Aug 02 2011
Edgeview Partners is pleased to announce the sale of MT Industries, Inc. (dba Sunless, Inc.) to The Riverside Company, a global private equity firm with 19 offices on four continents and more than $3 billion in assets under management. Edgeview Partners served as the exclusive financial advisor to Sunless and its shareholders, which included management, the Esping Family Office (EFO Holdings) and other investors.
Terms of the transaction, which closed on Friday, July 29, 2011, were not disclosed.
Sunless, headquartered in Macedonia, Ohio, is the world’s most comprehensive provider of ultraviolet (UV)-free spray tanning booths and handheld equipment, as well as UV‑free tanning solution and lotion products. The Company’s patent-protected offering, which includes the Mystic Tan, VersaSpa and Evolv brands, is highly sought after by consumers who seek an alternative to outdoor sunbathing or indoor UV tanning.
“The Edgeview team worked hand-in-hand with me and the management team to prepare the company for the sale process and provided valuable counsel and support throughout the entire process. We could not have asked for a better relationship with an advisor,” commented Scott Thomason, the president and chief executive of Sunless.
William “Bill” Esping of EFO Holdings stated, “Sunless was created through the merger of two businesses a little over two years ago, which formed the basis for a complex investment story. Edgeview took the time to understand the merged company and crafted comprehensive marketing materials that effectively described a compelling investment thesis and management’s growth strategy. Edgeview’s attention to detail, hands-on approach and process expertise enabled us to anticipate potential issues and drove a successful outcome for the shareholders.”
The Riverside Company is a global private equity firm focused on acquiring growing enterprises valued at up to $200 million. The firm partners with strong management teams and enhances its investments through acquisitions and organic growth. Since its founding in 1988, Riverside has invested in more than 250 transactions with a total enterprise value of more than $5.4 billion. The firm’s portfolio in North America, Europe and the Asia Pacific region includes more than 75 companies with roughly 14,000 employees. Riverside maintains $3.4 billion in assets under management, more than 195 professionals in 19 offices, and longstanding relationships with partner lenders. For more information, visit www.riversidecompany.com.
Securities products and services offered through Edgeview Capital Securities, LLC, a registered broker-dealer and FINRA/SIPC member firm and an affiliate of Edgeview Partners.
The Edgeview team will continue to provide best-in-class
advisory services to middle-market clients while offering
enhanced capabilities and global reach.
For more information, please read the press release.
We look forward to continue serving you.