Cypress Associates LLC represented Finetre on the sale of Its VARDS business unit to MorningStar
Vards
Grant Thornton
Grant Thornton International is one of the world’s leading organizations of independently owned and managed accounting and consulting firms providing assurance, tax and specialist advice to privately held businesses and public interest entities.
Cypress advised Grant Thornton International on the valuation of certain assets transferred to an affiliate.
Cenveo Supremex
Cypress advised Cenveo, Inc. in connection with the sale of Supremex Inc. to the Supremex Income Fund. Cenveo sold Supremex to Fund for total consideration of approximately $335 million.
Cenveo is one of North America’s leading providers of visual communications with one-stop services from design through fulfillment. The company’s broad portfolio of services and products include e-services, envelopes, offset and digital printing, as well as printed office products. The company is uniquely positioned by serving both direct customers through their commercial segment and wholesalers and value-added resellers through its resale segment.
Supremex provides stock and custom manufactured envelopes and related products to both Canadian and U.S. customers in both the private and public sectors, generating revenues of approximately $160.0 million and adjusted EBITDA of approximately $40.0 million.
Cypress acted as financial advisor to Cenveo. Cypress also rendered a fairness opinion in connection with the transaction.
Cenveo Nashua
Cenveo, Inc. is the third largest diversified commercial printer in North America with leading worldwide market share for envelope products and content and production offerings to publishers of scientific, technical and medical journals.
Nashua Corporation is a leading manufacturer and marketer of labels and specialty papers in the United States. Its primary products include thermal and other coated papers, wide-format papers, pressure-sensitive labels, tags, and transaction and financial receipts. Nashua is a recognized leader in the production of pharmaceutical, scale and shelf labels for customers in the pharmacy, retail and grocery markets.
Cypress acted as financial advisor to Cenveo in connection with the acquisition of Nashua and also rendered a fairness opinion to the Cenveo Board of Directors in connection with the transaction. Cypress worked closely with Cenveo’s senior management and Board of Directors throughout the acquisition process and assisted in due diligence, negotiation and structuring of the transaction.
The Aristotle Corp.
Aristotle is a leading manufacturer and global distributor of educational, health, medical technology and agricultural products. Its products include educational materials and supplies for substantially all K-12 curricula, molded plastics, biological materials, medical simulators and items for the agricultural, senior care and food industries.
Cypress acted as financial advisor to the Special Committee of the Board of Directors of Aristotle Corporation in connection with the proposed squeeze out merger with Geneve Corp. No agreement was ultimately reached and Cypress delivered an opinion that the final price proposed was inadequate. Shortly after the proposal was withdrawn, Aristotle’s share price rose to levels more than 20% above the proposed purchase price.
Ceridian
Ceridian Corporation, an information services company, provides services to the human resource, transportation, and retail markets in the United States, Canada, and the United Kingdom. It operates through two segments, Human Resource Solutions (HRS) and Comdata. Ceridian Corporation was founded in 1957 and is headquartered in Minneapolis, Minnesota.
On May 31, 2007, Ceridian announced that it had agreed to be acquired by a company formed by Thomas H. Lee Partners, LP and Fidelity National Financial, Inc., in a transaction that valued Ceridian at $5.3 billion.
Cypress advised certain institutional shareholders of Ceridian with respect to issues related to the sale process, the terms of the merger agreement and disclosure in the Ceridian merger proxy. The merger terms and proxy were amended to include certain changes recommended by Cypress. The transaction was approved by Ceridian shareholders on September 12th, 2007.
ACS
ACS provides information technology services as well as business process outsourcing solutions to businesses, government agencies, and non-profit organizations.
Case description: Alleged that the members of the ACS board of directors breached their fiduciary duties by approving a merger with Xerox which allowed Darwin Deason, ACS’s founder, Chairman and largest stockholder, to extract for himself hundreds of millions of dollars of value that rightfully belonged to ACS’s public shareholders.
Cypress was offered as an expert witness on behalf of the court-appointed class plaintiffs regarding the fair value of ACS as well as the valuation and fairness opinions of ACS’s financial advisors. The case was settled in May 2010, with Deason, ACS and Xerox agreeing to pay a total of $69 million in cash.
Cenveo Ennis
Cenveo, Inc. (“Cenveo”) a diversified commercial printer in North America with leading worldwide market share for envelope products and content and production offerings to publishers of scientific, technical and medical journals.
PrintXcel is a provider of a wide variety of print products and services. PrintXcel products include cut sheet and continuous traditional checks and forms, financial forms products, direct mail, integrated and affixed card and label form products, multipart mailers, VersaSeal Pressure Seal Mailers as well as online ordering and print procurement solutions.
Printegra is a manufacturer of short run business printing sold through distributors. Printegra products include custom and software compatible checks and forms, print shop products, integrated products, as well as online customer service / ordering.
Cypress acted as financial advisor to Cenveo in connection with the divestiture of its PrintXcel and Printegra subsidiaries to Ennis, Inc.