December 23, 2010
LockeBridge, LLC announced today that it has acted as exclusive financial advisor in the recapitalization of Something Sweet, Inc. with Saybrook Capital, LLC, a California based private equity group, and Agincourt Capital Partners, LLC, a New York based private equity group. Based in New Haven Connecticut, Something Sweet is a premier baker of cakes and pies. Something Sweet provides over 20,000 cakes and pies a day to companies such as BJs, Costco, Stop & Shop and Walmart. The terms of the transaction were not disclosed.
According to Mr. Joe Montesano, President of Something Sweet, Inc., “The combination of Saybrook and Agincourt was a perfect match for us. We had some very unique needs. LockeBridge gained a clear understanding of our objectives and ensured that the transaction was structured to meet all of our goals. LockeBridge’s support and guidance went well beyond helping us to recapitalize our business. They gave us invaluable guidance on estate planning and wealth management. This was a part of the process we had given very little thought to but turned out to be a very important step in completing the deal for us.
Scott Waxler, LockeBridge Managing Partner states, “We were fortunate to work with such professionals, enabling us to execute the entire transaction process in approximately five months. The Owners continue to direct the company and now have the benefit of the signficant resources of the two private equity firms. I am confident that together they will be successful in growing the Company to be a leading national player in the baked goods market.