Gem Shopping Network is a 24-hour live television network specializing in the sale of colored gemstones and one-of-a-kind jewelry. The company reaches over 40 million homes broadcast via satellite and cable networks across the United States. The company was founded in 1997 by Frank Circelli and is based in the Atlanta suburb of Duluth (www.gemshopping.com).
Livingstone acted as the exclusive financial advisor to Gem Shopping on this transaction. “Livingstone did an outstanding job understanding our business and conducting a competitive global sale process that exceeded our expectations,” said Gem Shopping Network founder Frank Circelli.
Livingstone is an independent, international investment banking firm focused on M&A and private capital transactions with values between $30 and $300 million. Across its principal offices in the US and Europe, Livingstone’s corporate finance professionals specialize in five key sectors: business services; consumer; healthcare; industrial; and media & technology. The firm has offices in Chicago, London and Madrid (www.livingstonepartners.com).
“We recognize what is important to our clients and how to navigate the complexities of founder transitions. This is another example of our ability to deliver great results for owner-operated businesses,” said Livingstone Vice President Andrew Bozzelli.
Sun Capital Partners is a private investment firm focused on leveraged buyouts, equity, debt, and other investments in companies that can benefit from its in-house operating professionals and experience. Sun Capital has invested in and managed more than 325 companies worldwide with combined sales in excess of $45 billion since the firm’s inception in 1995. The firm has offices in Boca Raton, Los Angeles, and New York as well as affiliates with offices in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen (www.SunCapPart.com).
“We are proud of the success the team has had establishing Gem Shopping as an industry leader. We are enthusiastic about partnering with Sun Capital and the opportunity ahead. Sun Capital will help us accelerate the execution of our growth strategy with capital and their deep retail and consumer products sector expertise,” said PJ Lynch, CEO of Gem Shopping Network.
© 2013 PEPD • Private Equity’s Leading News Magazine • 9-17-13