BGL Announces Sale of Nanotechnology Firm to One of the World's Leading Banknote Providers
February 10 2009
Brown Gibbons Lang & Company is pleased to announce the sale of Visual Physics, LLC, a subsidiary of Nanoventions Holdings, LLC, to Crane & Co., Inc. The terms of the transaction were not disclosed. Powell Goldstein served as legal counsel for Nanoventions in the sale of Visual Physics to Crane.
Visual Physics, based in Alpharetta, Georgia, is a manufacturer and supplier of micro-optic security films used for anti-counterfeiting and brand protection applications. The acquisition of Visual Physics gives Crane exclusive control and management of the Unison® family of technologies. The most well-known Unison technology is MOTION®, the micro-optic security technology that Crane sells for the protection of banknotes. Nanoventions and Crane, through its Crane Currency Division, pioneered the use of micro-optics in banknotes in 2006 with the introduction of the MOTION technology in Sweden. The central banks of the United States, Mexico, Sweden, Denmark, Paraguay, and other yet-to-be disclosed countries have selected MOTION as their primary security feature for both new banknote designs and upgraded banknotes. MOTION technology has been selected as the primary overt security feature on the new United States $100 banknote scheduled for release in 2010.
“After an extensive interview process, we engaged BGL as a result of their experience in running global M&A processes to maximize value for their clients. BGL’s well-established relationships with the global strategic and financial buyer communities enabled the firm to effectively and expediently market our Visual Physics subsidiary to a global audience that generated an exceptional outcome for the unit holders of Nanoventions,” commented Brian Martin, President and Chief Executive Officer of Nanoventions. “Additionally, I’m confident that the outstanding chemistry between our respective teams further contributed to the successful outcome.”
“This was an exciting transaction made even more challenging by the prevailing economic conditions. However, it is a tribute to the quality of the businesses that Crane and Visual Physics have developed that financing for the transaction was available. BGL did a fantastic job, running a very competitive process that yielded a great result. Powell Goldstein has served as counsel to Nanoventions since 2003 and has supported the Company in various capacities throughout the duration of the relationship,” noted Rick Miller, a Powell Goldstein partner and member of the Nanoventions Board of Managers.
BGL Managing Director & Principal, John Tilson commented, “BGL is very pleased to have worked with Nanoventions and Powell Goldstein on this transaction. Nanoventions and Visual Physics built a market changing suite of technologies for the currency and brand security market. UNISON represented a compelling strategic technology for Crane and other participants in the brand and currency protection markets. This transaction represents another successful outcome for BGL’s security, authentication, and brand protection practice.”
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company is a leading independent investment bank serving middle market companies and their owners throughout the U.S. and internationally. BGL’s professionals are experts in mergers & acquisitions, debt & equity placements, financial restructurings and valuations & financial opinions. BGL is the U.S. partner in Global M&A, the world’s leading partnership of independent middle market financial advisory firms focusing on cross-border transactions. For further information please contact John Tilson (312) 658-1600 or Mike Gibbons (216) 241-2800. Website:www.bglco.com
About Nanoventions Holdings, LLC
Formed in 2000, Nanoventions is a privately-held company based in Atlanta, Georgia. Nanoventions holds a suite of intellectual property and subsidiaries that combine innovative optical and non-optical microstructure mastering techniques with economic manufacturing methods to bring high quality solutions to many already established markets. Future applications of the company's technologies include: Life Sciences, Industrial Optical Films for Solar Applications, and Optical Computing and Networking. For more information, visit www.nanoventions.com or e-mail firstname.lastname@example.org.
u>About Crane & Co., Inc.
Crane & Co., Inc. is a world leader in providing high-technology counterfeit-deterrent banknote papers. Founded in Dalton, Massachusetts in 1801, the company is managed by members of the sixth and seventh generations of the Crane family. Crane is also the nation's leading manufacturer of fine stationery for social and business correspondence. Crane stationery is sold through more than 2,000 independent retailers across the country. Crane's Non-wovens Division produces a range of technically demanding substrates for industrial applications, such as filtration and reverse osmosis. Crane became a portfolio company of Lindsey Goldberg in 2008. For more information, visit www.crane.com.
About Powell Goldstein LLP and Bryan Cave LLP
Effective January 1, 2009, Powell Goldstein LLP merged with Bryan Cave LLP. The combined Firm is a leading business and litigation firm with more than 1,200 lawyers in approximately 26 offices in the US, Europe, and the Asia/Pacific region. The Firm serves a diverse client base, including businesses, financial institutions and not-for-profit organizations, government entities, and individual clients. For more information, please visit www.bryancave.com.
About Lindsay Goldberg LLC
Lindsay Goldberg is a private equity firm specializing in acquisitions; follow on acquisitions; recapitalizations; industry consolidation financing and investments in family owned business undergoing a generational ownership change; and in publicly traded companies. Lindsay Goldberg was founded by Mr. Alan E. Goldberg and Mr. Robert D. Lindsay in 2002 and is based in New York, New York. For more information, please visitwww.lindsaygoldbergllc.com.