Berwind sells Nat'l Pen Co. for $75M+

Philadelphia-based Berwind Corp. says it has sold San Diego-based National Pen Co. LLC, "the leading global provider of direct mail promotional pens," to Lincolnshire Management Co. 

Berwind, run by the fifth generation of its mining-fortune founding family, declined to disclose the sale price, but notes that it targets manufacturing companies "with transaction values of $75-700 million."

Seller Berwind was advised by Patrick Hanraty, Nathan Bouknight and Justin Shuman, from the Philadelphia office of PNC's Harris Williams & Co. Last month the same group raised cash for a second direct-marketing firm, Asset Marketing Services, which sells collectible coins and brand-name jewelry and watches.

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