Pine Tree Equity Acquires FAST-FIX JEWELRY AND WATCH REPAIRS
MCLEAN, VA – November 8, 2012 – The McLean Group today announced that it acted as the exclusive mergers and acquisitions (M&A) investment banking advisor to FAST-FIX JEWELRY AND WATCH REPAIRS (FAST-FIX) in its sale to Pine Tree Equity, a Miami, FL-based private equity firm. Financial terms of the deal were not disclosed.
FAST-FIX is the world’s largest jewelry and watch repair franchise with more than 155 shopping mall-based locations in the US, UK, Canada and Ireland. Headquartered in Delray Beach, FL, the company was established in 1984 and began franchising in 1987.
Regarding this transaction, Jeff Settembrino, Managing Partner of Pine Tree Equity remarked, “Given Burt Yarkin’s expertise as both an advisor and operator in the franchising space, his assistance was invaluable in helping Pine Tree Equity bring the existing entrepreneurs and new management together. We are delighted to have the opportunity to work with such great, new owners and partners in order to accelerate the growth of the business.”
FAST-FIX’s CEO, Marvin Biltis commented, “Burt Yarkin and The McLean Group team were extremely efficient in locating several private equity groups and several extremely capable experts in mall-based retail franchising. They successfully paired a strong new management team with Pine Tree Equity and this combination was successful in not only acquiring our company, but ensuring its long term success.”
The McLean Group’s Franchise practice advised on this transaction.
ABOUT THE MCLEAN GROUP
The McLean Group is an investment bank providing M&A, business valuation and strategic consulting services to middle market businesses. Headquartered in Washington, DC’s technology, communications and government contracting corridor, it is among the largest independent middle market investment banks in the nation. The McLean Group serves domestic and international clients and has a broad resume of successfully consummated financial transactions.