Utrecht Art Supplies is a niche retailer of fine art supplies with 35 stores nationwide. Utrecht also manufactures its own proprietary line of oil-based and acrylic paints out of a facility in Brooklyn, NY. The company was founded in 1949 and is based in Cranbury, NJ (www.utrechtart.com).
“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,” said Topspin Partners LBO Managing Director Steve Lebowitz.
Blick Art Materials is one of the largest and oldest providers of art supplies in the United States, with 39 retail stores nationwide. The company was founded in 1911 and is headquartered in Highland Park, IL (www.dickblick.com).
“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,” said Robert Buchsbaum, Chief Executive Officer of Blick Art Materials.
Investment bank Consensus Advisors acted as a financial advisor to Utrecht for this transaction. Consensus specializes in retail and consumer products companies and has office in Boston and New York (www.consensusadvisors.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 4-8-13