6/25/10
Lenox Deal Honored at Turnaround Atlas Awards Dinner Lenox Deal Honored at Turnaround Atlas Awards Dinner
New York, NY, June 25, 2010 – Clarion Capital Partners, LLC is pleased to announce that Lenox Corporation was honored with two major awards at the Turnaround Atlas Awards in Chicago on June 18th. The Company won the Private Equity Turnaround Deal of the Year (under $100 million) and Clarion’s Managing Partner, Marc Utay, was honored with the Private Equity Turnaround Executive of the Year. Miller Buckfire & Co., LLC and Schulte Roth & Zabel LLP advised Clarion in its acquisition of Lenox.
Turnaround Atlas Awards is part of the M&A Atlas Awards, which annually recognizes outstanding performances for executing transactions, implementing turnaround strategies and financial work-outs.
In accepting the award, Marc Utay noted “We are delighted that Lenox was recognized by the Turnaround Atlas Awards. A year after Clarion’s purchase, Lenox has revamped its entire product line, introduced a number of award winning new designs and is debt free. The Company is well positioned to build on its 125 year heritage as an iconic American brand and continue its role as the leader in the US tabletop market.”
About Clarion
Founded in 1999, Clarion is a New York-based investment manager operating two primary business segments: Private Equity (launched in 1999) and Structured Credit (launched in 2018). Clarion’s private equity business seeks to make primarily control investments in a diversified portfolio of lower middle-market companies generating $7.5-30.0 million of EBITDA. Clarion focuses on growth companies in industries such as: Media, Entertainment & Technology; Financial Technology & Services; Business, Healthcare & Industrial Services; and Consumer. Clarion’s structured credit business focuses mostly on CLO equity and mezzanine investments, sourced both in the primary and secondary markets. The structured credit team manages traditional private funds and an insurance-dedicated fund. Additional information on Clarion can be found at www.clarion-capital.com.
About Lenox Corporation
Lenox Corporation is the market leader in high quality tabletop, giftware and collectible products sold under the Lenox, Dansk and Gorham brand names. The company sells its products through multiple channels including gift, specialty and department stores, the internet, and company-operated retail stores.
About Miller Buckfire & Co., LLC
Miller Buckfire is a New York-based investment bank that delivers strategic advice on complex financial issues including capital raising through the public markets or in privately-placed equity or debt transactions, restructuring, divestitures, acquisitions, and defense assignments. We address urgent issues with a single minded purpose: to develop and execute sustainable, lasting solutions that will lead to value creation.
About Schulte Roth & Zabel LLP
Schulte Roth & Zabel LLP is a full-service law firm with 450 attorneys and offices in New York, Washington, D.C., and London. As one of the leading law firms serving the financial services industry, the firm regularly advises clients on corporate and transactional matters, as well as providing counsel on securities regulatory compliance, enforcement, and investigative issues. The firm’s practices include business transactions, investment management, business reorganization, finance, litigation, real estate, tax, structured products, bank regulatory, intellectual property, employment and employee benefits, environmental law, and individual client services.