Sean Ostrander Named Vice President at Novelty Hill Capital
We are very pleased to introduce Sean Ostrander as Vice President at Novelty Hill Capital. With 10 years of experience in handling transactions across various industries during his time at Merit Investment Bank in Seattle, Sean joins us with a wealth of expertise.
At Novelty Hill, Sean will be responsible for overseeing all aspects of the transaction process, utilizing his extensive knowledge and experience to enhance our client relationships and results. His proven skills and strategic insights bring great value to our team.
Sean is a native to the south Puget Sound area. Outside of work, he has served in multiple roles with Young Life, a para-church outreach organization for middle and high schoolers. He and his wife Amy are avid travelers, who enjoy making the most of stunning Pacific Northwest summers.
Sean graduated with a bachelor’s degree in business administration from The Master’s University and is licensed by FINRA with Series 63 and Series 79 certifications.
We are thrilled to welcome Sean to the team and look forward to the contributions he will make as we strive for excellence in serving our clients.
Nick DeVaney Joins Novelty Hill Capital as Managing Director
Nick DeVaney has recently joined Novelty Hill Capital as Managing Director, bringing deep expertise and leadership to the growing firm. With experience spanning two decades in investment banking and entrepreneurship, Nick is an experienced, trusted and recognized leader serving middle-market privately held companies in their M&A endeavors.
Prior to his role at Novelty Hill, Nick was a co-founder and president of a regional boutique investment bank focused on M&A for middle-market companies. A leading advisor to the Built Environment and Professional Services industries, Nick has successfully navigated difficult transaction obstacles, market challenges and industry dynamics for both domestic and cross-border clients.
Beyond his professional achievements, Nick is a dedicated husband and dad, raising his three kids with his wife Lauren, coaching competitive youth sports, both travel and high school, while enjoying the outdoors with his family and friends whenever possible.
Nick holds a bachelor's degree in business administration from Washington State University and is fully licensed with Series 24, 62 and 63 FINRA certifications.
We're looking forward to the impact of Nick’s leadership within the firm and in guiding our clients to successful outcomes!
Novelty Hill Capital Advises Firehook Bakery in Sale to Forward Consumer Partners
SEATTLE, WA – April 22, 2024: Novelty Hill Capital, a leading middle-market investment bank based in Seattle, Washington, is pleased to announce the recent sale of Firehook Bakery, a rapidly growing baking business specializing in artisanal baked goods, to Forward Consumer Partners, a private equity firm that invests in branded consumer businesses.
Novelty Hill Capital served as the exclusive financial advisor to Firehook on the landmark deal, which will continue Firehook’s more than 30-year tradition of uncompromising quality, while preserving the company’s vision to marry its family heritage and craftsmanship with strategic innovation and continued expansion.
Established in 1992 by founder Pierre Abushacra, Firehook began as a neighborhood bakery in Old Town Alexandria, Virginia, and has risen to become the U.S.’s premier artisanal cracker brand. Under Abushacra’s leadership, Firehook has experienced explosive growth while maintaining its commitment to quality and reputation for producing organic, non-GMO, Kosher, and SQF-certified snacks handcrafted in small batches.
As part of the acquisition, Abushacra will retain a significant minority ownership stake and continue to serve on the Board of Directors for Firehook. He and Forward also welcome Maura Mottolese as Firehook’s new chief executive officer. Mottolese’s distinguished career in the food and beverage industry includes serving as CEO of both Cholula and Tate’s Bake Shop with tremendous success.
Abushacra reflected on the sale, saying: “Working with Novelty Hill Capital was critical in positioning Firehook for its next phase of growth. Novelty Hill’s patience, integrity and transparency throughout the process were key in solidifying Forward as the ideal partner to propel the brand into the future. From the beginning of our engagement, Michael Barber and his team have been respectful stewards of our vision and savvy strategic advisors helping us to realize an exceptional outcome.”
Michael Barber, CEO and managing director of Novelty Hill Capital, commented on the acquisition, saying: “This deal demonstrates our commitment to prioritizing our client’s vision, while leveraging our extensive M&A expertise to achieve their strategic goals. It represents more than just a transaction. It’s a significant advancement for both Firehook and the artisanal food industry, and exemplifies our ability to deliver the most favorable results for our clients.”
The sale to Forward represents a new chapter for Firehook under Mottolese’s leadership.
Mottolese commented on the deal, sharing: “It is a true privilege to join a business with such a rare combination of existing success and future opportunity. I look forward to building on the strong foundation that Pierre and team have created as we strengthen the Firehook brand, expand the company’s capabilities, and grow its loyal base of consumers.”
Forward Consumer Partners was founded in 2023 by Matt Leeds, following his tenure as a partner at L Catterton where he invested in brands including Cholula, Kodiak Cakes, Everlane, Inspired Pet Nutrition, and others. Firehook’s acquisition marks the first transaction of Forward’s debut fund, which manages a total of $425 million in capital.
“We could not be more excited to partner with Pierre and the talented individuals who comprise the Firehook team,” Leeds said. “We are grateful to have pursued this unique opportunity on a fully proprietary basis, and are honored to be entrusted with the next chapter in Firehook’s evolution.”
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Finlay Bruce Promoted to Senior Investment Banking Analyst
Finlay Bruce has been promoted to senior investment banking analyst at Novelty Hill Capital. Since joining the firm as an analyst in 2022, Finlay has contributed significantly to our operations with a deep expertise in accounting and tax. In his new role as Senior Analyst, Finlay is set to leverage his skills and insights further to propel Novelty Hill forward, driving transactions and continuing our tradition of delivering exceptional client results.
Before joining Novelty Hill, Finlay served as a Tax Consultant at Deloitte, where he helped prepare tax returns for multinational private equity firms and high-net-worth individuals. Finlay is also a fully licensed CPA in the state of Washington.
A proud alumnus of the University of Washington Foster School of Business, Finlay holds a bachelor’s degree in accounting and a master’s in taxation, underpinning his valuable input to our team.
Nathan Miller Promoted to Director at Novelty Hill Capital LLC
Nathan Miller was recently promoted to Director at Novelty Hill Capital. Since joining us as Vice President in January 2022, Nathan has been an essential part of the firm, bringing strategic leadership and instrumental guidance in steering complex transactions to successful completion while showcasing his exceptional command over the intricacies of financial analysis. Miller joined Novelty Hill from Meridian Capital, a Seattle-based investment bank, where he served as Vice President supporting consumer-focused transactions.
Before joining Novelty Hill, Nathan honed his financial services expertise at Arlington Capital Advisors and KPMG. Miller is an alumnus of the University of Alabama’s Culverhouse College of Business where he earned a Bachelor’s degree with a dual focus on Finance and Accounting.
Novelty Hill Advises Fassio Egg Farms in Sale to Cal-Maine Foods
SEATTLE, WA – October 4, 2024: Novelty Hill Capital, a leading middle-market consumer, food and agribusiness investment bank based in Seattle, Washington, is pleased to announce that Utah-based Fassio Egg Farms Inc., a prominent cage-free egg producer, has been acquired by Cal-Maine Foods Inc. (NASDAQ: CALM). For over a century, Fassio Egg Farms has been a staple of conventional and cage-free egg production, contributing to Western US regional economies and setting standards for ethical farming practices.
The transaction, exclusively advised by Novelty Hill Capital, signals an important step for the egg industry as it adapts to the changing landscape of agricultural food production and consumer expectations.
"The integration of Fassio's assets significantly bolsters our capabilities, particularly in cage-free egg production,” Sherman Miller, CEO of Cal-Maine Foods, said. “We're thrilled to build upon our footprint in Utah and the broader Western market, honoring Fassio's reputation for quality since 1915 and reinforcing our commitment to customers and shareholders."
The deal includes the acquisition of Fassio’s assets, which comprise commercial shell egg production and processing facilities in Erda, Utah, outside Salt Lake City.
Vinnie Fassio, owner of Fassio Egg Farms, reflected on the family-owned company’s journey and the significance of the acquisition: "Working with Novelty Hill Capital preserved the legacy of Fassio Egg Farms, while paving the way for an exceptional outcome for our family. Their strategic insight and dedication to our vision throughout the process was an invaluable resource in completing this transaction."
Fassio added, "Joining forces with Cal-Maine Foods opens exciting new opportunities for the farming and production operations, employees, and communities we serve while maintaining the integrity and excellence that Fassio Egg Farms has built over the past century. The combined resources of Fassio and Cal-Maine will assist in navigating the changing industry landscape and opportunities that lie ahead."
Michael Barber, CEO and Managing Director of Novelty Hill Capital, expressed his enthusiasm for the successful acquisition, stating, "This transaction is a testament to Novelty Hill Capital's dedication to serving our client’s best interests and bringing the breadth and depth of our M&A experience to bear, ensuring their strategic objectives are met with the highest standards of excellence. This is more than a deal. This a strategic step forward for Fassio Egg Farms and a clear indication of our capability to navigate complex negotiations to secure the best possible outcome for our clients."
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Novelty Hill Capital Advises Harbor Wholesale on Pivotal West Coast Acquisition
November 22, 2022 - Novelty Hill Capital, a leading middle market consumer investment bank based in Seattle Washington, is pleased to announce that its client, Harbor Wholesale, a subsidiary of Harbor Foods, the Northwest's top family-owned, independent distributor, has completed its acquisition of MTC Distributing Co., a wholesale distribution company.
The partnership with MTC Distributing Co. will expand Harbor’s presence in Northern California as it continues to provide the highest level of customer service to its clients. The combined 200 years of market leadership forms the premier customer-focused and family-owned distribution company on the West Coast.
"This is an incredible opportunity to bring our family companies together into the 4th generation and beyond, maintaining and enhancing the culture that's made MTC and Harbor successful for a century. MTC celebrated 100 years in 2021, and Harbor will join them in 2023. We look forward to entering our next 100 years with an incredible team of industry professionals who share common values and a similar obsession with our customers' success." said Harbor Foods CEO and 4th Generation Owner Justin Erickson.
Tom Eakin, CEO & 3rd generation owner of MTC Distributing said "with the industry constantly evolving; we are taking the opportunity to bring two like-minded, independent companies together. I trust Harbor to carry on the MTC legacy and provide the solutions our retail and foodservice customers need today and into the future. Harbor's extensive experience in foodservice, branded programs, fresh foods, and innovative marketing and technology will allow our incredible team to bring even greater value to our customers."
The combined companies will operate 4 distribution centers across the West Coast, servicing customers from central California to the Canadian Border. The combined companies will leverage more than $1 Billion of collective purchasing power to provide top level results for its customers.
About Harbor Foods
Founded in 1923, Harbor Foods is dedicated to supporting the local entrepreneurs that provide jobs in their communities, bring convenience to busy lives, and invite us all to experience life around the table. Recently, Harbor is proud to have received one of the coveted 2022 Washington's Best Workplaces Awards, as well as one of Washington's Fastest-growing Private Companies. As the largest independent 4th generation family-owned distributor in the West, Harbor now employs over 800 team members and services over 6,000 convenience stores, independent grocers, and quick-serve restaurants with a wide selection of local and national branded products. Harbor Wholesale operates 4 distributions centers in Lacey, WA, Portland, OR, Roseburg, OR, and the newly added Modesto, CA, distribution center. For additional information, please visit us at harborfoodservice.com or harborfoods.com.
About NW Foodservice Inc.
MTC Distributing Co. was founded in 1921 by the Herbert Eakin in Modesto California. The company was initially named the Modesto Tobacco Company however, it quickly expanded its collection of product offerings over the years. In 1986 the business was purchased by Tom Eakin and renamed MTC Distributing to better reflect the evolution of the company’s product categories. After 100 years, the MTC team is looking forward to its next chapter with Harbor Wholesale, remaining open to innovation and putting customer satisfaction first, as it has throughout its storied history.
About Novelty Hill Capital LLC
Novelty Hill Capital is a leading middle market investment bank and financial advisory firm with expertise in mergers and acquisitions, raising capital and evaluating strategic alternatives. Our team possesses decades of combined experience leading successful M&A and investment processes for prominent privately held companies and industry pioneers throughout the entire consumer and technology value chains.
Novelty Hill Capital Welcomes Finlay Bruce as Our New Analyst
Novelty Hill is pleased to announce that Finlay Bruce has been hired as a key addition to our growing firm. Finlay brings an accounting and tax background to the team from his previous work at Deloitte. Finlay is a graduate of the University of Washington Foster School of Business with a degree in accounting and Master’s in taxation. Novelty Hill is excited for Finlay to grow as a colleague as we continue to drive transactions and achieve successful results for our clients.
About Novelty Hill Capital LLC
Novelty Hill Capital is a leading middle market investment bank and financial advisory firm with expertise in mergers and acquisitions, raising capital and evaluating strategic alternatives. Our team possesses decades of combined experience leading successful M&A and investment processes for prominent privately held companies and industry pioneers throughout the entire consumer and technology value chains.
Novelty Hill Capital Advises Harbor Foodservice in Acquisition of NW Foodservice
October 21, 2022 - Novelty Hill Capital, a leading middle market consumer investment bank based in Seattle Washington, is pleased to announce that its client, Harbor Foodservice, a subsidiary of Harbor Foods, the Northwest's top family-owned, independent distributor, has completed its acquisition of NW Foodservice, a broadline foodservice distribution company.
The partnership with NW Foodservice will expand Harbor’s presence in Southwest Washington and Northwest Oregon as it continues to provide the highest level of customer service to its clients.
"Joining forces with the NW Foodservice team represents the perfect addition of like-minded team members driven to provide the highest level of products and service to their customers. Their proven track record in being a local solution to restaurants and convenience stores bolsters Harbor's efforts to provide a trusted independent local option to the communities we serve", said Harbor Foodservice President Kevin Pribilsky.
Michael Donaldson, President of NW Foodservice, said, "Joining the Harbor Foodservice team allows us to still be family-owned to still be local, and to still provide the inspired customer service experience that our customers have known and loved for the last 68 years".
The combined companies will serve more that 4,900 customers across the Pacific Northwest and have more than $1.5 Billion of collective purchasing power.
About Harbor Foods
Founded in 1923, Harbor Foods is dedicated to supporting the local entrepreneurs that provide jobs in their communities, bring convenience to busy lives, and invite us all to experience life around the table. Every day. Recently, Harbor is proud to have received one of the coveted 2022 Washington's Best Workplaces Awards, as well as one of Washington's Fastest-growing Private Companies. As the largest independent 4th generation family-owned distributor in the west, Harbor now serves over 8,000 restaurants, convenience stores, independent grocers, and quick-serve restaurants with a wide selection of local and national branded products. For additional information, please visit us at harborfoodservice.com or harborfoods.com.
About NW Foodservice Inc.
NW Foodservice started as a small meat market in 1954, owned by the Reichert family. After four generations in the meat business, Roy Reichert's son John grew the company in a new direction, moving Reichert's Meats to Longview/Kelso from Chehalis, WA, creating NW Deli Distribution. The company grew into a broadline distributor supplying various products to a broad range of customers, from restaurants, pubs, and schools to convenience stores, daycares, and delis.
About Novelty Hill Capital LLC
Novelty Hill Capital is a leading middle market investment bank and financial advisory firm with expertise in mergers and acquisitions, raising capital and evaluating strategic alternatives. Our team possesses decades of combined experience leading successful M&A and investment processes for prominent privately held companies and industry pioneers throughout the entire consumer and technology value chains.