VIVITAR BUY OUT BY HELP OF KPMG
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Sep 05, 2008 11:47AM
KPMG Corporate Finance LLC, a full service, independent, middle-market investment bank, today announced that it was the exclusive sellside advisor for Vivitar Corporation, one of the most recognizable names in the camera industry. The transaction transfers Vivitar’s worldwide brand and intellectual property to Sakar International, Inc., a 30-year-old, family-owned consumer electronics manufacturer based in Edison, NJ.
KPMG Corporate Finance LLC conducted a competitive global sale process in order to identify strategic acquirers that met price, management, growth strategy, and operating culture expectations of Vivitar. Throughout the sale process, KPMG Corporate Finance LLC developed significant buyer interest, coordinated management meetings and due diligence, and assisted Vivitar in successfully negotiating a sale to Sakar International, Inc.
“Vivitar is one of the most well-known brands in the world, with a strong product and dedicated consumer base,” said Lorie Beers, managing director with KPMG Corporate Finance LLC. “Finding the right buyer was critical. Sakar, a leading consumer electronics manufacturer, provides an ideal home for Vivitar’s already established brand. Sakar gains an ability to use the Vivitar brand on a midprice range of digital cameras, expanding its current lower range offering.”
Vivitar is one of the world’s largest independent distributors of digital cameras, point and shoot cameras, 35 millimeter single lens reflex cameras, auto focus cameras, digital video cameras, multimedia players, flash units, binoculars, projectors, and camera accessories. Vivitar's parent company Syntax-Brillian Corporation is a debtor under Chapter 11 of the U.S. Bankruptcy Code.
About KPMG Corporate Finance LLC
KPMG Corporate Finance LLC provides a full suite of investment banking and advisory services to its domestic and international clients. Our professionals have the experience and depth of knowledge in global M&A and project finance to advise clients on mergers and acquisitions, sales and divestitures, buy-outs, financings, restructurings, fairness opinions, infrastructure project finance, and other advisory initiatives. In addition, we remain independent of financing sources, helping to ensure that our efforts are objective and aligned with the goals of KPMG’s firms’ clients. Operating in 51 countries, KPMG's Corporate Finance practice comprises more than 1,800 professionals who are able to meet the needs of KPMG's firms’ clients across the globe. In 2007, as a leading financial adviser, KPMG's Corporate Finance practice completed 450 deals totaling US$27.5 billion, according to Thomson Financial’s global M&A league tables. Visit us online at www.kpmgcorporatefinance.com.