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H.I.G. Portfolio Company DCWV Acquires Blue Moon Beads
SAN FRANCISCO, CA - July 7, 2011 - Die Cuts With a View (“DCWV”), an H.I.G. Capital portfolio company, announced the acquisition of the assets of Blue Moon Beads (“Blue Moon”), a leading designer and supplier of high quality jewelry-making products. DCWV acquired the assets as the stalking horse bidder in Westrim, Inc.’s Chapter 11 bankruptcy process.
The acquisition of Blue Moon allows DCWV to diversify its product offering and expand into a third design-driven product segment, along with paper crafting and home décor. Mike Hill, CEO of DCWV, said, “We see this acquisition as a natural progression for the company as it further solidifies our position as an industry leader in design and innovation.” Mike added, “The acquisition underscores our commitment to diversifying our product offerings while maintaining the highest level of standards with regard to quality, functionality and aesthetics.”
“The Blue Moon acquisition shows DCWV’s commitment to leadership in the crafts industry,” commented Neil Tuch, Managing Director of H.I.G. Capital. “We looked past the parent company’s troubled balance sheet and found a company with innovative products, important customer relationships, a recognized brand, and strong, creative employees.”
About Die Cuts With a View
Die Cuts With a View, based in Provo, Utah, is an industry leader in the paper crafting market. In addition to paper crafting, DCWV has become an important supplier in the home décor market with innovative vinyl wall art and other decorative products sold through its DCWV Home brand. For more information please refer to www.diecutswithaview.com.
About Blue Moon Beads
Blue Moon Beads is a leading designer and supplier of high quality jewelry-making products. Blue Moon sells its high quality, design oriented beads, pendants, and charms through leading retailers across North America.
About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with more than $8.5 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, New York, and San Francisco in the U.S., as well as affiliate offices in London, Hamburg and Paris in Europe, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding in 1993, H.I.G. invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 50 companies with combined revenues in excess of$8 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.