D.A. Davidson & Co. has served as exclusive financial advisor to Angelcare Holdings Inc. and its subsidiary, Sassy 14, LLC, in the sale of its Sassy®-branded development toy, feeding and baby care product line to Hamco, Inc., a wholly owned subsidiary of Crown Crafts, Inc., (NASDAQ-CM: CRWS). The transaction closed Friday, December 15, 2017.
The transaction will allow Crown Crafts to complement its core infant bedding and bibs business with one of the best-known developmental toy brands and demonstrates a commitment by management to pursue acquisitions that expand their product offerings and are accretive to earnings.
“We’ve been longtime admirers of the Sassy brand and are honored that Angelcare engaged us to find a buyer for the brand,” said Joe Schimmelpfennig, Managing Director of D.A. Davidson. “Susan Hinshaw and her team at Sassy have built an iconic developmental toy brand that has brought joy to countless families over the past 35 years. We are pleased to have advised Angelcare and Sassy on this transaction and are excited for their continued success as part of the Crown Crafts family.”
The transaction team was led by Joe Schimmelpfennig and Dan Friedman and demonstrates D.A. Davidson’s deep understanding of the infant and juvenile products category and longstanding relationships with the leading companies in the industry.
The D.A. Davidson team’s strong industry knowledge and relationships played a critical role in the success of this transaction.
-Sylvain Toutant, Executive Director of Angelcare
“We appreciate D.A. Davidson’s advice and efforts in closing the transaction and look forward to working with them again in the future,” Toutant said.
The transaction represents another successful closing for D.A. Davidson’s investment banking group. Since the start of 2015, members of D.A. Davidson’s Consumer investment banking team have advised on 34 completed transactions.
D.A. Davidson & Co.’s investment banking division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise and has extensive transaction experience serving middle market clients worldwide.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 and headquartered in Montana, with corporate offices in Denver, Los Angeles, Portland and Seattle, the company has more than 1,300 employees and offices in 24 states.
Subsidiaries include: D.A. Davidson & Co., the largest full-service investment firm headquartered in the Northwest, providing wealth management, investment banking, equity and fixed income capital markets services and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.
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