Corvest Promotional Products, Inc. ("Corvest") is one of the largest suppliers of promotional products in the United States.
Acquisition Search Mandate
GPI was retained by AdvaLite, Inc., a company owned by management and Trivest, a leading private equity group. Our mandate was to advise AdvaLite in acquiring companies that offered complementary products that it could sell through its existing distribution network. At the time, AdvaLite was the 27th largest company in the industry.
Execution
GPI researched over 450 companies, of which over 80 met AdvaLite's acquisition criteria. We identified 29 owners interested in discussing the sale of their business. We focused on companies that were leaders within their product categories and visited 13 targets. We advised AdvaLite in the purchase of Toppers, Inc., the largest supplier of sport, tote and travel bags serving the promotional products industry. The combined company was consolidated under the name Corvest.
Summary
The Toppers acquisition helped propel Corvest to industry leadership as one of the top four companies as ranked by the industry trade magazine The Counselor.