Lincolnshire Management sells National Pen for about $218 mln

Jan 05, 2017

By Iris Dorbian

Lincolnshire Management has sold National Pen to Cimpress N.V.

for about $218 million. Lazard Middle Market provided financial advice to Lincolnshire Management Inc and National Pen on the transaction. Based in San Diego, National Pen is a maker of custom writing instruments.

NEW YORK, January 5, 2017 – Lincolnshire Management, Inc. announced the sale of National Pen to Cimpress N.V. (Nasdaq: CMPR). The transaction closed on December 30, 2016. Under the terms of the agreement, Cimpress acquired 100 percent of the outstanding equity interests of National Pen for a purchase price of approximately $218 million (USD) subject to customary adjustments for net debt and working capital.

Founded in 1966, National Pen is the leading manufacturer and marketer of custom writing instruments to more than one million small and medium sized businesses globally. The company is headquartered in San Diego, California with additional locations in the United States, Mexico, Ireland, and France.

Mike Lyons, President of Lincolnshire,stated “This was a very successful investment for Lincolnshire Equity Fund IV. We worked closely with management to drive growth from new and existing customers, by expanding the company’s product offerings and multi‐channel direct marketing capabilities. National Pen is well positioned for sustained, long‐term growth and is a quality addition to Cimpress.”

T.J. Maloney, Chairman and CEO of Lincolnshire stated “The hard work of Mike Lyons and Ben Bartlett really paid off in the successful outcome of National Pen ‐ a deal that generated a significant return for our Limited Partners in four short years.”…. Read More