Sullivan, Inc. Has Been Acquired by Fort Point Capital
HOUSTON, October 9, 2014 - GulfStar Group ("GulfStar") is pleased to announce the acquisition of Sullivan, Inc. ("Sullivans" or the "Company") by Fort Point Capital. GulfStar served as exclusive financial advisor to Sullivans throughout the transaction, which closed on September 25, 2014.
Founded in 1968 and headquartered in Sioux Falls, South Dakota, Sullivans is a recognized leader in the design, procurement, distribution and sale of seasonal and all-occasion home décor products that are sold principally to independent and specialty channel retail customers in the U.S. The Company's primary product lines include holiday and celebration decorations, permanent floral and foliage products, home décor items and accessories.
"We are very pleased with the outcome of this transaction and could not have selected a better partner than GulfStar to guide us and provide sound advice from the beginning of the process to the close," said Sullivans' President Bill Sullivan. "The Company has an extraordinarily bright future, and we are confident that this transaction will provide Sullivans' loyal and talented employees with numerous and exciting opportunities for product line expansion and long-term growth and value creation."
The GulfStar team included Managing Director Scott Winship, Senior Vice President Brian Lobo and Associate Caroline Incavo. "GulfStar is honored to have served the Sullivan family in this very important transaction," said Winship. "With over four decades of market leadership, Sullivans is the stand-out leader in the seasonal gift and home décor industry, and we look forward to its continued success under the experienced guidance of the Fort Point team."
About Fort Point Capital
Based in Boston, Massachusetts, Fort Point Capital is a private equity firm that invests in lower middle market, service-oriented companies in partnership with strong management teams.
About GulfStar Group
GulfStar is a leading middle market investment bank headquartered in Houston. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, and general corporate finance advisory services to companies with enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed more than 600 transactions in more than 30 states and 10 foreign countries across a variety of industries.
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