Knox & Co. Advises Drake Beam Morin –
Japan, Inc. on Sale of Its U.S. Subsidiary
FOR IMMEDIATE RELEASE
CT, August 28, 2006 – Knox & Co., a leading
investment bank for middle-market and cross-border mergers
and acquisitions announced today that it acted as exclusive
financial advisor alongside Mitsubishi UFJ Securities Co.,
Ltd., to Meitec Corporation and its Japanese subsidiary Drake
Beam Morin for its recent divestiture of 100% of the stock
in Boston-based Novations Group, Inc. (“Novations”).
Terms were not disclosed.
Novations is a human capital training and consulting firm providing
solutions to increase the capacity of individuals and organizations.
Among the professional services offered by Novations are coaching
and mentoring, diversity and inclusion, negotiation and collaboration
and leadership-development training. Management of Novations participated
in the acquisition alongside a private equity sponsor.
Knox & Co. announced that this transaction was the third and
final step in the sale of Novations. In January 2006, Meitec Corporation
announced the sale of the assets of Novations VMS and FLA Divisions.
With this sale, the entire company has now been divested.
Frederick A. Rossetti, Managing Director with Knox & Co. was
lead banker on the transaction. He was assisted by Iichiro Takahashi
and Mark S. Campbell both Vice Presidents with Knox Tadashi Todate
and Morito Emi, both Senior Managers, Cross Border M&A, Mitsubishi
UFJ Securities Co., Ltd.
Knox & Co. is an investment banking, consultancy and advisory
firm specializing in two complementary advisory disciplines: Investment
Banking and Corporate Reorganization. The firm undertakes assignments
throughout North America and, when necessary, abroad. Knox &
Co. conducts its securities-related business through its wholly
owned subsidiary, Knox Securities Corp., member NASD. In addition,
the firm enjoys a strategic alliance with Mitsubishi UFJ Securities
Knox & Co. (www.knoxandco.com) has advised on more than 150
middle-market merger and acquisition and financial advisory assignments
since its inception.
Frederick A. Rossetti