announce the sale of Southern Express Lubes, Inc. to Metrolube Enterprises, Inc., a Valvoline Instant Oil Change™ franchisee. Cross Keys Capital initiated the transaction, assisted in negotiations, and acted as the exclusive financial advisor to Southern Express Lubes, Inc. The transaction closed on December 21, 2012, and no financial details were disclosed. “The team at Cross Keys Capital did a superb job. Their expertise and experience was most useful and appreciated,” stated David Morgan, President of Southern Express Lubes, Inc.
 
Metrolube acquired 40 quick lube stores (37 Mobil 1 Lube Express sites and two Shell Rapid Lubes) located in central, southwest, and southern Florida. The stores will be rebranded under the Valvoline Instant Oil Change™ banner during January and February 2013. The acquisition brings Metrolube’s total store count to 55, with 50 of those stores in Florida and five in Massachusetts, where the franchisee was founded.
 
Southern Express Lubes, Inc. (SEL)
Based in Chevy Chase, MD, with operations primarily in central, southwest, and south Florida, SEL was founded in 1989. At the time of sale, SEL operated 41 stores which provide oil changes and other preventative maintenance services including air filter and wiper blade replacement, transmission fluid exchange, and coolant flushes.
 
Valvoline Instant Oil Change™ (VIOC)
Based in Lexington, KY, Valvoline Instant Oil Change™ is a brand of Ashland Inc. (NYSE: ASH) which sells automotive, commercial, and industrial lubricants including Eagle One™ appearance products, Car Brite™ car restoration products, Zerex™ antifreeze, SynPower™ performance products, MaxLife™ products created for higher-mileage engines, and NextGen™ motor oil which is created with 50 percent recycled, re-refined oil. With approximately 900 locations throughout the United States, Valvoline Instant Oil Change™ is a leader in the quick-lube industry.
 
Metrolube Enterprises, Inc. (VIOC Franchisee)
Based in Marlborough, MA, Metrolube Enterprises, Inc. is a VIOC franchisee that was founded by Bob Ladas in 2002. Metrolube opened its first store in 2003, in Hudson, MA and soon added other stores in the Boston metro area. In 2009, Metrolube expanded into Florida with VIOC facilities in West Palm Beach and Stuart, FL. By January 2012, the Company operated 16 VIOC locations, with 11 stores in Florida and 5 stores in Massachusetts. As of December 2012, Metrolube Enterprises operates 55 VIOC franchise locations.
 
Contact Cross Keys Capital:
Cross Keys Capital is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.
 
For more information, please contact David Burns, Managing Director, Cross Keys Capital at 954-779-3198 or dburns@ckcap.com.
 

DECEMBER 2012 – North American Partners in Anesthesia (NAPA) acquires Anesthesiology Solution

 
anesthesiology solution with dateFort Lauderdale, FL – Cross Keys Capital, LLC is pleased to announce the sale of Anesthesiology Solution, LLC to North American Partners in Anesthesia, a portfolio company of Moelis Capital Partners. Cross Keys Capital initiated the transaction, assisted in negotiations, and acted as the exclusive financial advisor to Anesthesiology Solution, LLC. The transaction closed on December 14, 2012, and no financial details were disclosed.
“The team at Cross Keys Capital provided excellent service and demonstrated their strong expertise in anesthesiology,” stated Dr. Michael Kline, President of Anesthesiology Solution. “We are very pleased with the transaction and believe Anesthesiology Solution has found the right partner,” commented Bill Britton, Managing Director and Co-Founder of Cross Keys Capital.
 
Anesthesiology Solution, LLC
Based in Honesdale, PA, Anesthesiology Solution LLC was founded in 2007. The company provides 24/7 anesthesia services to four anesthetizing locations, with procedures including general surgery, obstetrics, orthopedics, neurosurgery, and endoscopy.
 
North American Partners in Anesthesia (NAPA)
Based in Melville, NY, NAPA was founded in 1986 and is the largest single specialty anesthesia management company in the United States. With over 900 clinicians nationwide, NAPA partners with both hospitals and other health care facilities across the nation.
 
Moelis Capital Partners
Based in New York, NY, Moelis Capital Partners is a middle market private equity firm founded in 2007 in connection with the formation of Moelis & Company, a global investment bank. Moelis Capital Partners manages $700 million of committed private equity capital.
 
Contact Cross Keys Capital
Cross Keys Capital is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.
 
For more information, please contact Bill Britton, Managing Director, Cross Keys Capital at 954-779-3195 or bbritton@ckcap.com.
 

DECEMBER 2012 – North American Partners in Anesthesia (NAPA) acquires Northeast Anesthesiology

 
northeast anesthesiology with dateFort Lauderdale, FL – Cross Keys Capital, LLC is pleased to announce the sale of Northeast Anesthesiology, Inc. to North American Partners in Anesthesia, a portfolio company of Moelis Capital Partners. Cross Keys Capital initiated the transaction, assisted in negotiations, and acted as the exclusive financial advisor to Northeast Anesthesiology, Inc. The transaction closed on December 14, 2012, and no financial details were disclosed.
 
“With Cross Keys Capital’s extensive experience in the anesthesia space, we received best-in-class service,” stated Dr. Michael Kline, President of Northeast Anesthesiology. “It was a pleasure helping Dr. Kline and the rest of the shareholders of Northeast Anesthesiology unlock the value of their business,” commented Bill Britton, Managing Director and Co-Founder of Cross Keys Capital.
 
Northeast Anesthesiology, Inc.
Based in Scranton, PA, Northeast Anesthesiology Inc. was founded in 1984 and has grown to become a well-established anesthesiology practice. The company currently employs 12 physicians, 16 Certified Registered Nurse Anesthetists, and several other subcontracted clinicians. Northeast Anesthesiology delivers anesthesia services at over 20 locations daily, and performs over 20,000 cases annually including general surgery, obstetrics, orthopedics, neurosurgery, and endoscopy.
 
North American Partners in Anesthesia (NAPA)
Based in Melville, NY, NAPA was founded in 1986 and is the largest single specialty anesthesia management company in the United States. With over 900 clinicians nationwide, NAPA partners with both hospitals and other health care facilities across the nation.
 
Moelis Capital Partners
Based in New York, NY, Moelis Capital Partners is a middle market private equity firm founded in 2007 in connection with the formation of Moelis & Company, a global investment bank. Moelis Capital Partners manages $700 million of committed private equity capital.
 
Contact Cross Keys Capital:
Cross Keys Capital is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.
 
For more information, please contact Bill Britton, Managing Director, Cross Keys Capital at 954-779-3195 or bbritton@ckcap.com.
 

NOVEMBER 2012 – Alkon Corporation acquires Star Hydraulics, Inc.

 
star hydraluicsFort Lauderdale, FL – Cross Keys Capital, LLC is pleased to announce the sale of Star Hydraulics, Inc. to Alkon Acquisition Company, LLC, a subsidiary of Alkon Corporation. Cross Keys Capital initiated the transaction, assisted in negotiations, and acted as the exclusive financial advisor to Star Hydraulics, Inc. The transaction closed on November 30, 2012, and no financial details were disclosed.
 
“Roger Schoenfeld and the team at Cross Keys Capital were highly professional and demonstrated strong knowledge of running a sell-side investment banking process every step of the way. I can’t thank them enough,” stated Jenny Lewelling, President of Star Hydraulics. “Star Hydraulics is a company with an outstanding reputation and great people. Their legacy will endure under the guidance of the Company’s new owner, Alkon Corporation.” commented Roger Schoenfeld, Managing Director of Cross Keys Capital.
 
Star Hydraulics, Inc.
Based in River Grove, IL, Star Hydraulics has established itself as a leader in the manual hydraulic pump field offering the most complete range of standard hand and foot pumps. The Company manufactures long stroke jacks, reservoirs, parking meter post straighteners, 4-way valves, special manual pumps, and custom designed special hydraulic and pneumatic cylinders.
 
Alkon Corporation
Based in Freemont, OH, Alkon Corporation manufactures and supplies valves, fittings, and flow controls. The Company offers customized fittings, emergency repair kits, fittings for misting applications, industrial tubing, pipe fittings, barb adapters, compression fittings, and brass tube fittings.
 
Contact Cross Keys Capital:
Cross Keys Capital is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.
 
For more information, please contact Roger Schoenfeld, Managing Director, Cross Keys Capital at 847-945-2166 or rschoenfeld@ckcap.com.
 

NOVEMBER 2012 – Prime Materials Recovery acquires Allied Metal Corporation

 
allied metalFort Lauderdale, FL – Cross Keys Capital, LLC is pleased to announce the sale of Allied Metal Corporation to Prime Materials Recovery Inc. Cross Keys Capital initiated the transaction, assisted in negotiations, and acted as the exclusive investment banking advisor to Allied Metal Corporation. The transaction closed on November 23, 2012 and no financial details were disclosed.
 
Founded in 1963, Allied Metal Corporation has developed and managed strong relationships with foreign and domestic scrap metal suppliers. The Company’s new owner, Prime Materials Recovery intends to expand the brokerage side of the business by leveraging Allied Metal Corporation’s relationships and extensive knowledge of the industry. “This transaction epitomizes value creation, and Cross Keys Capital is privileged to have served as Allied Metal’s sell-side investment banker in this extremely personal endeavor for the family. In addition to generating the obvious business synergies with Prime Materials Recovery, the combination of these fine family-owned firms enabled our client to implement a succession plan, ensure the sustainability of the enterprise and unlock some value while creating the operational continuity the family was seeking,” commented Alyssa Fernandez-Isla, a Senior Associate at Cross Keys Capital.
 
Allied Metal Corporation
Based in Miami, FL, Allied Metal Corporation is a wholesale buyer of non-ferrous metal scrap from United States, Caribbean, Central American and South American markets. It purchases various non-ferrous metals, including copper, yellow and red brass, nickel, bronze, zinc, lead, magnesium, aluminum, beverage cans, radiators, batteries, stainless steel, and catalytic converters, as well as non-traditional products and mixed-metals. The company serves scrap dealers.
 
Prime Materials Recovery Inc.
Based in East Hartford, CT, Prime Materials Recovery Inc. operates as a non-ferrous metal merchant and processor in the United States. The company manufactures reusable products, which are derived from the secondary resources generated at wire and cable manufacturers, utilities, demolition companies, and scrap metal recyclers. It processes, as well as purchases and sells various non-ferrous metals through its fleet of trucks and outside carriers. The company was founded in 2002 and is based in East Hartford, CT with processing facilities and locations in Canastota, NY; Willimantic, CT; Orangeburg, SC.
 
Contact Cross Keys Capital
Cross Keys Capital (www.crosskeyscapital.com) is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.
 
For more information, please contact Rick Becker, Managing Director, Cross Keys Capital at 954-779-3135 or rbecker@ckcap.com or Roger Schoenfeld, Managing Director, Cross Keys Capital at 847-945-2166 or rschoenfeld@ckcap.com.
 

AUGUST 2012 – Sheridan Healthcare acquires Imaging Consultants of South Florida

 
icsfFort Lauderdale, FL – Cross Keys Capital, LLC is pleased to announce the sale of Imaging Consultants of South Florida (ICSF) to Sheridan Healthcare. Cross Keys Capital acted as the exclusive financial advisor to Imaging Consultants of South Florida.
 
“With the dedicated collaborative efforts of Cross Keys Capital, we were able to achieve our end result of 100% of our physicians in agreement and pleased with the deal,” stated Chad Kelman, Managing Partner of ICSF. “Our role is always to find the right partner for a practice so that groups like ICSF can grow and continue to provide service of the utmost quality to the community,” commented Bill Britton, Managing Director and Co-Founder of Cross Keys Capital.
 
Imaging Consultants of South Florida (ICSF)
Based in Palm Beach County, FL, Imaging Consultants of South Florida is a premier provider of comprehensive diagnostic imaging and interventional radiology professional services to diagnose and treat many conditions with minimally invasive procedures in hospital and outpatient settings. Founded over 30 years ago, ICSF is comprised of a group of physicians with over 25 radiologists across four hospitals and 12 imaging centers throughout South Florida.
 
Sheridan Healthcare
Based in Sunrise, FL, Sheridan Healthcare is a physician practice management company that serves anesthesiologists, neonatologists, pediatricians, radiologists, emergency room, and other general and specialty care physicians. The firm also provides outsourced staffing recruitment, billing, compliance, and administration services to hospitals, group practices, ambulatory surgery centers, and other health care facilities. The company provides services to more than 1,600 doctors and 100 facilities in about 20 states.
 
Contact Cross Keys Capital:
Cross Keys Capital is an independent investment bank providing merger and acquisition advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.
 
For more information, please contact Bill Britton, Managing Director, Cross Keys Capital at 954-779-3195 or bbritton@ckcap.com.
 

APRIL 2012 – American Signcrafters and Interstate Signcrafters acquired by Hudson Ferry Capital

 
Fort Lauderdale, Florida – Cross Keys Capital is pleased to announce that Hudson Ferry Capital (“Hudson Ferry”), a New York-based investment firm has acquired American Signcrafters and Interstate Signcrafters (“American Signcrafters”). Based in Islip, New York, American Signcrafters has been a leader in fully integrated branding solutions for global businesses nationwide. The transaction closed on April 13, 2012.
 
Cross Keys Capital assisted in negotiations and acted as the exclusive financial advisor to the Shareholders of American Signcrafters.
 
American Signcrafters and Interstate Signcrafters
American & Interstate Signcrafters provides fully integrated branding solutions for global businesses nationwide, ranging from concept and design to project management, fabrication, and installation. Through a vast network of qualified and tested partners, they provide complete solutions from a single place. As a full service sign company, American Signcrafters and Interstate Signcrafters specialize in national bank conversions and re-branding, restaurants, retail stores and global businesses.
 
Hudson Ferry Capital
Hudson Ferry Capital was formed to make control-oriented buyout investments in established lower middle-market U.S. companies with enterprise values typically between $15 million and $75 million. Hudson Ferry is pursuing acquisitions of established privately-owned businesses that differentiate themselves through product and process innovation in stable or evolving markets and that generate strong cash flow and consistent revenue growth. The partners of Hudson Ferry have successfully invested in these types of companies over the last two decades. The firm has $165 million of capital under management and makes investments through its second fund, Hudson Ferry Capital II, L.P.
 

APRIL 2012 – CLEO Communications has been acquired by Globe Equity Partners

Cross Keys Capital, a Fort Lauderdale Investment Bank, is pleased to announce that Globe Equity Partners (“Globe Equity”), a California-based investment firm, has acquired CLEO Communications (“CLEO”). Based in Loves Park, Illinois, CLEO has been a pioneer in B2B gateway and management solutions since its founding in 1976.
 
Cross Keys Capital assisted in negotiations and acted as the exclusive Financial Advisor to the Shareholders of CLEO.
 
CLEO
Established in 1976, Cleo’s business-to-business software is now utilized in more than 30,000 installations in thousands of global enterprises. Cleo Communications provides proven, secure, advanced software solutions to companies that have enterprise-wide managed file transfer needs. Powerful, easy-to-use software helps clients secure, manage and consolidate data while meeting the most comprehensive requirements of multiprotocol communications. Globe Investment Partners is an investment firm located in Santa Clara, California.
 
Globe Equity Partners
Globe Equity Partners is an investment firm focused on software and software-enabled services sectors. Globe Equity Partners seeks to invest in niche enterprise software or software-enabled services with high recurring revenue and profitable operations.
 

APRIL 2012-Heritage Manufacturing, Inc. acquired by Taurus

Cross Keys Capital is pleased to announce that Taurus, a manufacturer of firearms, has acquired Heritage Manufacturing. Based in Opa Locka, Florida, Heritage Manufacturing has produced the Western Single Action Revolver as well as many other firearms.
 
Cross Keys Capital assisted in negotiations and acted as a financial advisor to the Shareholders of Heritage Manufacturing.
 
Heritage Manufacturing
Heritage Manufacturing was founded in 1992 by Jay Bernkrant and his wife, Maria Diaz. Featuring the Rough Rider 22LR and 22 Magnum combo revolver, Heritage manufacturers a wide variety of revolvers. The Heritage name and brand will continue to be marketed as a standalone while receiving the full support of the Taurus management efforts and distribution channels.
 
Taurus
Taurus International Manufacturing, Inc. is the U.S. importer of all Taurus brand firearms manufactured in Brazil and to be the manufacturer of the model PT-22, PT-25, PT-732 and PT-738 pistols made here in the US. Taurus International services all Taurus brand firearms under the LIFETIME REPAIR POLICY™ as well.
 

APRIL 2012-MAVCO acquired by FUNA

Cross Keys Capital is pleased to announce that FUNA, a global technology solutions provider, has acquired MAVCO. Based in Miami, Florida, MAVCO has been a leading provider of integrated low voltage system solutions specializing in audio, video, lighting, public address, broadcast, and security systems.
 
Cross Keys Capital assisted in negotiations and acted as the exclusive financial advisor to the Shareholders of MAVCO.
 
MAVCO
Established in 1962, MAVCO is a leading provider of integrated low voltage system solutions specializing in audio, video, lighting, public address, broadcast, and security systems. MAVCO has extensive marine and land-based experience and currently operates on a global basis from headquarters in Miami, Florida.
 
FUNA
FUNA, headquartered in Emden, Germany has over 38 years of experience integrating a variety of complex systems including Airports to Wind Turbines. FUNA’s extensive maritime coverage is comprised of vessels of all types including superyachts and cruise ships. These include such high profile projects as the largest cruise ship currently afloat as well as four of the largest superyachts in the world.
 

FEBRUARY 2012 – Information and Display Systems, LLC has been acquired by SMT (SportsMEDIA Technology Corporation)

 
Fort Lauderdale, Florida – Cross Keys Capital is pleased to announce that SMT (SportsMEDIA Technology Corporation), a premier provider of live data and graphics integrations products and services to broadcasters of high-end live sports events has acquired Information and Display Systems, LLC. Based in Jacksonville, Florida, Information and Display Systems, LLC has been a premier provider of live in-stadium, event scoring, statistics and display products and services to sports organization and high-end sports event presenters. The transaction closed on February 1, 2012.
 
In September of 2010, SMT raised growth capital funding from Los Angeles, Calif.-based Vicente Capital Partners (VCP) and began exploring growth through strategic acquisition. The ideal strategic partner for SMT would: (1) open new markets for SMT products and services; (2) add additional products and services to the current SMT product mix; and (3) assist SMT in extending its geographic footprint from the U.S. into Europe, Asia and Australia. In June 2011, IDS needed to recapitalize its corporate structure and was actively looking for a strategic partner. SMT and IDS began talks in the last quarter of 2011 that ultimately resulted in the IDS board approving SMT’s proposal to wholly acquire IDS.
 
“SMT and IDS combined as one company, with its inherent synergies, will prove to be greater than the sum of the two companies apart,” said SMT President and CEO Gerard J. Hall. “This will be one of those rare and elusive strategic partnerships where one plus one really does equal three.”
 
Cross Keys Capital acted as the exclusive financial advisor to the Shareholders of Information and Display Systems, LLC
 
SMT (SportsMEDIA Technology Corporation)
Founded in 1988, SMT pioneered the first real-time scoring and wireless data system. SMT continues to develop and deliver customized products and services to enhance the production quality and viewers’ experience of sports and entertainment events. The company has won 20 Emmy awards since 1993. SMT’s solutions have been used at the most prestigious live events including the Kentucky Derby , the Super Bowl, NBC Sunday Night Football, the Indianapolis 500, the NCAA Final Four, ESPN Summer and Winter X Games, NBA on TNT, NASCAR and NHL. SMT’s customers include all major broadcast television companies as well as several regional and specialty sports networks. For more information, visit smt.com.
 
Information and Display Systems, LLC
IDS, a division of SMT, provides technology services and solutions for the sports industry worldwide. Founded in 1984, IDS began by providing the first electronic graphic display boards used at the Nabisco Grand Prix men’s professional tennis tour. Since that time, IDS has expanded by successfully identifying similar opportunities to utilize technology to help our clients such as Wimbledon, US Open, Olympics and Australian Open, better meet their goals, in many cases with technology IDS has pioneered. To learn more, go to ids-sports.com.
 

FEBRUARY 2012 – Intēgo Systems, Inc. has been acquired by Critical Alert Systems, LLC

 
Fort Lauderdale, Florida – Cross Keys Capital is pleased to announce that Critical Alert Systems, LLC (“Critical Alert”), a Maine-based critical messaging service company has acquired Intēgo Systems, Inc. Based in Jacksonville, Florida, Intēgo has been a leading innovator in nurse call systems since its founding in 1983. The transaction closed on February 20, 2012.
 
“Intego has set the standard for hospital nurse call systems, and their capabilities are a great fit with our established critical messaging services,” said Ed Meyercord, CEO of Critical Alert Systems. “This acquisition allows Critical Alert Systems to offer a more robust and fully integrated range of communications and critical messaging services to healthcare providers nationwide. And, we’re excited to work with the Intego team to extend the reach of their cutting edge products and services.”
 
Intēgo, which becomes a wholly owned subsidiary of Critical Alert Systems, will be called Intēgo Software, LLC following the acquisition and will remain headquartered in Jacksonville, FL. Intēgo Founder Charles Bell joins Critical Alert Systems as an equity partner and in the new role of Chief Strategy and Business Development Officer. Ted McNaught will retain his title of President and Chief Operating Officer at Critical Alert Systems and will have operating responsibility for Intēgo Software.
 
Cross Keys Capital acted as the exclusive financial advisor to the Shareholders of Intēgo Systems.
 
Critical Alert Systems, LLC
Critical Alert Systems provides critical messaging services to more than 300 healthcare facilities. The company, which operates as UCOM Paging in the northeast and TeleTouch Paging in the southcentral United States, is committed to a local focus designed to deliver superior system reliability and customer service. Wedbush Capital Partners is a majority investor in Critical Alert Systems. More information available at http://www.criticalalertsystems.com.
 
Intēgo Systems, Inc.
Intēgo Software LLC, a wholly owned subsidiary of Critical Alert Systems, serves the healthcare industry with products and services that help hospitals measurably improve patient care. Founded in 1983, the company develops and manufactures nurse call systems and the integrated software products that allow for these systems to communicate with the hospital enterprise. “We get the caregiver to the patient faster than anyone” is more than just a company slogan, it’s a core premise on which Intēgo operates every day. More information available at http://www.nursecall.com.
 

JUNE 2012 – Norwich Anesthesia Associates, PC acquired by NAPA Management Services Corporation, a portfolio company of Moelis Capital Partners

 
norwich 2Fort Lauderdale, FL – Cross Keys Capital, LLC is pleased to announce the sale of Norwich Anesthesia Associates, P.C. to NAPA Management Services Corporation, a portfolio company of Moelis Capital Partners. Cross Keys Capital acted as the exclusive financial advisor to Norwich Anesthesia Associates, P.C.
 
“The team at Cross Keys Capital was able to create an outstanding outcome due largely to their vast experience in closing deals in the anesthesia services arena,” stated Dr. James M. D’Amato, MD and President at Norwich Anesthesia Associates. “It was truly a pleasure working for such a talented market-leading anesthesiology practice and being able to bring them together with an extremely reputable nationwide provider,” commented Bill Britton, Managing Director and Co-Founder of Cross Keys Capital.
 
Norwich Anesthesia Associates
Based in Norwich, CT Norwich Anesthesia Associates, P.C. is a medical practice that provides anesthesiology services at William W. Backus Hospital located in Norwich, CT.
 
North American Partners in Anesthesia (NAPA)
Based in Melville, NY, North American Partners in Anesthesia (NAPA) was founded in 1986 and is the largest single specialty anesthesia management company in the United States. With over 900 clinicians nationwide, the company is known for having the most respected clinical staff, management leadership, and evidence-based quality initiatives in the industry.
 
Moelis Capital Partners
Based in New York, NY, Moelis Capital Partners is a middle market private equity firm founded in 2007 in connection with the formation of Moelis & Company, a global investment bank. Moelis Capital Partners manages $700 million of committed private equity capital.
 
Contact Cross Keys Capital
With offices in Fort Lauderdale and Chicago, Cross Keys Capital is an independent investment bank providing financial advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.
 
For more information, please contact Bill Britton, Managing Director, Cross Keys Capital at 954-779-3195 or bbritton@ckcap.com.
 

JUNE 2012 – Mason Dixon Energy, OGM Land Company and Percheron merge to form a nationwide land services company

 
ogm landFort Lauderdale, FL – Cross Keys Capital, LLC is pleased to announce the merger of OGM Land Company, Ltd., Percheron Surveying, LLC and Percheron Acquisitions, LLC with Mason Dixon Energy, LLC to form Percheron, LLC. The transaction was supported by equity financing from Hudson Ferry Capital LLC and a $55 million senior debt facility from a bank syndicate led by Fifth Third Bank. Cross Keys Capital served as the sell-side investment banker to OGM Land Company. The transaction closed on June 27, 2012.
 
Percheron is the first fully-integrated land services provider capable of serving clients coast-to-coast. The combined organization is headquartered in Houston, Texas and has the geographic reach and staff capacity to serve the entire country through its team of over 1,000 highly skilled professionals working out of 43 offices in 17 states. Each company will operate as a wholly-owned subsidiary of Percheron, LLC with its leadership and client relationships remaining intact. “This merger will allow for ongoing investment in people, systems, processes and new specialties, driving greater efficiencies, a deeper resource pool, access to more skilled workers and the ability to handle projects of all shapes and sizes from coast to coast.” said Mike Fleniken, CEO of Simonton, Texas-based OGM Land Company. “Customers will clearly benefit from the synergies created as Percheron leverages the best resources from each company to provide the highest level of service across the country.” commented Rick Becker, Managing Director of Cross Keys Capital.
 
OGM Land Company, Ltd.
Operating as a land management company, OGM Land Company, Ltd. specializes on the land side of the oil and gas exploration business. It provides strategic land acquisition management, GIS mapping, budget controls, and cradle to grave services. The company was founded in 1990 and is based in Simonton, Texas.
 
Percheron Acquisitions, LLC & Percheron Surveying, LLC
Percheron provides land and right-of-way acquisition services. The company was founded in 2007 and is based in Houston, Texas.
 
Mason Dixon Energy, LLC
Mason Dixon Energy, LLC provides contract land services to oil and gas exploration and production companies in the United States. It offers exploration and production services, such as project management, oil and gas lease negotiation and acquisition, right-of-way negotiation and acquisition, due diligence, lease take-off and mapping, geophysical permit negotiation and acquisition. The company was founded in 1984 and is based in Bridgeport, West Virginia.
 
Hudson Ferry Capital LLC
Hudson Ferry Capital LLC is a private equity firm specializing in acquisitions and growth capital transactions of lower middle market companies. The firm provides mezzanine financing and equity capital to support its investments. Hudson Ferry Capital LLC was founded in 2006 and is based in the New York, New York.
 
Contact Cross Keys Capital
Cross Keys Capital is an independent investment bank providing financial advisory services to established businesses in the lower-middle market. Cross Keys Capital advises companies with revenue ranging from $10 million to $200 million and a minimum EBITDA of $2 million. The principals of Cross Keys Capital have completed over 100 transactions in a myriad of industries, with a cumulative transaction value of greater than $3.0 billion.

For more information, please contact Rick Becker, Managing Director, Cross Keys Capital at 954-779-3135 or rbecker@ckcap.com.


Press Releases 2011

DECEMBER 2011 – New Britain Anesthesia, P.C. has been acquired by NAPA Management Services Corporation a portfolio company of Moelis Capital Partners

 
December 2011, Hartford County, Connecticut – Cross Keys Capital is pleased to announce that Hartford County, Connecticut-based New Britain Anesthesia, P.C. has been acquired by NAPA Management Services Corporation a portfolio company of Moelis Capital Partners. Cross Keys Capital acted as the exclusive financial advisor to the Partners of New Britain Anesthesia, P.C. The transaction closed on December 19, 2011.
 
New Britain Anesthesia, P.C.
New Britain Anesthesia, P.C. is an anesthesiology practice located in Central Connecticut, based in New Britain. New Britain Anesthesia is comprised of 15 physicians and 22 group-employed Certified Registered Nurse Anesthetists (“CRNAs”). This Anesthesia Care Team (“ACT”) is the exclusive anesthesia provider at the 414-bed Hospital of Central Connecticut and provides service at 22 anesthetizing locations on a daily basis, with an annual volume exceeding 25,000 cases.
 
NAPA Management Services Corporation
NAPA Management Services Corporation (“NMSC”) is a leading provider of anesthesia and practice management services that partners with physician group, hospital and health system clients to enhance their anesthesia programs and operating room productivity from both a clinical and financial perspective. NMSC is headquartered in Melville, NY.
 
Moelis Capital Partners
Moelis Capital Partners (“MCP”) is a middle market private equity firm founded in 2007 in connection with the formation of Moelis & Company, a global investment bank. The firm manages over $700 million of committed private equity capital and a $1.2 billion private equity co-investment program and target growth equity and control buyouts requiring equity investments of $25 to $75 million. MCP’s investment professionals possess decades of private equity experience and collectively have invested in 150 companies while serving on 50 boards. MCP is a thematic, growth-oriented investor and specializes in the business services, consumer, financial services, healthcare services, industrial and telecom industries. MCP is based in New York.
 

FEBRUARY 2011 – Applied Global Technologies has been acquired by Rock Hill Capital Group

 
Fort Lauderdale, Florida – Cross Keys Capital is pleased to announce that Rock Hill Capital Group (“Rock Hill”), a Texas-based private equity group has acquired Applied Global Technologies, Inc. Based in Rockledge, Florida, Applied Global Technologies is known as one of the leading videoconferencing service and technology providers for Fortune 500 companies, Emergency Response, Federal/Department of Defense, State Agencies, and Education. The transaction closed on December 16, 2010.
 
Cross Keys Capital acted as the exclusive financial advisor to the Shareholders of Applied Global Technologies. “We were very impressed with Cross Key’s coverage of the investment community that had an interest in AGT. From the beginning of the transaction, spearheaded by Bob Barrett and David Burns, until closing we found the process to be very professionally executed by the Cross Keys team, and we would strongly recommend them,” stated Michael Valletutti, Chairman and CEO of Applied Global Technologies.
 
Applied Global Technologies, Inc.
Applied Global Technologies, Inc. is a leading provider in the videoconferencing managed services space with offices in Rockledge, FL, Kennesaw, GA and Chantilly, VA. Founded in 1993 by two Georgia Tech engineering students, the Company has developed unique capabilities for integrating high-end videoconferencing systems. AGT integrates highly-complex, multimillion dollar, projects for Fortune 500 companies, military organizations and state/federal agencies. The Company has developed its own line of award-winning videoconferencing equipment and provides video conferencing services through PerfectMeetingsTM Managed Video which allows customers to connect group video systems and desktop users at cost effective pricing.
 
Rock Hill Capital Group
Rock Hill Capital Group is a private equity fund that focuses on completing Recapitalizations, Management Buyouts, and Financial Restructurings by making equity investments in small to middle-market companies. Rock Hill prefers to make investments in companies with enterprise values up to $75 million that are located in the Southern-half of the United States. Rock Hill intends to partner with strong entrepreneurial managers who are in need of capital and management expertise to assist them in the continued expansion and growth of their business. Rock Hill’s team of investment professionals is uniquely qualified to assist management at various stages of the growth cycle in achieving their strategic goals and objectives.
 

JULY 2011 – Pinnacle Anesthesia, PL acquired by American Anesthesiology, a subsidiary of MEDNAX, Inc.

 
July 2011, Palm Beach County, Florida – Cross Keys Capital is pleased to announce that Palm Beach County, Florida-based Pinnacle Anesthesia, PL has been acquired by American Anesthesiology, a subsidiary of Sunrise, Florida-based MEDNAX, Inc. (NYSE: MD). Cross Keys Capital acted as the exclusive financial advisor to the Partners of Pinnacle Anesthesia, PL. Dr. Steve Edbril, Managing Partner of Pinnacle Anesthesia, stated “Bill Britton and the entire team at Cross Keys Capital were instrumental in allowing us to fulfill our goals. Their industry knowledge and guidance were invaluable in helping us sort through the various strategic options that were available to us, and in identifying the right partner for our group. Our practice is joining American Anesthesiology because of our shared focus on providing superior clinical care and the best possible service to help ensure the satisfaction of our hospitals and all of our patients.” The transaction closed on July 26, 2011.
 
Pinnacle Anesthesia, PL
Pinnacle Anesthesia, PL is the exclusive provider of anesthesia services at the 493-bed Delray Medical Center and at the 195-bed West Boca Medical Center. The group also provides anesthesia services at five office-based locations in Boca Raton and Boynton Beach, FL. Annual anesthesia volume at the practice exceeds 20,000 cases. The physician group practice consists of 15 anesthesiologists, who practice as part of a care team model that includes 16 group-employed certified registered nurse anesthetists (CRNAs).
 
MEDNAX, Inc.
MEDNAX, Inc. is a national medical group that comprises the nation’s leading provider of neonatal, maternal-fetal and pediatric physician subspecialty services as well as anesthesia services. Pediatrix Medical Group, a unit of MEDNAX, was founded in 1979 and now includes neonatal physicians who provide services at more than 300 neonatal intensive care units, who collaborate with affiliated maternal-fetal medicine, pediatric cardiology and pediatric critical care physician subspecialists to provide a clinical care continuum. In 2007, the Company expanded into anesthesia services. Today, American Anesthesiology includes more than 750 anesthesiologists and advanced practitioners. MEDNAX, through its affiliated professional corporations, employs more than 1,675 physicians in 33 states and Puerto Rico.
 

JUNE 2011 – Cross Keys Capital Advises Express Dental Care, LLC through a sale to One Call Medical, Inc.

Tampa, Florida – Cross Keys Capital has advised Express Dental Care, LLC, the first and only national dental network that addresses the specific needs of the workers’ compensation, auto, and liability industries, through a sale to One Call Medical, Inc. (“OCM”), a portfolio company of Odyssey Investment Partners, LLC.
 
OCM is the nation’s leading provider of diagnostic imaging scheduling and radiology network management services to the workers’ compensation industry, with a growing presence in the group health marketplace. OCM adds Express Dental’s network to its portfolio of Claims-related Specialty Services. This acquisition furthers One Call Medical’s strategy to provide claims professionals with a portfolio of value-added specialty services that increase the ease and efficiency with which they handle claims.
 
“Cross Keys Capital played an indispensible role in the sale of my company, Express Dental Care. David Burns’ transactional experience within the Worker’s Compensation industry and professionalism were two of the driving factors that lead to a successful transaction. Cross Keys Capital helped me achieve my goal of selling my company and I could not be more thrilled to be partners with One Call Medical,” commented Stacey Whidden, President and CEO of Express Dental Care.
 
“Both of our organizations, Express Dental Care and One Call Medical, are extremely well aligned in terms of our mission and values. We are both dedicated to maintaining a network of quality providers; our care coordination and service models are based on prompt response time, optimal efficiency, and a high level of customer service and satisfaction. Ultimately, our services lead to quality care for injured claimants, so they can get back to work quickly.” added Stacey.
 
About Express Dental Care, LLC
Based in Tampa, Florida, Express Dental Care offers an array of ancillary services for adjusters and case managers. Further, the company coordinates dental services for self-insured employers, insurance carriers, managed care organizations, TPAs, and other claims professionals. It serves workers’ compensation, auto, and liability claims industries. Express Dental Care (www.expresshealthservices.com) will continue to operate under its current marketing brand and sales and service delivery systems.
 
About One Call Medical, Inc.
One Call Medical, Inc., the nation’s leading provider of specialty services to the insurance industry, has a “smart partner” approach in delivering its suite of easy-to-use, efficient, and cost-effective ancillary services that help claims professionals to achieve superior outcomes. OCM enables injured claimants and insurance payers to get the best quality and value for diagnostic scans and electrodiagnostic testing—the building blocks for successful treatment plans and optimal return-to-work results. Through its STOPS subsidiary, the company provides transportation and language translation services, required by today’s increasingly diverse claimant population. OCM’s customers include the nation’s leading insurance companies, third-party administrators, payers, and self-insured employers. More information about One Call Medical can be found at www.onecallmedical.com.


Press Releases 2010

DECEMBER 2010 – Cross Keys Capital Named as a Finalist for Lower Middle Market Deal of the Year

 
Fort Lauderdale, FL (December 7, 2010) – We are pleased to announce that Cross Keys Capital has been selected as a finalist in one of the most prestigious categories in this years’ M&A Advisors annual awards. The acquisition of Safety Tubs, LLC (“Safety Tubs”) by American Standard Brands is a finalist for:
 
Lower Middle Market Deal of the Year ($30 to $50 million)
 
Based in Grand Prairie, Texas, Safety Tubs specializes in the design and manufacturing of a unique line of walk-in bath tubs for individuals with limited mobility. American Standard Brands, a portfolio company of Sun Capital Partners, completed the acquisition of Safety Tubs in July 2010.
 
“It is an honor to recognize the achievements and accomplishments of Cross Keys Capital’s services in the strategic sale of Safety Tubs,” said Roger Aguinaldo, CEO, The M&A Advisor. “In 2010, despite the continued challenging economic conditions, Cross Keys Capital has demonstrated that perseverance and performance lead to success in this market.”
 
Cross Keys Capital led a targeted marketing process focusing on the key strategic and financial buyers. CKC aided in the letter of intent negotiations and successfully carried out a large portion of the due diligence responsibilities, which limited the impact on the everyday business operations.
 
“This acquisition represents an exciting opportunity for American Standard Brands to expand our capabilities and technology in an attractive segment where we see high demand from both consumers and commercial businesses,” said Donald C. Devine, President and CEO of American Standard Brands.
 
The award winners will be judged by an independent panel and will be revealed on December 14, 2010 at the 9th Annual M&A Awards Gala and Summit hosted by The M&A Advisor in New York City.
 
For more information, please contact Rick Becker of Cross Keys Capital at 954-779-3135.
 
About Cross Keys Capital
Cross Keys Capital (www.crosskeyscapital.com) is a leading investment banking firm dedicated to providing superior merger and acquisition advisory services to middle-market companies, entrepreneurs and investors.
 
With offices in Ft. Lauderdale, Chicago, Tampa, Baltimore, and Philadelphia, we bring the highest level of professionalism and expertise to each deal. Our Principals are industry veterans who have worked at leading investment banks, such as Goldman Sachs, Morgan Stanley and Wachovia Securities. Our extensive investment banking experience helps us understand each client’s business and create customized solutions that meet the shareholders’ goals and objectives. The Senior Bankers at Cross Keys Capital actively maintain relationships with an expansive network of financial institutions and strategic partners to help maximize the shareholders’ value. We have the expertise, resources and relationships that ensure our clients’ success.
 
The M&A Advisor
Since 1998, The M&A Advisor has been the preeminent organization facilitating connections and recognizing achievement in the top performers of the M&A, turnaround and financing industries through its leading Awards, Summits, newsletters, social network, research and publishing, and business development services. For more information, go to www.maadvisor.com.
 

JULY 2010 – Cross Keys Capital advises Safety Tubs, LLC on its strategic sale to American Standard

 
Ft. Lauderdale, Florida – Cross Keys Capital, LLC is pleased to announce the sale of Safety Tubs, LLC to American Standard Brands, a portfolio company of Sun Capital Partners, Inc. The transaction closed on July 22, 2010 and Cross Keys Capital acted as the exclusive advisor to Grand Prairie, Texas-based Safety Tubs.
 
Safety Tubs specializes in the design and manufacturing of walk-in bathtubs for limited mobility individuals. Individuals with limited mobility, including the elderly, obese and disabled population, are the prime target for the Safety Tubs’ product lines. Safety Tubs is the second–largest manufacturer and supplier of these products, which is one of the fastest growing segments of the North American plumbing market.
 
Known for the quality of its products and innovative design and engineering, Safety Tubs is focused on improving the bathing experience for individuals that have difficulty getting in and out of the bathtub. Its products have been featured on national television channels, including HGTC and ABC’s Extreme Makeover: Home Edition, and Safety Tubs’ products have also received several prestigious awards including the “Award for Design Excellence” by Design Journal for three consecutive years, “Most Valuable Product for Building Industry Professionals” by Building Products Magazine and the “Innovative Product Award” from Kitchen and Bath Business Magazine.
 
“Cross Keys Capital played an indispensible role in assisting us throughout what amounted to a tricky and complicated transaction,” stated Rob Buete, CEO of Safety Tubs. “Rick Becker and his team presented us with multiple acceptable offers from a variety of strategic and financial suitors, culminating in a successful transaction with lots of upside from American Standard.”
 
“This acquisition represents an exciting opportunity for American Standard Brands to expand our capabilities and technology in an attractive segment where we see high demand from both consumers and commercial businesses,” said Donald C. Devine, President and CEO of American Standard Brands.
 
American Standard Brands is a leading North American manufacturer of a wide range of high-quality kitchen and bath products, including faucets, fixtures, furniture, vitreous china fixtures, cast iron sinks, whirlpool tubs, and other related products. The company currently serves both the residential and commercial markets; employs more than 5,000 people in the United States, Canada, and Mexico; and markets products under the American Standard®, Crane Plumbing®, Eljer®, Porcher®, Jado®, and Fiat® brands. American Standard Brands is an affiliated portfolio company of Sun Capital Partners.
 

MARCH 2010 – Cross Keys Capital advises Mason Dixon Energy through its sale to Hudson Ferry Capital

 
Ft. Lauderdale, Florida – Cross Keys Capital is pleased to announce that Mason Dixon Energy has been acquired by Hudson Ferry Capital. Cross Keys Capital acted as the exclusive financial advisor to Mason Dixon Energy and the transaction was led by Managing Director Rick Becker. Mason Dixon Energy (“MDE”), with headquarters in Bridgeport, WV, is the largest provider of land services to oil and gas companies east of the Mississippi. MDE provides the following land services for its clients in the exploration and production, pipeline and electrical power distribution industries: acquisition of leases, surface rights and rights of way as well as related title research, title abstracting and title curative services. Hudson Ferry Capital is a New York-based private equity firm that specializes in investing in lower middle market companies.
 
“Cross Keys Capital did a fantastic job of advising and leading Mason Dixon Energy’s shareholders through all aspects of the transaction. Rick Becker and his talented team of associates demonstrated professionalism and expertise in identifying potential financial partners,” said Greg Zerkel, Chairman of the Board of Mason Dixon Energy. “The Cross Keys team remained resilient and committed throughout the entire process. Cross Keys was a great investment banking fit for MDE. Mason Dixon’s shareholders were thrilled to have a financial partner that could bring more than just capital to our transaction with Hudson Ferry Capital.”
 
The investment also marks the promotion of Asa Bowers, formerly Vice President, to President of MDE. In this role he will be responsible for the day-to-day operations of the Company. Greg Zerkel, founder, has assumed the role of Chairman of the Board where he will focus a significant portion of his time on business development and corporate growth opportunities. The remainder of the management team at MDE will continue in their existing roles.
 

MAY 2010 – Cross Keys Capital advises STOPS on its strategic sale to One Call Medical, Inc.

 
Ft. Lauderdale, Florida – Cross Keys Capital, LLC is pleased to announce the sale of Specialized Transportation for Outpatient Services, Inc. (STOPS) to One Call Medical, Inc. (OCM), a portfolio company of Odyssey Investment Partners, LLC. The transaction closed on June 1, 2010 and Cross Keys Capital acted as the exclusive advisor to Titusville, Florida-based STOPS.
 
STOPS is a national leader in high quality transportation and interpretation services to the workers’ compensation marketplace. STOPS is recognized by clients as consistently providing highly reliable services that make claims adjusters more efficient in their claims handling, as evidenced by its 99.5% success rate in completing transportation of injured workers to their medical appointments. The firm also provides comprehensive translation services, which are increasingly in demand as the American workforce becomes more diverse, as well as court reporting and accessibility services.
 
“I was tremendously pleased with the work of Cross Keys Capital. From the start, they demonstrated a true commitment to clearly understand our expectations and goals,” stated Robert Cook, CEO and founder of STOPS regarding Cross Keys Capital. “David Burns and his team were in the trenches side by side with us on a daily basis during the most critically important moments of the process, and Cross Keys provided us with the thoughtful, technical advice that we needed. Their approach was tactfully and intelligently focused. The quality of the advice they provided us was outstanding.”
 
“One Call Medical is the best partner to support our efforts in expanding the STOPS franchise nationally,” said Robert Cook. “We share a commitment to get injured workers the treatment they need to return to work, as quickly and safely as possible. Based on our superior service delivery models, the combination of STOPS with One Call Medical makes this commitment a reality.”
 
One Call Medical, Inc., the leading specialized Preferred Provider Organization, offers a nationwide network of fully credentialed high quality facilities and reduced cost for radiology and neurodiagnostic services. One Call Medical’s network includes coverage in all major metropolitan areas across all 50 states. OCM customers realize significant cost savings, receive exceptional scheduling and medical report turnaround services and are confident in knowing that their patients obtain the best quality diagnostic testing in credentialed facilities. OCM’s customers include the nation’s leading workers’ compensation and group health insurers, third-party administrators, as well as self-insured employers.
 

NOVEMBER 2010 – NitroFill, Inc. has been acquired by Crystal Ridge Partners

 
Fort Lauderdale, Florida – Cross Keys Capital is pleased to announce that Pompano Beach, Florida-based NitroFill, Inc. has been acquired by Maplewood, New Jersey-based private equity group, Crystal Ridge Partners through their second fund, Crystal Ridge Partners Fund II, LLC. Cross Keys Capital acted as the exclusive financial advisor to the Shareholders of NitroFill, Inc.
 
NitroFill, Inc.
NitroFill, Inc. produces nitrogen tire inflation products, including a generator that produces nitrogen from the air using proprietary technologies. It also provides tire repair and replacement coverage, emergency towing and roadside assistance services, and CRM products for automobile service centers. NitroFill, Inc. serves companies, governmental organizations, and military installations in the United States and internationally. The company offers its product through dealers. NitroFill, Inc. was founded in 2005 and is based in Pompano Beach, Florida.
 
Crystal Ridge Partners
Crystal Ridge Partners is a private equity firm that specializing in investments in middle market companies. The firm usually engages in management buyouts, recapitalizations, and later-stage growth equity transactions. It Seeks to invest in companies in manufacturing, value added distribution, consumer products, traditional media, healthcare services, financial services, and business services industries. The firm invests in companies headquartered in Eastern United States and Canada. It prefers to make investments between $3 million and $10 million in companies which generally have $10 million to $100 million in sales and $2 million to $10 million in EBITDA. The firm typically will participate as a control investor or as a minority investor. Crystal Ridge Partners was founded by Mr. Donald J. Hofmann and Mr. Jack Baron and is headquartered in Maplewood, New Jersey.
 

OCTOBER 2010 – Navicus, LLC acquired by Pinkerton Consulting & Investigations, Inc., a subsidiary of Securitas AB (OM: SECU B)

 
Fort Lauderdale, Florida – Cross Keys Capital, LLC is pleased to announce the sale of Navicus, LLC to Pinkerton Consulting & Investigations, Inc., a subsidiary of Securitas AB (OM:SECU B). Cross Keys Capital acted as the exclusive financial advisor to Navicus, LLC. The transaction closed on September 30, 2010 and no financial details were disclosed.
 
Navicus, LLC
Based in Boca Raton, Florida, Navicus operates through two divisions: Employment Screening Services, and Talent Management Software-as-a-Service. The Employment Screening Services division provides candidate background checks, drug testing, and assessments. The Talent Management Software division offers a proprietary software suite developed by Navicus for employers who want fast, cost‐effective, and compliant solutions. Together, Navicus is a “one-stop shop” for sourcing, screening, tracking, selecting, on-boarding, and performance monitoring of employees. Since its founding, Navicus has shown outstanding growth having grown revenues over 400% from 2003 to 2006 earning it Inc. Magazine’s prestigious ‘5,000 Fastest Growing Companies in America’ award for 2006-2010. Following the transaction, Navicus will continue to operate under the direction of Navicus’ CEO & Founder, Jesse Berger.
 
“Cross Keys Capital ran a very professional process and provided valuable guidance and advice throughout the transaction process” stated Jesse Berger, CEO & Founder of Navicus. “Cross Keys understood our business, our shareholders’ objectives and worked extremely hard to structure a meaningful transaction with a great partner that will enable and position the company to continue to grow and take advantage of opportunities in the marketplace”. Bill Britton, Managing Director and Co-Founder of Cross Keys Capital commented that “Jesse has built an outstanding company which will only continue to grow and be enhanced by the new partnership with Pinkerton. Jesse’s solid reputation and understanding of the Human Resources Services industry allowed us to run a tailored auction process where Navicus was courted by many strong suitors.”
 
Pinkerton Consulting & Investigations, Inc.
Pinkerton offers security consulting services, corporate investigations, undercover operations, computer forensics and electronic discovery, intellectual property protection, pre-employment screening, protective services, crisis management, supply chain security, homeland security, C-TPAT, e-learning, and uniformed services. The company was formerly known as Pinkerton’s National Detective Agency. Pinkerton Consulting & Investigations was founded in 1850 and is based in Parsippany, New Jersey. It has additional offices in North America, Central America, South America, Europe, and Asia. Pinkerton Consulting & Investigations, Inc. operates as a subsidiary of Securitas Security Services USA, Inc.
 
Securitas AB
Securitas is an $8.3 billion global security company with over 260,000 employees throughout 40 countries in North America, Europe, Latin America, the Middle East, Asia and Africa. The global market share of the outsourced security services market within the Securitas Group is approximately 11 percent. The company was founded in 1934 and is headquartered in Stockholm, Sweden.
 
Managing Director David Burns Co-Publishes “42 Rules for 24-Hour Success on LinkedIn”
Cross Keys Capital would like to announce that Managing Director, David Burns, has co-authored a book with Chris Muccio & Peggy Murrah,
 
“42 Rules for 24 Hour Success on LinkedIn”
 
The book was recently published and on Thursday, January 22nd, we are hosting a one-day Amazon book launch and the book will be available for purchase at the following link:
 
www.LinkToProsper.com/amazon
 
Cross Keys Capital continues to be active across all sectors of the merger and acquisition market with a strong focus on technology and the Social Networking and Social Media space. Certainly the speed at which communication is occurring demands that we cultivate contacts and enhance relationships, even while we are sleeping. However we feel from a business standpoint, tools like LinkedIn are either underutilized or not utilized at all. Most importantly, for those that are interested in utilizing sites like LinkedIn, we felt there really wasn’t an easy option to turn to for education.
 
Thus, Chris Peggy and I decided to write a very user-friendly book that addressed what we believed was the main challenge of LinkedIn – business people want to tap into its power, but really aren’t sure how.
 
Clearly, we are all time constrained, but this is a fairly quick, simple to read book that allows the reader to make the most out of their LinkedIn endeavors. As a further benefit, we even offer a free downloadable workbook that helps increase the effectiveness of your LinkedIn experience by implementing what you’ve read in the book.
 
I appreciate all your support!
 
Best Regards,
 
David C. Burns
Managing Director
Cross Keys Capital, LLC
200 S. Andrews Avenue
Suite 500
Ft. Lauderdale, FL 33301
954.779.2600 Ext 202
561.306.2935 M
954.779.2629 F
dburns@ckcap.com
www.crosskeyscapital.com
http://www.linkedin.com/in/davidcburns


Press Releases 2009

September, 2009 – Cross Keys Capital advises to Presealed Systems

 
Rockledge, Florida – Cross Keys Capital is pleased to announce its recent role as advisor to Presealed Systems, HydroFlame. Presealed was acquired by Securus, Inc. (Hubbard Enterprises, HOLDRITE®) for an undisclosed amount. Since 1999, Presealed has manufactured and assembled cast-in-place sleeves for multi-level commercial buildings. The Company utilizes patented technology that combats water damage, mold, and fire.
 
Dan Beadle, HOLDRITE’s CEO stated, “The addition of the HydroFlame brand name provides an excellent strategic opportunity for our further expansion. HOLDRITE® is committed to bringing new technology and labor saving products to our clients while improving the overall quality of their projects. We have already added over a dozen new products this year and there are more on the way.”
 
Cross Keys Capital served as the exclusive financial advisor to Presealed Systems. CKC helped the company navigate through several challenging issues to successfully maximize shareholder value at closing, via the negotiation of an all-cash, asset sale transaction.
 
ABOUT HUBBARD ENTERPRISES/HOLDRITE®
Since the introduction of the first HOLDRITE® Copper-bonded™ bracket over 27 years ago, Hubbard Enterprises/HOLDRITE® has become a leading manufacturer for the building industry. HOLDRITE® has developed an unparalleled reputation for providing engineered solutions that are held to the highest standards of quality, innovation, and affordability. The combination of strong executive leadership and dedicated, skilled employees has led to the receipt of multiple awards for workplace excellence.
 
HOLDRITE® is an industry leader offering solutions for support and alignment, noise and vibration isolation, and water heater and equipment support. HOLDRITE® also provides value-added, no cost VIP services that include specification and submittal assistance and custom detail application pages.
 
HOLDRITE® products generate time and cost savings for their clients, which include residential and commercial mechanical and plumbing contractors, wholesalers, and engineers. Applications span single-family and multi-family housing, residential towers, healthcare facilities, corporations, casinos, major hotel chains, and sports stadiums. Regional distribution centers have been established to expedite delivery across the United States and Canada.
 

August, 2009 – Cross Keys Capital is pleased to announce its recent role as financial advisor to Max Properties, LLC

 
Fort Lauderdale, Florida – Cross Keys Capital is pleased to announce its recent role as financial advisor to Max Properties, LLC. Cross Keys was responsible for providing strategic advisory services and arranging financing with Regent Bank for Max Properties, LLC’s President and Owner, Goran Dragoslavic.
 
“My relationship with Cross Keys turned into one of the most positive assets for my business. They were able to grasp my vision for potential growth for Max Properties, LLC that is presenting itself in this economy, make introductions and open doors at a senior level of Regent. Cross Keys’ counsel and straightforward advice helped secure an exceptionally quick closing. I am pleased Bill Britton recognized my needs and was able to introduce us to a local bank who could quickly understand our business potential and who we now see as a great long term partner.” commented Goran Dragoslavic, President of Max Properties.
 
Headquartered in Fort Lauderdale, Florida, Max Properties, LLC purchases, renovates and rents single family and multifamily residences and apartments, with a focus on the Section Eight marketplace. Goran is a Board Member and Integration Chair of the South Florida Entrepreneur Organization, of which, Cross Keys Capital is a Corporate Sponsor.
 
About Regent Bank
Regent Bank is known as a premier community bank in South Florida. Regent has also established a tradition of service to the community. The Bank attracts customers who share the belief that their bank should be an integral part of community growth and prosperity. Regent supports worthwhile efforts of community organizations, educational institutions and youth activities. The Bank and its employees have built a business on the tradition of service and have grown to be important members of the communities in which they serve by investing in the hopes and dreams of those communities.
 
About the Entrepreneur’s Organization (EO)
The Entrepreneurs’ Organization (EO) – for entrepreneurs only – is a dynamic, global network of more than 7,300 business owners in 42 countries. Founded in 1987 by a group of entrepreneurs, EO is the catalyst that enables entrepreneurs to learn and grow from each other, leading to greater business success and an enriched personal life. The goal is to build the world’s most influential community of entrepreneurs. The South Florida EO Chapter is the fastest growing chapter globally, with over 100 members, generating over $1 Billion in revenue.
 

July, 2009 – Cross Keys Capital announces the sale of Neat Solutions to Crown Crafts

 
Huntersville, North Carolina – Cross Keys Capital is pleased to announce the sale of Neat Solutions, Inc., to Crown Crafts, Inc. (NasdaqCM: CRWS). Cross Keys Capital acted as the exclusive sell-side financial advisor to Neat Solutions, Inc., the privately-held developer of the Table Topper®, Stay-in-Place Mat® and other products.
 
“Using Cross Keys Capital was an excellent decision for our company. The firm’s M&A expertise, strategy and knowledge of the consumer goods industry were tremendously valuable and enabled us to achieve a very successful outcome for our shareholders,” commented Jim Beaty, President of Neat Solutions, Inc.
 
Headquartered in Huntersville, North Carolina, Neat Solutions manufactures and distributes a distinctively unique and innovative line of baby gear. Started in 1995, Neat Solutions, Inc. offers its customers a portfolio of products which includes the Table Topper®, Potty Topper® toilet seat cover, diaper changing pads, disposable bibs, floor mats, car seat covers and burp cloths, all of which provide absorbent mess protection at home and away.
 
About Crown Crafts, Inc.
Crown Crafts, Inc. designs, markets and distributes infant and toddler consumer products, including bedding, blankets, bibs, bath items and accessories. Its operating subsidiaries include Hamco, Inc. in Louisiana and Crown Crafts Infant Products, Inc. in California. Crown Crafts is America’s largest distributor of infant bedding, bibs and bath items. The Company’s products include licensed and branded collections as well as exclusive private label programs for certain of its customers.
 

April, 2009 – Cross Keys Capital announces the sale of Anvil America to Vollrath

 
ASHEVILLE, NC– Cross Keys Capital is pleased to announce the sale of Anvil America, Inc., to The Vollrath Company, LLC. Cross Keys Capital acted as the exclusive sell-side financial advisor to Anvil America, Inc., a leading manufacturer and distributor of industrial food service equipment. The transaction closed in April of 2009 and was executed by Bill Britton and his team at Cross Keys Capital.
 
“Bill Britton and his colleagues at Cross Keys Capital did a tremendous job of helping us navigate through the intense negotiations and complex financial and structural issues throughout the process. Cross Keys Capital is incredibly knowledgeable and their extensive deal experience played a critical role in helping to secure the transaction,” said Grant Henegan, founder and CEO of Anvil America. “Their role became increasingly important as the deal progressed and intensified. I was extremely impressed with their work ethic and dedication, and firmly believe that this deal never would have gotten done without their involvement. I would unquestionably recommend Cross Keys Capital.”
 
Headquartered in Asheville, North Carolina, Anvil America is a leading manufacturer and distributor of a wide range of food service equipment. Anvil America offers more than 90 food service equipment products to customers throughout the United States and Europe. Founded by Grant Henegan, in Ft. Lauderdale, Florida, Anvil America services a number of countertop equipment segments with a complete line of product offerings.
 
About The Vollrath Company
Based in Sheboygan, WI, The Vollrath Company, LLC manufactures and markets a range of kitchenware products to the food service industry and original equipment manufacturers. It provides buffets and tabletops, carts and kiosks, cookware, kitchen essentials, mobile equipment, steam table pans and accessories, and ware washing products, as well as warmers, merchandisers, inductions, and carriers. The Company serves chain restaurants, health care organizations, primary/secondary educational institutions, colleges/universities, lodging/resorts, supermarkets, and corrections. Vollrath offers its products through dealers in the United States and internationally.
 

February, 2009 – Cross Keys Capital announces the sale of HSA to AMETEK

 
DORAL, FL – Cross Keys Capital, LLC is pleased to announce the sale of High Standard Aviation, Inc. (“HSA”) to AMETEK, Inc., based in Paoli, PA. HSA is an FAA-certified aviation repair station which maintains, repairs, and overhauls IDGs, CSDs, starters, generators, fans, and hydraulic equipment for over 40 different commercial aircraft platforms. The Company boasts a client list of over 280 well-known airlines, freight carriers, OEMs, and distributors around the world, including the likes of Federal Express, A.J. Walter, Atlas Air, and Lufthansa.
 
Cross Keys Capital served as exclusive financial advisor to High Standard Aviation, successfully maximizing shareholder value at closing. The acquisition is expected to deliver immediate synergies to both parties, with AMETEK gaining a solid foothold in the South Florida and Latin American markets, and HSA benefiting from the strength and experience of a multi-billion dollar, world-class, corporate operation.
 
“High Standard Aviation broadens the global footprint of our aerospace maintenance, repair and overhaul (MRO) business. Coupled with other recent AMETEK MRO acquisitions and expansion activities, we now have a significant and growing presence in this attractive market,” comments Frank S. Hermance, AMETEK Chairman and Chief Executive Officer.
 
“We are extremely excited to be joining forces with AMETEK. HSA will benefit tremendously from AMETEK’s best-of-class practices and economies of scale, allowing HSA to focus all of its efforts on pure operational execution,” said HSA Founder & President Frank Villasante. Rick Becker, Managing Director at Cross Keys Capital added “HSA is a high-quality MRO with an exceptional management team headed by Frank Villasante. We are pleased to have represented such an outstanding company in these difficult credit markets.”
 

NOVEMBER 2009 – Cross Keys Capital advises Superior Uniform Group, Inc. (NASDAQ:SGC) in its acquisition of Blade Sportswear, Inc.

 
Seminole, Florida – Cross Keys Capital served as the exclusive financial advisor to the Seminole, Florida based Superior Uniform Group, Inc. (NASDAQ: SGC) in its strategic acquisition of Blade Sportswear, Inc. Founded in 1991, Blade is a privately held company that specializes in designing, manufacturing and distributing uniforms to major domestic restaurants and foodservice chains throughout the U.S. Blade’s award-winning image apparel is worn by some of the most prestigious brands in the foodservice industry.
 
“Having worked with Bill Britton over the last year, we have reviewed a number of potential acquisition targets together. Bill is absolutely relentless in his efforts to find good targets and in his pursuit of those targets once identified. The Cross Keys team demonstrated strong industry experience and provided valuable insights throughout the acquisition process. They handled the transaction in a professional, efficient manner from start to finish, adding value throughout. We have completed several deals with Cross Keys as our advisers, and are continuing to work with them to find additional acquisitions,” Commented, Gerald Benstock, Chairman of the Board, Superior Uniform Group.
 
Cross Keys worked with Superior to create an acquisition road map, which spelled out the strategic nature of its expansion plans, as well as the sequence and timing of the acquisition process. Cross Keys identified numerous companies on behalf of Superior and engaged the most promising targets. The identification process not only identified the appropriate targets, it also provided a head start on the strategic due diligence process. Cross Keys aided the acquirer from start to finish, from prospect meetings, to negotiations, and ultimately closing. Despite a volatile economic climate, Cross Keys successfully completed the transaction in a three month time period and under mutually beneficial terms.
 
“We have utilized Cross Keys as our advisers on several transactions including both buy-side and sell-side services. Bill Britton and his team have been tremendous assets for us in navigating through several difficult transactions and providing sound advice and solid execution. He has always kept our best interest at the forefront of the process and has never pushed us into a transaction that did not make sense for us,” added Andrew D. Demott, Jr., Chief Financial Officer, Superior Uniform Group.
 
Bill Britton, Managing Director at Cross Keys Capital added “Superior is a high-quality uniform company with an exceptional management team. We are pleased to have represented such an outstanding company in these difficult markets. The closing of this transaction significantly strengthens Superior’s presence in the quick service food marketplace and allows Superior’s management team to do what it does best – provide quality services to their customers and focus on expanding its market presence.”
 
ABOUT SUPERIOR UNIFORM GROUP, INC. (NASDAQ: SGC)
Superior Uniform Group, Inc., established in 1920, is one of America’s foremost providers of fine uniforms and image apparel. Superior manages award-winning apparel programs for major corporations. They are leaders in innovative uniform program designs, global manufacturing, and state-of-the-art distribution. Superior, through their subsidiary “The Office Gurus,” is also a near-shore premium provider of cost effective bilingual contact center and office solutions.
 
Superior’s financial strength and resources support a customer’s diverse needs while embracing a “Customer 1st, Every Time!” philosophy and culture. Their commitment to service, technology, quality and value-added benefits separates them from the competition in each of their seven primary markets: Healthcare, Hospitality, Food Service, Retail Employee I.D., Government Service, Private Security, and Rental Service.
 

JUNE 2009 – Cross Keys Capital advises Neat Solutions, Inc. through its sale to Crown Crafts, Inc. (NASDAQ:CRWS)

 
Huntersville, North Carolina – Cross Keys Capital is pleased to announce the sale of Neat Solutions, Inc., to Crown Crafts, Inc. (NasdaqCM: CRWS). Cross Keys Capital acted as the exclusive sell-side financial advisor to Neat Solutions, Inc., the privately-held developer of the Table Topper®, Stay-in-Place Mat® and other products.
 
“Using Cross Keys Capital was an excellent decision for our company. The firm’s M&A expertise, strategy and knowledge of the consumer goods industry were tremendously valuable and enabled us to achieve a very successful outcome for our shareholders,” commented Jim Beaty, President of Neat Solutions, Inc.
 
Headquartered in Huntersville, North Carolina, Neat Solutions manufactures and distributes a distinctively unique and innovative line of baby gear. Started in 1995, Neat Solutions, Inc. offers its customers a portfolio of products which includes the Table Topper®, Potty Topper® toilet seat cover, diaper changing pads, disposable bibs, floor mats, car seat covers and burp cloths, all of which provide absorbent mess protection at home and away.
 
About Crown Crafts, Inc.
Crown Crafts, Inc. designs, markets and distributes infant and toddler consumer products, including bedding, blankets, bibs, bath items and accessories. Its operating subsidiaries include Hamco, Inc. in Louisiana and Crown Crafts Infant Products, Inc. in California. Crown Crafts is America’s largest distributor of infant bedding, bibs and bath items. The Company’s products include licensed and branded collections as well as exclusive private label programs for certain of its customers.
 

APRIL 2009 – Cross Keys Capital announces the sale of Anvil America, Inc. to The Vollrath Company, LLC

 
ASHEVILLE, NC – Cross Keys Capital is pleased to announce the sale of Anvil America, Inc., to The Vollrath Company, LLC. Cross Keys Capital acted as the exclusive sell-side financial advisor to Anvil America, Inc., a leading manufacturer and distributor of industrial food service equipment. The transaction closed in April of 2009 and was executed by Bill Britton and his team at Cross Keys Capital.
 
“Bill Britton and his colleagues at Cross Keys Capital did a tremendous job of helping us navigate through the intense negotiations and complex financial and structural issues throughout the process. Cross Keys Capital is incredibly knowledgeable and their extensive deal experience played a critical role in helping to secure the transaction,” said Grant Henegan, founder and CEO of Anvil America. “Their role became increasingly important as the deal progressed and intensified. I was extremely impressed with their work ethic and dedication, and firmly believe that this deal never would have gotten done without their involvement. I would unquestionably recommend Cross Keys Capital.”
 
Headquartered in Asheville, North Carolina, Anvil America is a leading manufacturer and distributor of a wide range of food service equipment. Anvil America offers more than 90 food service equipment products to customers throughout the United States and Europe. Founded by Grant Henegan, in Ft. Lauderdale, Florida, Anvil America services a number of countertop equipment segments with a complete line of product offerings.
 
About The Vollrath Company
Based in Sheboygan, WI, The Vollrath Company, LLC manufactures and markets a range of kitchenware products to the food service industry and original equipment manufacturers. It provides buffets and tabletops, carts and kiosks, cookware, kitchen essentials, mobile equipment, steam table pans and accessories, and ware washing products, as well as warmers, merchandisers, inductions, and carriers. The Company serves chain restaurants, health care organizations, primary/secondary educational institutions, colleges/universities, lodging/resorts, supermarkets, and corrections. Vollrath offers its products through dealers in the United States and internationally.
 

APRIL 2009 – Cross Keys Capital advises High Standard Aviation (“HSA”) through a sale to AMETEK, Inc.

 
DORAL, FL – Cross Keys Capital, LLC is pleased to announce the sale of High Standard Aviation, Inc. (“HSA”) to AMETEK, Inc., based in Paoli, PA. HSA is an FAA-certified aviation repair station which maintains, repairs, and overhauls IDGs, CSDs, starters, generators, fans, and hydraulic equipment for over 40 different commercial aircraft platforms. The Company boasts a client list of over 280 well-known airlines, freight carriers, OEMs, and distributors around the world, including the likes of Federal Express, A.J. Walter, Atlas Air, and Lufthansa.
 
Cross Keys Capital served as exclusive financial advisor to High Standard Aviation, successfully maximizing shareholder value at closing via the negotiation of an all-cash, asset sale transaction. The acquisition is expected to deliver immediate synergies to both parties, with AMETEK gaining a solid foothold in the South Florida and Latin American markets, and HSA benefiting from the strength and experience of a multi-billion dollar, world-class, corporate operation.
 
“High Standard Aviation broadens the global footprint of our aerospace maintenance, repair and overhaul (MRO) business. Coupled with other recent AMETEK MRO acquisitions and expansion activities, we now have a significant and growing presence in this attractive market,” comments Frank S. Hermance, AMETEK Chairman and Chief Executive Officer.
 
“We are extremely excited to be joining forces with AMETEK. HSA will benefit tremendously from AMETEK’s best-of-class practices and economies of scale, allowing HSA to focus all of its efforts on pure operational execution,” said HSA Founder & President Frank Villasante. Rick Becker, Managing Director at Cross Keys Capital added “HSA is a high-quality MRO with an exceptional management team headed by Frank Villasante. We are pleased to have represented such an outstanding company in these difficult credit markets.”
 

SEPTEMBER 2009 – Cross Keys Capital advises Max Properties, LLC

 
Fort Lauderdale, Florida – Cross Keys Capital is pleased to announce its recent role as financial advisor to Max Properties, LLC. Cross Keys was responsible for providing advisory services to Max Properties, LLC’s President and Owner, Goran Dragoslavic.
 
“My relationship with Cross Keys turned into one of the most positive assets for my business. They were able to grasp my vision for potential growth for Max Properties, LLC that is presenting itself in this economy, make introductions and open doors. Cross Keys’ counsel and straightforward advice helped secure an exceptionally quick closing.” commented Goran Dragoslavic, President of Max Properties.
 
Headquartered in Fort Lauderdale, Florida, Max Properties, LLC purchases, renovates and rents single family and multifamily residences and apartments, with a focus on the Section Eight marketplace. Goran is a Board Member and Integration Chair of the South Florida Entrepreneur Organization, of which, Cross Keys Capital is a Corporate Sponsor.
 
About the Entrepreneur’s Organization (EO)
The Entrepreneurs’ Organization (EO) – for entrepreneurs only – is a dynamic, global network of more than 7,300 business owners in 42 countries. Founded in 1987 by a group of entrepreneurs, EO is the catalyst that enables entrepreneurs to learn and grow from each other, leading to greater business success and an enriched personal life. The goal is to build the world’s most influential community of entrepreneurs. The South Florida EO Chapter is the fastest growing chapter globally, with over 100 members, generating over $1 Billion in revenue.


Press Releases 2008

MARCH 2008 – Cross Keys Capital advises SMD Research, Inc. through a sale to RectorSeal Corporation

 
Cross Keys Capital is pleased to announce the sale of SMD Research, Inc. to RectorSeal Corporation. Founded in 1996 and headquartered in Coconut Creek, Florida, SMD Research is a leading manufacturer of air conditioning specialty products for condensate control.
 
To maximize value, Cross Keys Capital introduced the SMD opportunity to a select group of strategic buyers and financial investors in a managed sale process. The process yielded significant interest, which resulted in aggressive bidding from several interested buyers, and ultimately led to finding an acquiror with which the Company was unaware. A team from Cross Keys Capital, led by David Burns, served as exclusive financial advisor to SMD Research and structured and negotiated the transaction on behalf of the Company.
 

JULY 2008 – Cross Keys Capital advises Life Fitness Physical Therapy through its sale to US Physical Therapy

 
Cross Keys Capital is pleased to announce the formation of a growth-oriented partnership between Life Fitness Physical Therapy and US Physical Therapy, Inc. Established in 2000 and headquartered in Baltimore, MD, Life Fitness Physical Therapy is a ten center network of physical therapy facilities spread across the greater Baltimore Metropolitan Area.
 
As exclusive financial advisor to Life Fitness, a team led by Rick Becker engaged all of the nation’s major strategic physical therapy companies, leading to a highly effective qualification and selection process to select the right growth focused partner who provided a strong back-end, but would not be intrusive on the marketing and operations side of the business. In addition to negotiating and finalizing an optimal transaction structure, Cross Keys Capital crafted an appropriate, partnership to meet each of the existing four shareholders’ financial and personal goals.
 

OCTOBER 2008 – Cross Keys Capital advises Quality Transportation in its sale to Kuehne + Nagel Group

 
Cross Keys Capital is pleased to announce that it acted as exclusive financial advisor to Quality Transportation Services, Inc. in its sale to Kuehne + Nagel Group. Founded in 1987 and headquartered in Las Vegas, Quality Transportation is a leading international transportation and logistics firm in the FF&E industry with a specific focus on the hospitality and gaming sector.
 
Cross Keys Capital worked as the exclusive investment banker to Quality Transportation. A team led by Bill Britton and Rick Becker introduced Quality Transportation to both domestic and international potential suitors. Cross Keys Capital’s cross border experience in identifying and engaging foreign investors allowed for the sell-side engagement to be completed despite the challenging credit markets.
 
“I have a very complex business which is light on fixed assets but heavy on key critical relationships. Cross Keys took the time to fully understand my business before packaging it for sale to those for whom it would be most synergistic as an acquisition,” said Randy Gentz, President of Quality Transportation. “I am excited to be joining Kuehne + Nagel for the foreseeable future.”