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ACACIA PARTNERS COMPLETES A MAJORITY RECAPITALIZATION OF A&A GLOBAL INDUSTRIES, LLC
May 31, 2023
Fort Lauderdale, FL
Cross Keys Capital, LLC ("Cross Keys"), a leading independent investment banking firm providing M&A advisory services, is pleased to announce that it acted as the exclusive financial advisor to A&A Global Industries, LLC (“A&A Global” or the “Company”) in its partnership with Acacia Partners (“Acacia”), an Austin, Texas based private investment firm.
Founded in 1938, A&A is a nationwide value-added distributor of novelty toys, candy, plush (stuffed animals) and redemption products to family entertainment centers, vending route operators, and amusement companies. Headquartered in Baltimore, Maryland, A&A is an industry leader known for its innovative product offering, comprehensive safety testing, and ease of doing business. Learn more at https://www.aaglobal.com/
Steve Kovens, A&A’s Co-President stated, “Given that we are a third-generation family-owned business, with the 4th generation already working in the business, we emphasized this strategic search process on identifying a partner that could not only help us continue our exceptional growth, but a partner that would also be conscientious in maintaining our Company’s core values and culture. Cross Keys found exactly that partner in Acacia.”
Brian Kovens, A&A’s Co-President stated, “Another matter of importance for us was finding a partner that shares our time horizon. Acacia’s permanent capital base ensures that we can focus on managing the business for long-term success, serving our customers exceptionally, and keeping our employees happy to the greatest extent possible.”
Rick Becker, Co-Founder and Managing Director of Cross Keys, commented, “This is the second time we have had the absolute pleasure of closing a transaction with Acacia Partners. Their ability to do what they say, close quickly and maintain an incredible working relationship with our client / sellers is second to none. Acacia’s transparency and ability to communicate openly and honestly is something that we do not see from many in the private equity community. In addition to paying a very fair price, Acacia is an easy firm to recommend to our clients concerned about the qualitative aspects of a transaction, and the go-forward post-closing aspects of a transition event. Acacia is truly unique, and they were the perfect partner for the class and sophistication of an A+ client such as A&A Global.”
The Cross Keys’ deal team consisted of Rick Becker, Co-Founder and Managing Director, Neil Dhruve, Director, and Guy Levy, Analyst.This May 31st closing was Cross Keys’ 6th successfully closed sell-side transaction of 2023, with total cumulative enterprise value in excess of ¾ of a billion dollars. Cross Keys has three more sell-side transactions expected to close within the next thirty days.
About Acacia Partners
Acacia Partners is a private investment firm based in Austin, Texas that invests solely in family-owned and owner-operated companies. Acacia invests from a committed capital fund in businesses ranging in enterprise value from $50 million to $300 million that are seeking majority or minority equity investment partners. Unlike traditional private equity firms, Acacia has a high degree of flexibility regarding investment structure and time horizon.
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