Company
Crystal Ridge Partners Acquires Cord Crafts
New Company a Leader in Artificial Botanicals for the Home Décor Market
Princeton, NJ – November 5, 2007...Crystal Ridge Partners (CRP) is pleased to announce that Cord Crafts Holdings, LLC (Cord Crafts) has acquired the assets of Cord Crafts, Inc., headquartered in Wharton, NJ, and its overseas partner, Sensational Silk (HK) Limited, based in Hong Kong. In this transaction, CRP partnered with Stuart Bryan, a highly accomplished CEO with over 20 years of experience leading middle-market companies. Mr. Bryan was named President & Chief Executive Officer of Cord Crafts at closing.
Cord Crafts is a leading supplier of permanent botanicals – pre-made, artificial plants, flowers, and greenery arrangements. For over 30 years, the company has designed, imported, and assembled its arrangements for sale to the North American home décor market. The company’s products are available at leading discount merchandisers, warehouse clubs, national craft store chains, and other specialty retailers.
The transaction provided liquidity to the company’s founder and retiring CEO, Peter Book, who will continue with Cord Crafts as an advisor and board member. In addition, Crystal Ridge Partners saw the opportunity to back a strong management team, led by Stuart Bryan, in an attractive industry.
According to Mr. Bryan, “Cord Crafts is a fundamentally sound business with great potential in a growing market. We expect to grow both the business and our strong position in the home décor market with the support of our employees and Crystal Ridge Partners.”
Commenting on the transaction, Mr. Book added, “This is great news for the company, our employees, and our customers. Everyone is excited to have Stuart Bryan on board and Crystal Ridge as a partner.”
Crystal Ridge Partners will continue to seek add-on acquisitions and investment opportunities in the artificial botanicals and home décor categories.
About Cord Crafts
Cord Crafts, headquartered in Wharton, NJ, is a leading supplier of permanent botanicals – pre-made, artificial plants, flowers, and greenery arrangements. For over 30 years, the Company has designed, imported, and assembled its arrangements for sale to the North American home décor market. The Company’s products are available at leading discount merchandisers, warehouse clubs, national craft store chains, and other specialty retailers. For more information, visit our website at www.cordcrafts.com.
About Crystal Ridge Partners
Crystal Ridge Partners (CRP) of Princeton, New Jersey, is an investor in lower-middle-market companies in the eastern half of the United States. Since its launch in 2005, CRP has focused on management buyouts and recapitalizations and has invested in six companies to date. Prior to founding CRP, the firm’s four investment professionals successfully completed over 60 private equity transactions.
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