Cleveland, Ohio (May 31, 2011) Emprise Partners announces that its client, The Chilcote Company has completed the sale of its Culver Art & Frame Co., Inc. subsidiary, to International Moulding Inc. of Birmingham, Alabama. Emprise Partners initiated this transaction and acted as the exclusive financial advisor to The Chilcote Company.
David Chilcote, Chairman of The Chilcote Company said "we had been in discussions with Emprise Partners regarding a potential buy-side engagement when the Board of Directors decided to take the Culver Art & Frame business to market. We asked Emprise Partners to represent us and Mathew Hanson made a concerted effort to complete this sale to a strategic buyer in a difficult economic environment."
Culver Art & Frame Co., Inc. (www.culverframe.com) is a regional distributor and manufacturer that sells to professional framers, custom frame shops, and photographers in Ohio, Indiana, Kentucky, Michigan, Pennsylvania, and West Virginia. Culver carries a large inventory of wood and metal mouldings, mat-boards, foam-boards, and ready-made frames. Culver also sells wedding albums, photographic packaging products, as well as other framing supplies. Located near Columbus, Ohio, Culver has been in business since 1900.
The Chilcote Company (www.tap-usa.com) founded in 1906, was the parent company to Taprell Loomis, D. Davis Kenny Co., Graphic Imaginations, and Enbee Plastics. Tap Packaging Solutions was established to consolidate The Chilcote Company's operating divisions and is committed to enhancing its customers' image by providing high quality packaging and presentation products. Headquartered in Cleveland, Ohio, it is an employee-owned company.
International Moulding Inc. (www.internationalmoulding.com) is committed to supplying its customers with the highest quality moulding from around the world, at the best possible price and with same day shipping guaranteed. International Moulding has over 1,500 mouldings in stock and over 10 million feet of inventory in its 200,000 square foot distribution center in Birmingham, Alabama.
Emprise Partners (www.emprisepartners.us) is a merchant-banking firm that provides buy-side representation to corporations, private-equity groups, and industry specific management teams in the lower middle market. As a financial partner, Emprise Partners provides both advice and capital for the acquisition and growth of manufacturing and value-added distribution businesses with proprietary products or defensible niche positions. Emprise Partners has completed over 50 buy-side transactions.