Getzler Henrich announced the closing of the sale of Shoreline Business Solutions and Source One Direct, Inc., subsidiaries of Cardiff Holdings. The two personalization bureaus were purchased by Gemalto, the Dutch-based world leader in digital security. The businesses were located in North Kingstown, Rhode Island, and in Atlanta, Georgia, and provided secure personalization services for payment cards addressing credit and debit card issuers in the United States.
Prior to the transaction, Getzler Henrich managing directors had assumed several leadership roles to help the businesses enhance profitability and improve reporting. Stephen Pinsly served as Interim President, initiating new strategic directions to prepare the company for its ultimate sale, and to improve communication with the board of directors and Cardiff’s senior secured lenders. GH process-improvement practice leader Fred Langer led Lean and Six Sigma process improvement and information technology initiatives for the two entities.
During Getzler Henrich's tenure at Cardiff, the team tackled issues related to senior level management accountability, capital expenditure spend, and IT leadership, and identified opportunities to generate savings through process improvement utilizing lean projects and Six Sigma events. As a result of the company's having exceeded its budgeted EBITDA for the period, the stakeholders achieved a very favorable selling price, one which was well above that originally anticipated.
Raymond James acted as the exclusive financial advisor to Cardiff, and Curtis, Mallet-Prevost, Colt & Mosle LLP as counsel. The official press release can be found here.
Getzler Henrich & Associates LLC, founded in 1968, is one of the nation's oldest and most respected names in middle-market corporate restructurings and operations improvement and has successfully worked with over a thousand companies throughout the world to achieve sustainable growth and profitability.
Long respected for its results-oriented approach, Getzler Henrich deploys rapid, pragmatic decision making and metrics-driven implementation services for its clients. With years of experience in executive-level positions at major corporations, and a broad range of advisory expertise, Getzler Henrich professionals have consistently and successfully guided companies through crises and growth phases. Working with a wide range of companies, including publicly-held firms, private corporations, and family-owned businesses, Getzler Henrich’s expertise spans more than fifty industry sectors, from ‘new economy’ technology and service firms to ‘old economy’ manufacturing and distribution businesses.