Diamond Capital Advisors is pleased to announce the sale of our client, Head West Mirrors, to the parent company of Crystal Art, a strategic buyer.
Diamond’s deal team was led by David Ring, a managing director. Diamond executed a competitive and successful blind auction process culminating in the sale of Head West Mirrors at the client’s expected price. The process took just 3 ½ months and started and closed during the Covid-19 Coronavirus pandemic. The entire bidding and negotiation activity were conducted virtually with the only in person meetings occurring during due diligence.
Head West Mirrors, located in Compton California, is a 42-year-old manufacturer of mirrors and related products. The current transaction spun off the Head West wholesale division which sells its products to leading online retailers and is experiencing tremendous growth. The owner wanted to sell the online business and retire following the sale of his land, building and manufacturing facility in a separate real estate transaction.
Crystal Art is a 30-year-old competitor of Head West that operates a 275,000 sq ft warehouse in California and a 75,000 square foot warehouse in Mexico. They are an industry leading product development specialist for mass market wall decor in Framed Art, Mirrors, Photo Frames, and alternative art.
Call David Ring with any questions at: (310) 432-8578