Berwind sells Nat'l Pen Co. for $75M+
Direct-marketing deal
Berwind sells Nat'l Pen Co. for $75M+
Joseph N. DiStefano
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.
