Spector & Co. Enters Deal With Blue Point Capital Partners
First announced Wednesday in a PPB Newslink Breaking News alert, supplier Spector & Co. (PPAI 168328) has partnered with private equity firm Blue Point Capital Partners to recapitalize the company and prime it for future growth.
CEO Rob Spector, who retains 25 percent ownership of the company in the deal, and his father, Allen, acquired the company that would become Spector & Co. in 1991, and in the past 27 years have grown it from five employees in an 8,000-square-foot facility to 400 employees in more than 100,000 square feet of office, factory and warehouse space.
“Our new partners have come to appreciate the Spector culture and philosophy,” says Spector. “I, along with my management team, am truly psyched to be working with Blue Point Capital to bring Spector & Co. to even newer and brighter heights. If it’s even possible, I am more energized and reinvigorated as I look forward to the future and the next generation of our company and our industry.”
In a news release, Jeff Robich, a principal with Blue Point, stated, "Spector & Co. is built on a longstanding tradition of excellence and a culture committed to serving its customers. Rob Spector and his team have created an industry leader in the promotional products category, and we look forward to a partnership that will support the company's growth strategy."
Spector & Co.'s leadership and staff will remain in place and, in the near term, clients should not experience any changes. Looking ahead, Spector tells PPB Newslink that it expects to expand into new areas through organic growth and possible acquisitions. He says, “I think that on the supplier side, the future of our industry in the next five to 10 years will see few dozen mega suppliers as acquisitions consolidate the field. We want to be one of those companies. What we have built at Spector as far as our knowledge and experience, I think we can replicate within other companies.”
Chip Chaikin, a partner with Blue Point, also stated in the release, “What really attracted us to Spector is the strong culture of the company and their close ties to their customers and suppliers. It is also a great fit for us. As first institutional capital, we see several attractive opportunities that align with our toolkit. The company has strong systems and management in place and is primed for tremendous growth. We are thrilled to partner with this esteemed team."
Spector & Co. has developed its core product categories, but its CEO notes the company is on the lookout to add new categories as well as grow organically. He says, “We’ve elevated ourselves to a point where we are respected by our peers and we want to continue to perform by selling premium products. We’re focused on uniqueness and innovation in merchandise, decoration and branding. It is important to us to take the end user’s message and showcase it in unique and interesting ways.”