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Carl Marks advises Scovill Fasteners in sale of company
11
May '11
Carl Marks Advisory Group LLC, the investment banking and corporate revitalization firm based in New York, has been retained to act as financial advisor to Scovill Fasteners Inc., a Clarkesville, Ga.-based manufacturer of engineered closure products used in the apparel and industrial markets.

Scovill filed for Chapter 11 bankruptcy protection last month. Carl Marks is facilitating the sale of the company's operations and assets in connection with the Chapter 11 filing.

Founded in 1802 in Waterbury, Conn., Scovill Fasteners is an industry leader in the production of high quality snap fasteners and tack buttons. Today, the company's primary manufacturing facility and headquarters are located in Clarkesville.

Its brand portfolio includes products that have high brand recognition in the various markets served, including Gripper, Duramark, DOT, Pull-The-DOT, Lift-The-DOT, Common-Sense and DOT Durable™. Scovill's products are used in a wide range of applications, including jeans wear, infant and children's wear, sporting goods, medical devices and safety equipment.

Carl Marks was retained by Scovill to provide financial advisory services in September 2010. Scovill has agreed to sell nearly all of its operations and assets to Global SFI Holdings LLC, subject to higher and better bids and bankruptcy court approval. The company intends to continue to operate as usual during the bankruptcy process. The sale is expected to be completed by June.

Carl Marks Advisory Group LLC

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