Forbes Mergers & Acquisitions is pleased to announce that Concept One Accessories has acquired the assets of Backgate Designs, Inc., owner of the Flair Hair visor brand ("Flair Hair") of Morgan Hill, California. Forbes M&A served as the exclusive financial advisor to Flair Hair for this transaction.
Concept One Accessories is owned by Sam and Bernie Hafif, proven leaders for fashion, sports and entertainment accessories. Based in New York and with 150 employees worldwide, Concept One is a premier resource for licensed consumer products partnering with global brands such as Disney, Ford, MillerCoors and professional and collegiate sports. The company is committed to growth both organically, with its current portfolio of brands and products, and also via acquisition. Sam Hafif states, "Concept One is actively pursuing accessory companies with unique products or brands, which can be leveraged against its global distribution and marketing network. Flair Hair is a terrific product that people love, and we believe we can expand its presence across multiple channels in North America very quickly. We've already begun discussions with several of our key licensors to apply their properties to our Flair Hair product."
In 2007, David Nance created a visor with sewn-in spiked hair and it immediately became a hit in his local community. With a federal design patent and a couple years of work, the original Flair Hair brand visors (www.FlairHair.com) were sold in golf shops to truck stops across the United States and some markets abroad. Jennifer Delaney, President of Backgate Designs and David's daughter, explains "Bringing a new category of novelty hat to the marketplace was an exhilarating and remarkable experience. Flair Hair visors swept the nation and Concept One is a natural and exciting next step to grow the brand. We are thrilled about this transaction and confident in Concept One's commitment to continued growth of the Flair Hair brand. Forbes M&A was an integral piece of joining the synergies of the Flair Hair product and Concept One's current portfolio of accessories. Jim Johnston's identification of mutual values and expectations allowed this deal to close quickly and with minimal effort."
Jim Johnston, Senior Advisor at Forbes M&A, who lead the transaction, stated "We are delighted to have represented Flair Hair in the sale. The consumer products space is very active right now. After qualifying buyer candidates and interviewing dozens of executives, we presented Jennifer with five finalists for Flair Hair to consider. It was a pleasure working with Jennifer and Sam."
About Forbes Mergers & Acquisitions
Forbes Mergers & Acquisitions is a lower middle market transaction advisory firm with a focus on consumer products and service, IT/Communications, healthcare and diversified industries. Forbes also provides valuations and other financial and strategic advisory services. The professionals of Forbes Mergers & Acquisitions have over 100 years of collective transaction experience. Forbes as locations in Denver, Colorado and Washington, D.C. For more information, visit www.ForbesMA.com.