Excelsior Capital Partners LLC said Monday that it has acquired substantially all of the assets of 7550570 Canada Inc., Artissimo U.S. LLC, and Lot 26 Studio Inc. which were collectively doing business as Artissimo Designs. Financial terms weren’t announced. El Segundo, California-based Artissimo designs and makes ready-to-hang wall art.
Newport Beach, California (July 7th, 2015) – Excelsior Capital Partners, LLC (“Excelsior”) today announced that it formed Artissimo Designs LLC, a U.S. entity, and Artissimo Designs Canada, Inc., a Canadian subsidiary of Artissimo Designs LLC (together, “ADL”), to acquire substantially all of the assets of 7550570 Canada, Inc., Artissimo U.S., LLC, and Lot 26 Studio, Inc. which were collectively doing business as Artissimo Designs.
ADL will be headquartered in El Segundo, California, a subsidiary office in Montreal, Canada, and it will continue operating its North American manufacturing plant in Tijuana, Mexico.
ADL is the industry leader in trend-setting wall art at major retailers in the United States and Canada. ADL operates in three segments: Wall Décor, which focuses on fashionable wall art; Sports, which has licenses with the major sports leagues to produce innovative and captivating wall art of all major sports franchises in North America; and Entertainment, focusing on major studios such as Disney, Marvel, and DC Comics and key motion pictures such as Star Wars, Frozen, and the Avengers.
“Our mission for ADL is to keep expanding its product offering into the premium category, targeting the best retail opportunities and developing must-have products” said Ravi Bhagavatula, CEO of ADL and Managing Partner at Excelsior Capital Partners. “We are focusing on building creative design, licensing and manufacturing capabilities to enable us to continue creating breakthrough products that will surprise and thrill consumers”.
“Excelsior is working with the senior management team to develop and implement a strategy to guide ADL for the many years to come”, said Owen Schmidt, COO at ADL.
“Our strategic plan has numerous initiatives across product formats, processes, information systems and functions that are designed to leverage the company’s strengths, make us more cost efficient and fuel our sales”, said Keith Weller, EVP-CMO at ADL.
“ADL’s brand is second-to-none in the industry and we are excited to see the company grow with a strong balance sheet and a refocused corporate strategy.” said Adam Zucker, EVP of Licensing and Product Development at ADL.
About Excelsior Capital Partners
Excelsior Capital Partners invests in special situations, debt and specialty lending opportunities in operating companies and commercial real estate. Seasoned investment professionals in their Newport Beach, California and Denver, Colorado offices work closely with business owners, management teams and lenders to develop creative financial and operational solutions. www.excelcp.com
Artissimo Designs LLC
ADL designs and manufactures ready?to?hang wall art, including framed and unframed art on printed/embellished canvas, laminated wood plaques and wall decals. ADL sells through major retailers across the United States and Canada. www.artissimodesigns.com