Fenway Partners Completes Acquisition of American Achievement Corporation

Fenway Partners, a leading private equity firm, has completed its acquisition of American Achievement Corporation (AAC), a leading provider of class rings and yearbooks in the US. The acquisition plays to Fenway's strengths in the branded goods industry, with AAC boasting attractive market positions in its categories. The deal will enable Fenway to work closely with AAC's senior management team, led by Dave Fiore, to drive growth and build on the company's success.

Key Takeaways:

• Fenway Partners, a middle-market focused private equity firm, has acquired American Achievement Corporation (AAC) from Castle Harlan, Inc.
• AAC is a leading provider of class rings and yearbooks in the US, with over $300 million in annual revenues.
• The company sells its products through multiple distribution channels, including on-campus sales representatives, jewelry chains, mass merchants, and independent retailers.
• AAC's well-recognized brands include Balfour, ArtCarved, Taylor Publishing, Keepsake, Who's Who Among American High School Students, and The National Dean's List.
• Fenway Partners will provide strategic and hands-on operating management support to AAC to drive growth and profitability.
• The acquisition is consistent with Fenway's strategic focus on building brands and businesses in the branded goods industry.
• Fenway Partners has funds under management of over $1.4 billion and a track record of successful investments in companies like Riddell Sports Group, Harry Winston, and Simmons Company.
• Fenway recently sold a portion of its ownership stake in Simmons in a transaction valued at $1.1 billion.

Statistics:

• AAC generates over $300 million in annual revenues.
• The company sells its products through a network of approximately 400 independent on-campus sales representatives.
• AAC's products are distributed through multiple channels, including jewelry chains (Zales, Gordons, and Sterling), mass merchants (Wal-Mart), and approximately 5,000 independent jewelry retailers.
• Fenway Partners has funds under management of over $1.4 billion.
• The acquisition is Fenway's latest investment in a branded goods company with strong strategic positions and growth opportunities.
• AAC has a long history of producing class rings and yearbooks, with brands like Balfour and ArtCarved dating back over 90 years and 49 years, respectively.

Sources:

• Fenway Partners, Inc.
• Castle Harlan, Inc.
• American Achievement Corporation (AAC)
• Riddell Sports Group
• Harry Winston
• Simmons Company