Because Blick just acquired Utrecht. The press release is on the jump.
April 1, 2013 – For Immediate Release
Blick Art Materials Acquires Utrecht Art Supplies from Topspin Partners LBO
Blick Art Materials, a multi-channel retailer with 39 locations, has purchased the stock of Utrecht Art Supplies, a 45-store multi-channel retailer. Both businesses are leading participants in the art supply industry.
Robert Buchsbaum, Chief Executive Officer of Blick Art Materials and leader of the newly-combined enterprise, spoke of the transaction, “The acquisition of Utrecht gives us a tremendous, well-established brand and greater geographic reach for our brick and mortar channel. We are very excited to welcome Utrecht employees and customers to the Blick team.”
Topspin Partners LBO Managing Director Steve Lebowitz was equally pleased with the transaction, stating, “We are glad to have achieved a successful exit for our investors and are proud of the business that Utrecht’s employees have helped to build. We are confident that Utrecht will be in good hands as part of the Blick family.”
Consensus Advisors acted as financial advisor to Utrecht.
About Blick Art Materials:
Founded in Galesburg, IL, in 1911, Blick Art Materials (www.dickblick.com) is one of the largest and oldest providers of art supplies in the United States, with 39 retail stores nationwide. Its products cater to the full spectrum of artists — from the youngest child ready to scribble with his or her first crayon to well-known, gallery-represented professionals. The company’s extensive selection, competitive prices and superior customer service make Blick the best choice for art educators, students, artists, architects, designers, hobbyists or anyone requiring quality art materials for work or pleasure. A long-time advocate of art education in the U.S., Blick also provides support of scholastic, collegiate and professional art shows, both financially and through a variety of materials that emphasize the benefits of art education. Blick also supports the communities in which it does business by sponsoring in-store events, local schools, art leagues and community groups across the country.
Utrecht Art Supplies was founded to give creative professionals the tools, materials and knowledge they need to make the next generation of great art. Their team of working professional artists has the practical knowledge and experience using a wide range of art materials and processes. Launched in 1949 as a canvas importer, today Utrecht Art Supplies serves an international customer base as a manufacturer and retailer. The company currently operates 45 retail locations, publishes an annual ‘big-book’ catalog (The Resource Guide) and maintains a web store (utrechtart.com), which features the industry’s first brand-neutral technical helpline, “Ask the Experts.”
Utrecht exclusively produces its own American-made lines of artists’ colors. The signature brand is made at the company’s Brooklyn, NY workshop by a team of skilled craftsmen, chemists and artists. Utrecht products have been classroom and studio staples for decades, routinely used and recommended by professional artists and educators. For more information about Utrecht Art Supplies and Utrecht Manufacturing Corporation, visit www.utrechtart.com.
Topspin Partners LBO is a Long Island, NY-based private equity fund that makes control investments in profitable and established lower middle-market businesses. The firm often invests in sectors such as consumer products, business services, food/beverage, retail, media and security. The team at Topspin LBO has considerable operational expertise and has partnered with management teams in building businesses of varying stages and sizes, both at Topspin and at prior firms. Additional information on Topspin LBO can be found at www.topspinlbo.com.