PHILADELPHIA--(BUSINESS WIRE)--Mufson Howe Hunter (“MHH”), an investment bank serving companies in the middle market, is pleased to announce that Eureka Growth Capital has sold Cherry Hill Holdings, Inc. (“Cherry Hill Photo”) to Keystone Capital, Inc. (“Keystone Capital”). MHH acted as the exclusive financial adviser to Cherry Hill Photo. Terms of the transaction were not disclosed.
Cherry Hill Photo is a leading provider of mall-based holiday photography services. Founded in 1961 and headquartered in Marlton, NJ, Cherry Hill Photo manages on-premises Santa and Easter Bunny photography programs for over 300 mall locations across North America. The company provides a full turn-key service offering, which includes a complex array of services including Santa and Easter Bunny placement, requisite support staff, photography service delivery, product merchandising and customer service during the Christmas and Easter seasons.
Ed Warchol, CEO of Cherry Hill Photo, commented, "MHH's team did a fabulous job of identifying the value proposition of Cherry Hill Photo and conveying that to the market. They were able to take away a great deal of the 'heavy lifting' from the management team throughout the process. This resulted in a highly successful outcome to the owners and management of Cherry Hill Photo."
Chris Hanssens, Managing Partner of Eureka Growth Capital, added, "We were extremely impressed with how Peter Hill and his team were able to identify the right buyers to introduce to the Cherry Hill Photo opportunity and how well they were able to prepare the management team to convey the story succinctly and accurately to this diverse group of interested parties."
Eureka Growth Capital is a private equity firm focused on investing in and building niche-market leaders at the lower end of the middle market.
Keystone Capital is a private investment firm comprised of professionals distinguished by strong investment experience and substantive operating knowledge.
Mufson Howe Hunter, an investment bank established in 2004, focuses on merger and acquisition transactions and the placement of growth capital for middle market companies. MHH's senior investment bankers each have over two decades of professional experience and transactional expertise across many industries, including business services, consumer, financial institutions, manufacturing and retail. MHH advises publicly-traded and privately-held companies, including family-held and private equity-backed businesses.