D.A. Davidson & Co. announced today that it served as the exclusive sell-side financial advisor to Spectrum Group International, Inc. (“SGI”), the parent of Stack’s Bowers Galleries (“SBG”, or the “Company”) in its sale to A-Mark Precious Metals, Inc. (NASDAQ: AMRK) (“A-Mark”).
Stack’s Bowers Galleries is a heritage brand founded in 1933 in New York and known as America’s oldest rare coin auctioneer and dealership. The Company’s Auction Services unit conducts in-person, internet and specialized auctions of consigned and owned items and has sold a wide range of the most important rarities and numismatic collections over its distinguished history. SBG’s Dealership unit maintains a sizeable inventory of rare coins and paper money that it sells as both a wholesaler to other retailers and as a DTC retailer. “I’m incredibly excited about SBG joining forces with A-Mark, which will allow us to offer enhanced services to our clients and accelerate our growth,” said Brian Kendrella, President of SBG. “D.A. Davidson played a pivotal role in supporting SBG through this sale process and is the culmination of the long-term partnership between SBG and D.A. Davidson.”
Dan Friedman, Managing Director at D.A. Davidson, said, “We are thrilled to announce this transformative transaction and are appreciative of the opportunity to work with Brian and the SBG team. We can’t wait to see what they’re able to accomplish as part of the broader A-Mark family.”
D.A. Davidson’s Consumer Group has built a strong reputation working with numerous brands that serve the collector and hobbyist. Our team has a reputation for its depth of industry knowledge, breadth of capabilities, and tenacity of its senior professionals. Offering sector-specific expertise through a full-service platform, the team provides M&A, strategic advisory, and equity capital markets capabilities across several subsectors, including active & outdoor; infant & juvenile; consumer products & services; ecommerce & marketplaces; and food & beverage. Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the brand of D.A. Davidson MCF International.
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