-Transaction Reflects Strong Results of Synergy’s Turnaround Plan-
SADDLE RIVER, NJ – June 2 , 2010 – Synergy Enterprises, LLC (“Synergy”), a private investment and management advisory services firm, today announced the sale of Saddle River, NJ-based AmerTac, a leading designer, marketer and distributor of innovative and trend-right electrical, decorative and under cabinet lighting, decorative and functional hardware and lawn and garden products. Under the terms of the transaction, AmerTac has been sold to the owner of Dallas- based Jackson Deerfield Mfg. Corp., a domestic manufacturer and distributor of decorative wallplates. Financial terms of the transaction, which was completed today, were not disclosed.
Gary Nacht, Chairman and Chief Executive Officer of Synergy Enterprises, said “This transaction reflects the resounding success of our turnaround plan for AmerTac, which we acquired just over one year ago. Since our purchase of the Company, and under the strong leadership of its President, Sal Mirra and his management team, AmerTac achieved substantial sales growth through a combination of new product introductions, new customer acquisition and new channels of distribution, in additional to solid growth within its core customer base, all during a challenging retail environment. At the same time, we are pleased with the results of our hard work in increasing profitability, streamlining the operations of AmerTac‟s domestic and international offices and „going green.‟ Although this transaction occurred much sooner than we originally anticipated, selling this turnaround success story to a well-positioned strategic buyer is exactly what Synergy does best.”
About Synergy Enterprises, LLC
Synergy Enterprises, LLC. is a private investment and management advisory services firm specializing in acquiring underperforming retail, manufacturing and distribution companies, primarily, but not exclusively, in the consumer products and apparel industries. Headquartered in Miami Beach, Florida, the firm was founded by Chairman and CEO Gary A. Nacht, a 25-year veteran of corporate acquisitions whose track record includes such companies as Kmart Canada Ltd., Gemini Industries, Northern Reflections, Digital Products International and AmerTac, Inc.
About AmerTac
AmerTac is a leading designer, marketer and distributor of innovative and trend-right electrical, decorative and under cabinet lighting, decorative and functional hardware and lawn and garden products. Founded nearly 70 years ago, AmerTac enjoys leading market positions across its product categories, with a majority of its products based on the Company‟s own proprietary designs and patented technologies. AmerTac is supported in its operations by a leading-edge, low cost and fully outsourced manufacturing model that is based on one of the most flexible and leanest supply chains in the industry.
About Jackson Deerfield Mfg. Corp.
Jackson Deerfield Manufacturing is a domestic manufacturer and distributor of decorative wallplates. It was founded in 1957 as a manufacturer of wood products and today still manufactures product in its Texas facility.