Topspin LBO Acquires Utrecht Manufacturing Corporation

September 10, 2007. Roslyn Heights, NY – Topspin LBO today announced that it has completed the acquisition of Utrecht Manufacturing Corporation (“Utrecht”) from Brynwood Partners.

Utrecht is a leading multi‐channel retailer of art supplies, with 35 stores nationwide. The company also sells its own brand of paints, canvas, and other art products, which are found exclusively at Utrecht locations and select independent dealers. Utrecht represents the first investment out of Topspin LBO’s recently‐raised $115 million+ buyout fund.

George J. Muench, President and CEO of Utrecht, will remain with the company under its new ownership. He stated, “We are very excited about the opportunity to continue building the Utrecht brand with our new partners. Topspin’s experience in retail and consumer products will be helpful as we consider various avenues of growth.”

Steve Lebowitz, Managing Director of Topspin LBO, said, “This investment is a great way to start off our new fund. The business has significant momentum, and we look forward to working with George and his team in maintaining and building on it.”

Hendrik Hartong, Jr., Senior Managing Partner of Brynwood Partners said: “We are happy with the sale of Utrecht to Topspin LBO. Utrecht is a great franchise and has a strong future with its new owners.”

Madison Parker Capital, a Boston‐based boutique merchant bank, partnered with Topspin LBO on the transaction and made an equity co‐investment in the company.

Topspin LBO

Topspin LBO is a Long Island, NY‐based private equity fund that makes control investments in small businesses with $15 million to $75 million of revenues. The firm is generalist in approach but often invests in sectors such as consumer products, retail, security, media and publishing, business services, and niche manufacturing. The team at Topspin LBO has considerable industry operations expertise and has partnered with management teams in building businesses of varying stage, size and sector, both at Topspin as well as prior firms. Additional information on Topspin LBO can be found at

“We thank the Topspin team for the value and support they provided to PlayMonster as our partners over the past four years. From the beginning, they shared our view for the potential of our business and helped us execute on both our M&A and organic growth strategies.”

Bob Wann, CEO of PlayMonster