Other News

September 2022 – $30 Million Credit Facility for Consumer Installment Lender

Arranged $30 million senior secured debt facility arranged for an online consumer installment lender. the group provides installment loans to underserved sub-prime consumers across the United States, to support their personal cash needs. The Company has over a ten-year track record in consumer lending, and this new senior facility will enable them to scale their business.

June 2022 – £50 Million Co-Invest Vehicle for CRE Bridge Lender

Arranged £50MM JV-programmatic co-investment vehicle for a private CRE bridge lender based in the UK. The group provides highly structured mezzanine loans to UK-based commercial real estate developers with a JV component as part of the overall structure to actively engage and manage the development process and risk. The JV capital raised from an institutional investor will be deployed across various property types and is focused on value add opportunities.

June 2022 – $30MM Co-Invest Vehicle for Mortgage Servicing Company

Arranged $30MM co-invest vehicle for a private fully-licensed, GSE approved Client. The group provides institutional clients with the opportunity to participate in the niche Mortgage Servicing Rights (“MSR”) asset class as an inherent interest rate hedge and as a direct investment as well. The invested capital will be used to purchase pools of bulk and flow MSRs on the behalf of institutional clients based upon their individual respective risk/return parameters.

May 2022 – $25MM Fund Leverage Facility for a Credit Fund

Arranged $25MM fund leverage facility for a long track record Credit Fund client arranged by our Fund Finance Division. This facility allows the group to enhance returns and use the leverage to continue growing their platform. A pool of specific loans were carved out of the primary fund into an SPV to support this facility.

May 2022 – $100MM Credit Facility for Real Estate Asset Manager

Arranged $100MM credit facility for a long track record Real Estate Asset Manager who currently has more than 90,000 acres of land and manages over $3 billion of real estate assets. This facility will be used to purchase land that has been identified by one of the largest national homebuilders for their near-term single-family home development pipeline. These assets are expected to cash flow within 6-24 months.

March 2022 – $80MM Debt Facility for Multi-Family Real Estate Development

Arranged $80MM debt facility for a long track record real estate sponsor in the Southeast United States. This bridge and construction facility will be used to develop a multi-family development on a 600-acre master plan community. The group has purchased more than 28 projects representing 2,600+ entitled acres and 6,000+ units.

January 2022 – $150MM Litigation Finance Credit Facility

Arranged $150MM credit facility for an institutional caliber litigation finance lender which specializes in originating and underwriting loans that have a first priority claim on all revenues generated by the case collateral. In addition, all of our client’s loans have full recourse to the borrower and have a personal guarantee by all equity partners of the law firm.

December 2021 – $300MM Asset Management Transaction

Arranged $300MM tranche of an asset management assignment for a client that is an institutional credit manager for many institutional groups that have yield requirements. The group has a long track record fixed income / credit group that has the ability to structure portfolios for investors that are seeking yield based on their specific requirements.

September 2021 – $110MM Debt Facility for Real Estate Family Office

Arranged $110MM debt facility for an institutional caliber real estate family office with an AUM over $1.3BNN. The Family focuses on the development and management of Class A multifamily real estate projects. Previously, the Family had found success in Northeastern Ohio and Michigan acquiring Class B and Class C deferred maintenance, value-add properties from 2003-2015, managing over 10,000 multifamily units at its peak. Since then, they have zeroed in on Florida as an opportunity for expansion due to changing population trends, pivoting to Class A new construction to capitalize on favorable land and construction costs.

September 2021 – $300MM for a Private Real Estate Lender

Arranged $300MM credit facility for a private real estate lender who lends across all property types in North America.

July 2021 – $265MM for ESG Focused Specially Finance Company

Arranged $265MM transaction which includes equity, debt, and mezzanine capital for an Environmental, Social & Governance (ESG) mission-oriented specialty finance company.

April 2021 – $300MM for a Specialty Finance Company

Arranged $300MM Credit Facility for a Specialty Finance client that is growing rapidly in the Asset Management and Alternative Investments worlds.

February 2021 – Reproductive Solutions Inc. was acquired by a private entity

Avalon Securities Ltd. acted as the capital and transaction advisor to Reproductive Solutions Inc and a strategic acquirer for scaling and commercialization of a disruptive medical device.

Q1 2021 - Ronny Kobo Enters Into A Strategic Partnership

Avalon Net Worth's apparel industry client made a strategic investment in Ronny Kobo, a leading contemporary apparel brand.

Q4 2020 - $40MM for an Advanced Materials Company

Arranged $40MM in equity financing for an advanced materials company. The Client is entering the advanced materials (metal powder) market to supply the expanding 3D printing and advanced manufacturing sectors. They are developing a distribution business to improve customer experience for procuring quality powders in the advanced manufacturing sector. They are constructing an advanced, cost effective and environmentally efficient metal powder production facility utilizing the company’s patent pending process and technology. Their production method can utilize eco-friendly materials while also improving the quality of metal powders available in the expanding market.

Q4 2020 - $17MM for an Accounts Payable Payment Lender

Arranged $17MM in equity and debt financing for a leader in Accounts Payable (AP) Payments. The client is a developer of a smart b2b payment network designed to simplify accounts payable payments, generating revenue and cost savings while offering complete transparency and control of the payment process. The company's platform eliminates paper-based cheque, enabling businesses to transfer payments directly to suppliers' and sellers' bank accounts. The investor we brought into fund the transaction is a private institutional investment management firm specializing in asset-based private credit and structured credit.

Q4 2020 - $20MM+ for a Specialty Finance Lender

Arranged a $20MM+ refinancing of a Senior Credit Facility for a national specialty finance company. This specialty finance client has deep experience in working with middle market companies to help provide commercial mortgage capital for complex transactions across multiple property types and geographies.

September 2020 – Avalon Net Worth Awarded Closed Deal Badge from Axial

We are pleased to announce that, in recognition of transactions closed since the March 13th, 2020 Declaration of National Emergency, Avalon Net Worth has been awarded the COVID-19 Closed Deal Badge by Axial Networks, Inc.

The Closed Deal Badge specifically noted the successful close of an equity investment for our client Micropore, Inc., an innovator of fine powder chemistry adsorbent products, by Phoenix Venture Partners, a leading venture capital firm specializing in advanced materials. The investment by Phoenix Venture Partners together with existing stakeholders increased equity capital by $12 million. Avalon Net Worth has also arranged two other equity and three new debt transactions during this period.

We appreciate this recognition by Axial, a private deal network serving professionals who own, advise, and invest in North American lower middle market companies.

Contact Lynda Davey (917-539-0006 or ldavey@avalonnetworth.com) or Jack Hendler at (201-390-3600 or jhendler@avalonnetworth.com) if you would like to confidentially discuss ways Avalon Net Worth can assist your company.

June 2020 - Phoenix Venture Partners invests in our client Micropore, Inc.

Avalon Securities, Ltd. is pleased to announce an investment by Phoenix Venture Partners https://phoenix-vp.com/, a leading venture capital firm specializing in advanced materials, in our client, Micropore, Inc. http://microporeusa.com/, an innovator of fine powder chemistry adsorbent products. Together with existing stakeholders, Phoenix’s investment increases equity capital by $12 million.

March 2020 – SmartLabs Expands to California

Avalon’s client, SmartLabs, has announced a national expansion of their Boston-based operation with the addition of an 80,000 square foot location in South San Francisco CA. As the leader in Laboratory-as-a-Service (LaaS), Smart Labs will use its recently completed $36 million Series A funding to expand nationally and to invest further in its proprietary modular R&D lab design and construction as well as full-service facilities and compliance management for pharmaceutical/life science companies.

March 2020 - Arranged an Equity Investment for an Energy Storage Company

Arranged an equity investment for a company that develops and manufactures energy storage products (batteries) and specializes in green battery technologies.

January 2020 - $20MM for a Land Development Company

Arranged $20 million in structured credit to a land development company that specializes in the development of affordable and market rate housing.

January 2020 - Watch Roller Rabbit Run

As we transition into the New Year, we take time to reflect on a previous success. In October 2017, Avalon Net Worth acted as transaction advisor for Roberta Roller Rabbit, a retail and wholesale brand of travel-related apparel and accessories that was experiencing financial stress. We identified a private investor who proceeded to streamline and turn around the operations, resulting in a success story described in the December 30, 2019 issue of Women’s Wear Daily—a link to a PDF of the story is immediately below.

We would welcome the opportunity to discuss, confidentially, your stressed or difficult-to-market client or portfolio company!

They are handled with the same professionalism and tenacity as the healthy companies we market to a “successful conclusion”.

January 2020 - SmartLabs To Launch in Taiwan

Boston-based SmartLabs, a leading life sciences labs as a service company, will establish a biomedical entrepreneurship base at Hsinchu Biomedical Science Park in northern Taiwan, from which it will be linked to the country's universities, related organizations and firms, hospitals and biomedical industry. SmartLabs is the industry leader in providing on-demand pharma-grade research environments to accelerate scientific discover and therapeutic commercialization. SmartLabs focuses on accelerating startups engaged in R&D of treating cancers and rare diseases and has incubated six of the globally top-10 gene editing startup businesses including Editas Medicine and CRISPR Therapeutics.

December 2019 - Avalon Securities, Ltd. served as the Advisor and Placement Agent for a Life Science Co-Working Space Company

Series A equity financing arranged for a four-year-old company providing complex co-working space and services to the life sciences industry in multiple US locations. The company needed investors who understood the life sciences and real estate industries. Avalon identified a family office and private equity firm with relevant industry experience to complete the transaction. Funds will be used to enable expansion to additional locations throughout the US and internationally.

Q4 2019 - $50MM for a Specialty Finance Lender

$50 million Senior Debt facility arranged for a national specialty finance company that provides consumer-oriented loans and purchases consumer receivables across a number of consumer sub-categories. Our Specialty Finance Group introduced the company to a lender with experience across multiple asset classes and with the ability to scale its facility to accommodate their growth.

November 2019 - Lynda Davey to coach at the 2020 Women On Boards National Conversation

Avalon Net Worth co-CEO, Lynda Davey, will be serving as a “Director Coach” at this year’s 2020 Women On Boards National Conversation on Board Diversity event on December 6, from 11:30-2pm at the InterContinental Barclay in midtown Manhattan.

The VIP Keynote panelists are:

Virginia Gambale, Managing Partner, Azimuth

Board Director, Chair of Compensation Committee, Audit Committee Member JetBlue Airways

Board Director, Chair of Technology Committee Regis Corporation

Dr. Maria Rivas, Chief Medical Officer, Merck

Member, Board Of Directors Medidata Solutions

Glenda McNeal, President, Enterprise Strategic Partnerships, American Express

Member, Board of Directors Nordstrom

Scott Salmirs, President and CEO, ABM Industries

June 2019 - Avalon Net Worth assisted in the sale of International Granite & Marble Corp.

The assets of our client, International Granite & Marble Corp., an importer of fine architectural goods since 1948, have been acquired by Cosmos Granite & Marble. IGM, with 5 locations between Texas and New England, was acquired by a 15-location competitor, Cosmos Granite & Marble.

March 2019 - Avalon Net Worth assisted in the sale of the assets of Notations, Inc.

Avalon arranged for Notations, a mid-tier women’s sportswear company founded in 1979, to be acquired by a Vietnamese factory group via a UCC Article 9 Foreclosure transaction.

March 2019 - Hex Performance hires new CEO, plans Boulder operation

Hex Performance LLC, a line of eco-friendly cleaning products for activewear fabrics, has a new CEO and will open a dual headquarters in Boulder.

Tom Arcuri will serve as CEO, starting immediately. Arcuri’s background is in consumer packaged goods category, most recently at Ripple Foods, Celestial Seasonings and Method.

“With the rise in popularity of premium athleisure and the boom in the wellness industry amongst millennials, Hex Performance is at a pivotal position to grow as a leading fabric care solution for the next generation of laundry-doers,” Drew Westervelt, founder of the company, said in a prepared statement. “Tom’s leadership approach combined with his experience in the cleaning space and his astounding success at building start-ups will be critical as we bring Hex into a new chapter.”

Westervelt, a former pro-athlete, creating Hex Performance in 2016 after experiencing challenges with traditional detergents.

The company was founded in Baltimore but as it plans to grow will be dual located in Boulder and Baltimore, a spokesperson for the company told BizWest.

Hex is found in more than 2,500 retailers, including Target and Amazon.

Arcuri will oversee retail and marketing for Hex, with a focus on leveraging the company’s patented technology of more effectively cleaning performance fabrics.

“I am ecstatic for the opportunity to work with HEX Performance, a game-changing product and the incredible people behind it,” Arcuri said. “The innovative HEX technology that drives the product’s unparalleled performance is an exciting starting point to build a powerful brand in the cleaning category…

Avalon Securities, Ltd. has acted as exclusive Advisor and Placement Agent to Hex Performance.

Avalon Securities, Ltd. served as the Advisor and Placement Agent for Green Dot Bioplastics

February 2019 - Avalon Securities served as placement agent and financial advisor to Green Dot Bioplastics which has closed a $6.5mm Series A funding. Funds will be used to expand the company’s product portfolio and expand production capacity. Green Dot is a leading innovator in the development and production of bioplastic materials which provide sustainable and biodegradable alternatives to petroleum-based plastic materials.

——

Kansas-based material science company, Green Dot Bioplastics has completed a $6.5 million Series A Preferred Round of financing. Fulcrum Global Capital led the investment round with the participation of existing and new investors, including Open Prairie through its Open Prairie Rural Opportunities and iiM (Innovations in Motion).

As awareness of the problems associated with traditional plastics continues to grow, demand for more sustainable solutions has also risen. In response, the bioplastic sector is predicted to grow at a brisk pace of 18.8% CAGR to reach more than $68 billion by 2024. To capitalize on this opportunity, Green Dot will use the funds raised to implement management’s strategic plan in key areas: accelerate organic growth, develop and commercialize new bioplastic products and uses and invest in new IP and capabilities.

Green Dot Bioplastics began formal operations in 2011, introducing the market’s first compostable elastomeric bioplastic – a soft rubber-like plastic that is strong, pliable,  nd biodegradable. In 2013, Green Dot acquired a state-of-the-art research facility and commercial manufacturing plant. The Company now offers a full line of bioplastics and biocomposites used in footwear, textiles, home furnishings, electronics cases, pet supplies, toys, outdoor recreation, lawn and garden, horticulture and construction.“We are delighted to team with Fulcrum, Open Prairie and iiM as we aggressively move to accelerate our growth,” said Mark Remmert, CEO, Green Dot Bioplastics. “I am personally excited to have these highly regarded institutional investors join our Board of Directors and bring their leadership and professionalism to partner with our original investors and management. Together, we are a talented and motivated team seeking to make lasting change for the planet.” 

Duane Cantrell, Managing Partner and CEO of Fulcrum Global Capital noted, thatwith the increasing global challenge of plastic pollution, ‘we are excited to invest in a company using agricultural by products to provide corporations with near-term solutions for truly biodegradable products and packaging that can reduce our use of chemical based plastics and begin to eliminate plastic pollution.’ “Green Dot Bioplastics is a leading example of our efforts to support rural-based companies operating at the intersection of science, agriculture, and sustainability. We look forward to working with the Green Dot Bioplastics team as the company enters its next phase of growth and executes on its mission of improving the environment through the implementation of innovative bio-based solutions,” said Matt McKenna, who will represent Open Prairie on the Green Dot Bioplastics Board of Directors.

Avalon Securities, Ltd. served as placement agent and financial advisor to Green Dot Bioplastics which has closed a $6.5,, Series A fundings. - February 2019

Columbia Business School Retail Forum

Managing Director, Richard Jaffe, co-hosted the annual Columbia Business School Retail Forum, August 7, 2019 which was also attended by Avalon Securities CEO Lynda Davey and Managing Director, Patricia Stensrud. Presented by Intel and sponsored by SAP, critical issues and opportunities within our transformational retail landscape were addressed by innovators from Zappos, Intel, Alibaba, Rent-the-Runway, CaaStle, and Kevin Roche. (Link) - August 2019

Opal group - Family Office & Private Wealth Management Forum 2019

Newport, R.I.  - Managing Director Patricia Stensrud attended a dinner hosted by Aon in conjunction with the 2019 Opal Financial Group’s flagship Family Office & Private Wealth Management Forum.  In the course of three days, family offices, private investors, and investment managers navigated their way through the past recession, while continuing to explore the best ways to map out their portfolios. Panel discussions, led by consultants and family offices, covered a wide variety of investment topics including direct investing, impact investing, non-correlated assets, and many more.

The Opal Financial Group’s flagship Family Office & Private Wealth Management Forum, is Opal’s largest family office event in the world

Cyber-security Forum, Oxford, UK

Managing Director, Patricia Stensrud, attended the 3rd Annual Cyber Security Symposium at Oxford University in June. Each year this international event gathers senior government leaders, academic and business cyber experts, and industry leaders for the purpose of sharing present day challenges and potential solutions that can lead to collaborations across geographies. (Link) - June 2019

Hope Funds Honors Top Cancer Researchers

Newport, R.I.   Avalon representatives attended this annual Hope Funds for Cancer Research event where each year it awards postdoctoral fellowships to outstanding cancer researchers and honors other outstanding contributors to cancer research.   Throughout two days of programmatic events, past and new Fellows have the opportunity to present highlights of their research to an audience of experts and investors for feedback and discussion, while the Women in Science Luncheon features leading female scientists and female-led companies involved in cancer research.  The Hope Funds Awards of Excellence recognize outstanding achievements in the field of cancer research, drug development, medicine, patient support and philanthropy.

This year’s honorees are:  John C. Byrd, M.D.  Dr. Byrd is D. Warren Brown Chair of Leukemia Research, Distinguished University Professor of Medicine, and Senior Advisor for Cancer Experimental Therapeutics at The Ohio State University.  Paul Greengard, Ph.D. Dr. Greengard is Vincent Astor Professor, head of the Laboratory of Molecular and Cellular Neuroscience, and since 1995, Director of the Fisher Center For Alzheimer’s Disease Research at The Rockefeller University.  William G. Kaelin, Jr., M.D.  Dr. Kaelin is the Sidney Farber Professor of Medicine, in the Department of Medicine at the DanaFarber Cancer Institute and the Brigham and Women’s Hospital, Harvard Medical School.   Robert S. Langer, Sc.D. Dr. Langer is Institute Professor at the Koch Institute for Integrative Cancer Research at MIT. Dr. Langer has launched over 30 companies and his patents have been licensed to over 350 companies. Antoni Ribas, M.D., Ph.D. Dr. Ribas is Professor of Medicine, professor of Surgery and professor of Molecular and Medical Pharmacology at the University of California Los Angeles (UCLA), Director of the Tumor Immunology Program at the Jonsson Comprehensive Cancer Center, Director of the Parker Institute for Cancer Immunotherapy (PICI) Center at UCLA.

Founded in 2006, the mission of the Hope Funds for Cancer Research is to encourage investigation of innovative cancer treatment and detection for the most difficult-to-treat and understudied cancers. The Hope Funds for Cancer Research supports scientific and medical research programs aimed at increasing knowledge relating to both cancer care and prevention. Programs selected for support are those believed to have the highest probability of success in addressing unmet medical needs, as determined by rigorous scientific and economic analysis.

Sponsors of this year’s event included Pfizer, Moderna, Janssen Onology, Verastem Oncology and A4 Architecture and Planning. - July 2019

Volkswagen Chattanooga's 9th Annual Partnering for Success Conference

Lynda Davey, Avalon Net Worth's Co-CEO, and Managing Director, Patricia Stensrud, spoke alongside Rodney Woods and the Playbook Investor Network team to discuss capital investments for minority owned businesses. (Link) - November 2018

Avalon Net Worth has arranged the acquisition of Concurrent Design by Voltabox

Our client, Voltabox AG, has made its first acquisition since its late 2017 Initial Public Offering. The target company we identified, Concurrent Design of Austin, TX, enhances Voltabox’s capabilities in mobility technologies that focus on lithium-ion batteries and other clean energy solutions. - May 2018

Independent Film Production Company Secures $50MM

$50 million Senior Facility raised for an independent production company in Q3 of 2018.

$180MM ($160MM debt, $20MM equity) raise for a Sub-Prime Consumer Lending Platform

This Company’s equipment and internet platform allows “big box” retailers to provide subprime consumers the opportunity to directly finance retail purchases at the retailer’s point of sale. The Company’s platform has an open end lease structure, a proprietary technology that generates available credit advances and fraud alerts and an infrastructure to monitor, collect and report on portfolio performance.

Specialty Finance Company raised $15MM of Debt

$15 million Senior Secured Debt Facility for a specialty finance company in Q4 of 2018

$100MM of debt raised for a Commercial Real Estate Lender

$100 million Senior Debt arranged for a middle market commercial real estate lender in Q4 of 2017.

The Needlers Night Out to Support Children in Need

More than 200 bankers, factors, lawyers and accountants from The Needlers came out to support the cause.

By David Moin on April 18, 2018

“The best speeches are the short ones,” said Kevin Gillespie, executive vice president and division manager at Wells Fargo Capital Finance, who was honored at The Needlers Foundation annual gala fund-raiser Tuesday night at the Empire Steak House on East 50th Street in Manhattan. Gillespie certainly did keep his remarks tight but the message to The Needlers, a 54-year-old philanthropic organization of bankers, accountants, factors and lawyers involved in the garment industry, was heartfelt. “When I think about The Needlers, I think about the word community — we are a community. We are all tied to the garment industry,” Gillespie said. They also tied together in their charitable efforts, with $250,000 raised on the evening for children’s causes. About half the proceeds have been earmarked to help children undergoing pediatric neurological surgery and specifically the work of two renowned doctors, Alejandro Berenstein, clinical professor and director of the pediatric cerebrovascular program at Mount Sinai Hospital, and Rick Abbott, director of surgical neuro-oncology at the Children’s Hospital at Montefiore Medical Center and professor of clinical neurological surgery and pediatrics at the Albert Einstein College of Medicine. “These doctors donate their time and we support their hospitals,” explained Jack Hendler, chief executive officer of the Avalon Net Worth Group and president of The Needlers Foundation. Berenstein praised “the unbelievable work” of The Needlers and Abbott demonstrated some augmented reality technology under development to underscore how donations not only help children and the hospitals, but also augment research activities. “These doctors are selfless humanitarians,” said Douglas Taliaferro, executive vice president of The Needlers and a senior vice president at Wells Fargo. “They figure stuff out and don’t get patents on them. They help children overcome horrific neurological diseases.” The Needlers next big benefit will be Sept. 6 at the Seawane Country Club in Hewlett Harbor, Long Island, where Cassie Rosenthal, senior vice president of Rosenthal & Rosenthal, will be honored.

Roberta Roller Rabbit has been sold to an investor group

Represented this travel-inspired Retail/Wholesale clothing and home goods Brand based in New York City in its sale to an investor group www.rollerrabbit.com. - October 2017

Consumer Credit Company raised $40MM of debt

$40 million Senior Debt Facility for a subprime consumer credit provider in October 2017.

Global Private Wealth Dallas Forum on Macroeconomics

At the 2017 GPW Dallas Forum our Co-CEO, Lynda Davey, spoke alongside other prominent industry executives regarding the current macroeconomic outlook. - October 2017

Green Dot Bioplastics Receives Bio-based Product of the Year Award at Bio-Based Live Conference

Green Dot Bioplastics was recognized by Braskem, the largest thermoplastic resins producer in the Americas, for its bio-degradable BeginAgain line of John Deere Eco-Rigs toys. - September 2017

Real Estate Portfolio Company raised $60MM of Debt

$60 million Senior Secured Debt Facility for a real estate investment, development and asset management company in Q3 of 2017.

Raised $150MM of debt for a Consumer Finance Company

$150 million Senior Secured Debt Facility arranged for a subprime credit card provider in September 2017.

Retail’s Private Equity Legacy: Big Debt, Big Problems

In an article published by WWD magazine our Co-CEO, Jack Hendler, shares his insight on Private Equity in the Retail space...(Link) - May 2017

Why Millennials and Mid-Market Firms Are a Fashion Match

Apparel magazine published an article where our Co-CEO, Jack Hendler, discusses Milennials and Retail...(Link) - April 2017

Atlantic Street Capital’s portfolio company, Alex Apparel Group, Inc., has acquired Sally Lou Fashions

Represented Atlantic Street Capital and its portfolio company, Alex Apparel Group, Inc., in the acquisition of the target company Avalon Net Worth has identified, Sally Lou Fashions. This transaction positions Alex as an industry leader in both better- and moderate-priced daytime and social occasion dresses. Avalon Net Worth also introduced the Group’s new senior lender pursuant to a full recapitalization of the combined companies. - March 2017

Our Co-CEO, Jack Hendler, has shared his view on the Garment District

Crain's New York Business Newspapers has interviewd our Co-CEO, Jack Hendler, to voice his thoughts and insight on the Garment center location. (Link) - March 2017

ANW has advised on the sale of Jaclyn, Inc. (OTCMKTS:JCLY), to an affiliate of Golden Touch Imports, Inc.

Avalon Net Worth has advised Jaclyn, Inc. (OTCMKTS:JCLY), a $175 million (revenues) multi-line fashion and accessory firm, in its sale to an affiliate of Golden Touch Imports, Inc. - March 2017

Molli Partners LLC has sold its four shoe brands to Teshoeque LLC

We are pleased to announce the asset sale of Molli Partners LLC’s shoe brands, Butter, Skylar Blake, Something Bleu and Dolce Lei to Teshoeque LLC. - February 2017

NorthWrite Inc. has sold two software Energy Information Management Services platforms: Facility WorkSite and Energy WorkSite

Avalon Net Worth worked as an exclusive advisor to NorthWrite Inc. in the sale of its two software Energy Information Management Services platforms: Facility WorkSite and Energy WorkSite to BuildingIQ, a public company. - February 2017

Lynda Davey to speak at the Series: Equity Crowdfunding event

Avalon Net Worth co-CEO, Lynda Davey, to speak at the Series: Equity Crowdfunding Episode #2: 'Angel Investing Through Equity Crowdfunding Websites' event, held on Thursday, February 23, 2017 at 2:00-3:00 PM (CST). The Panelists for this webinar are:

Swati Chaturvedi Swati@propelx.com

Lynda Davey ldavey@avalonnetworth.com

Richard Swart richards@nextgencentral.com

-January 2017

ALOR has licensed its jewelry line to EMA Jewelry

Avalon Net Worth advised our client, ALOR, to pursue a bridal jewelry brand-building strategy to parallel its fashion focus, and identified EMA Jewelry as an ideal licensing partner. - January 2017

AUA Private Equity platform company has acquired Love & Quiches Gourmet's assets

Avalon Net Worth is pleased to announce that Love & Quiches Gourmet has joined the family of dessert brands in the AUA Private Equity platform, Indulge Desserts Holdings, LLC. - December 2016

The Needlers Foundation - Congratulating Jack Hendler, the New President, and a New Membership Invite

The Needlers Foundation raises funds to assist and support the needs of children who require sophisticated neurological treatments and skull restructuring but would otherwise not be able to get this care. The Foundation is totally non-denominational and has assisted children locally and around the world from numerous cultures.

A New Membership gathering will be held July 13th at Arnos Restaurant at 5:30-7:30; please RSVP to join and to learn more about The Needlers Foundation.                    

RSVP to:

Jack Hendler

President, The Needlers Foundation

Co-CEO, Avalon Net Worth

212-278-8200

jhendler@avalonnetworth.com

-July 2016

Balluun Secures a CHF 40 Million Share Subscription Facility to Expand its Global B2B Social Commerce Footprint (2)

Zurich, Switzerland – June 2, 2016: Balluun Ltd (“Balluun”), a Swiss based B2B technology company, announced today that it has signed a binding agreement with a leading consortium of high profile institutional investors (the “Investors”), led by Global Emerging Markets (“GEM”) granting Balluun a CHF 40 million committed Share Subscription Facility (the “SSF”) as of the date Balluun lists its common shares on the SIX Swiss Exchange, which is expected to be completed in Q4 2016.

ANW served as exclusive financial advisor to North American Recovery Management

Arranged $50 Million Private Equity Raise for North American Recovery Management, with intention to acquire a decommissioned paper mill in Maine. The company is in the business of acquiring improvements to commercial real estate assets, managing the demolition, and selling its commodity contents to generate profits. (Link) - March 2016

WomenCorporateDirectors

KPMG Makes Significant Contribution to WomenCorporateDirectors

Avalon Securities is pleased to announce that its client, WomenCorporateDirectors (WCD), the largest global community of women corporate board directors with 3,500+ members serving on more than 7,000 boards around the world, is now the WomenCorporateDirectors Education and Development Foundation, Inc. (the WCD Foundation), a 501(c)(3) not-for-profit organization. To make this possible, U.S. audit, tax and advisory firm KPMG LLP (KPMG), purchased the assets of WCD and contributed them to the WCD Foundation. This contribution, along with increased pro-bono services to be provided by KPMG, marks an expansion for WCD and its capabilities.

“KPMG is making this investment because we embrace the WCD Foundation’s focus on increasing boardroom diversity and advancing leading practices in corporate governance – areas our organization is committed to as well,” said KPMG U.S. Chairman and CEO Lynne Doughtie. “This development -- a continuation of our long-standing relationship with WCD -- will help propel the growth of the WCD Foundation, enabling it to expand its resources and influence in the global business community.”

Susan Stautberg will remain Chairman and CEO of the WCD Foundation. The WCD Foundation will be based in West Palm Beach, FL. “At this point, we are poised for the next level of growth,” said Stautberg, co-founder of WCD and CEO of the WCD Foundation. “In our 15-year history, WCD has become a highly sought-after destination for business leaders seeking to improve their knowledge and skills, and our WCD members and our corporate sponsors and research partners around the world want us to scale up.”

Stautberg continued, “With the support of KPMG – which has been a global lead sponsor of WCD for the past ten years – the WCD Foundation can strengthen its mission to advance best practices in corporate governance, and expand our vision of placing more women on boards and supporting them once they are in the boardroom.”

Under this new structure, the WCD Foundation will expand the existing WCD resources to benefit members and support growth in a number of areas: Increased support of WCD’s 70 chapters worldwide, with seven to eight more chapters to come in the next year. Last year alone, WCD added more than 500 members and launched new chapters from Mongolia, Spain, Kenya and Guatemala to four new chapters in the U.S. More educational and networking events for directors – such as WCD’s prominent Global Institute and other regional Institutes in Asia, Europe, and the Americas – as well as an expansion of OnBoard Bootcamps and other programs for new directors.

Lynda Davey, CEO of Avalon Securities, noted that “we were extremely honored to be selected as WCD’s exclusive financial advisor. We are especially pleased that the transaction structured with KPMG will allow WCD’s continued growth and the creation of increased services for its worldwide members.”

KPMG’s commitment to women’s leadership

KPMG’s support of the WCD Foundation represents a continuation of KPMG’s long-standing relationship with WCD in numerous areas, including chapter launches, global and regional Institutes, event programming, and thought leadership. KPMG partners and professionals have been active in providing support to WCD chapters in more than 60 cities. Most recently, KPMG sponsored the development of the 2015 WCD Thought Leadership Council report on Family Business Governance and the inaugural Family Business Governance Institute held in New York in May. KPMG will become the Global Lead Sponsor of the WCD Foundation.

“We’re excited about the possibilities this development creates for WCD and its members throughout the world,” said KPMG Global Chairman John Veihmeyer. “We remain committed to continuing to help the WCD Foundation expand internationally, providing increased opportunities for women to serve on boards across the globe.”

Continued commitment from additional corporate sponsors Spencer Stuart, JPMorgan Chase, Coca-Cola, Diligent, Marsh & McLennan, McGraw Hill, and Pearl Meyer & Partners are a number of companies who will continue their sponsorship and support to the WCD Foundation.

“Each month, WCD’s momentum is growing,” said Stautberg. “We are making a significant and measurable impact on getting more women into board seats, as board chairmen and nominating committee heads are coming to us for leads on qualified directors. And, just as important, we are providing a much-needed community of fellow women directors – both in regions with a longer history of having women on boards as well as in countries where women directors are truly pioneers.”

“As women around the world gain more presence in corporate boardrooms, the additional resources brought through this development uniquely position the WCD Foundation to deliver even more strategic value to its members,” commented Julie Hembrock Daum, North American Board Practice Leader at Spencer Stuart, a global sponsor of the WCD Foundation and its upcoming global board survey.

“Pearl Meyer values our relationship with the WCD Foundation and continues to benefit from the opportunity to network with its members and to share ideas and new thinking about best practices in corporate and compensation governance,” said Melissa Means, Managing Director at Pearl Meyer, which is a sponsor for WCD’s Thought Leadership Council reports, including the 2014 report on executive compensation.

About WomenCorporateDirectors Education and Development Foundation, Inc. (WCD)

The WomenCorporateDirectors Education and Development Foundation, Inc. (The WCD Foundation) is the only global membership organization and community of women corporate directors, with more than 3,500 members serving on more than 7,000 boards. A 501 (c)(3) not-for-profit organization, the WCD Foundation has 70 chapters around the world, with seven more to launch over the next year. The aggregate market capitalization of public companies on whose boards WCD Foundation members serve is over $8 trillion. In addition, WCD Foundation members serve on numerous boards of large private and family-run companies globally.

WCD Foundation membership provides a unique platform for learning from the intellectual capital of accomplished women from around the world, and the WCD Foundation’s mission is to increase courage, candor, inclusion, and cohesion in the boardroom.

The WCD Foundation has 70 global chapters, located in Arizona, Atlanta, Beijing, Boston, Charlotte, Chicago, Chile, Cleveland, Colombia, Columbus, Dallas/Fort Worth, Delhi, Denmark, Finland, France, Germany, Greater Colorado, Greater New Mexico, Guatemala, Gulf Cooperation Council, Hanoi, Hawaii, Ho Chi Minh City, Hong Kong, Houston, Iceland, Indonesia, Israel, Japan, Kansas City, Kenya, London, Los Angeles/Orange County, Malaysia, Melbourne, Mexico, Milan, Minnesota, Mongolia, Morocco, Mumbai, Netherlands, New York, New Zealand, Nigeria, Northern California, North Florida/South Georgia, Panama, Peru, Philadelphia, Philippines, Quebec, Rio de Janeiro, Rome, San Diego, Sao Paulo, Seattle, Shanghai, Singapore, South Africa, South Florida, Spain, Switzerland, Sydney, Tampa, Tennessee, Toronto, Turkey, Washington, D.C, and Western Canada.

For more information visit www.womencorporatedirectors.comor follow us on Twitter @WomenCorpDirs, #WCDboards.

About KPMG LLP

KPMG is one of the world’s leading professional services firms, providing innovative business solutions and audit, tax and advisory services to many of the world’s largest and most prestigious organizations.

KPMG is the fastest growing Big Four professional services firm in the United States and is widely recognized for being a great place to work and build a career. For the eighth time in nine years, KPMG was named one of the country’s “100 Best Companies to Work For” by Fortune magazine, advancing 17 spots on this prestigious annual list to become the highest ranked of any Big Four firm. KPMG LLP is the U.S. member firm of KPMG International Cooperative (“KPMG International”), a Swiss entity with a global network of 162,000 professionals serving clients in 155 countries. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

Our people share a sense of purpose in the work we do, and a strong commitment to community service, diversity and inclusion, and eradicating childhood illiteracy.

Learn more at www.kpmg.com/us.

About Avalon Net Worth

Avalon Net Worth and Avalon Securities, its FINRA and SEC registered broker-dealer, confidentially provide clients the quality and technical expertise of a major investment bank while maintaining the personal service and efficiency of a boutique firm. Since 1992, Avalon Securities has worked with high caliber, committed business owners, senior executives and entrepreneurs as they have expanded businesses, re-capitalized or re-organized firms, sold or purchased companies, and gained liquidity for themselves and their shareholders. Our clients have ranged from mid-market private companies to Fortune 500 companies to early stage firms. We are located in mid-town Manhattan with a domestic and international network of offices and representatives.

Avalon Net Worth's professionals combine over 300 years of investment banking, operating experience and investing insight. Our executives are major firm veterans who have identified and enhanced value for shareholders in a broad range of industries. As client advocates we have helped clients through many market cycles. We encourage you to contact us to discuss your individual situations and requirements.

-September 2015

The Needlers Foundation Honors Jack Hendler at Its Annual Golf Outing Event

To join Jack and play at this outstanding course or just donate to this great cause, please visit:http://www.needlers.org/NYC-Long-Island-Golf-Charity-Children-2015.html

The Needlers Foundation is a not-for-profit philanthropic organization, which contributes exclusively to children’s charities. It was founded approximately 50 years ago by a group of garment center executives to benefit children in need. The Needlers primary goal is raising funds and bringing awareness to benefit pediatric neurosurgery and to help sick and underprivileged children. Today, its membership includes those in allied industries as well as lawyers, CPAs, bankers, doctors and health care professionals who have helped raise millions of dollars for children’s charities. - August 2015

Scott Kay, Inc.

Avalon Net Worth is pleased to announce that our client Scott Kay, Inc., a prominent designer of Fine Bridal and Fashion Jewelry for women and men, has been acquired by Frederick Goldman, Inc. - February 2015

Lynda Davey to speak at the Women in the Boardroom Event

Avalon Net worth Co-CEO Lynda Davey to speak at the Women in the Boardroom event held Tuesday, November 18th from 3-6PM. (Link)

Congrats to Avalon's Advisor William Nix: Executive Producer of The Prophet

Los Angeles, California - We congratulate William Nix for his role as Executive Producer of the highly anticipated animated motion picture, Kahlil Gibran's The Prophet. - October 2014

Soft-Tex International, Inc.

Avalon Securities is pleased to announce that our client Soft-Tex International, Inc. has received an equity investment from Hudson Ferry Capital. - June 2014

Hudson Ferry Capital invests in Soft-Tex International, Inc.

New York, NY - (Press Release) - Hudson Ferry Capital is pleased to announce that it made an investment in Soft-Tex International, Inc. ("Soft-Tex") on May 16, 2014. (Link)

Thro, Ltd.

Avalon Net Worth is pleased to announce that our client Thro, Ltd., a producer of pillows, throws and other soft home products, has been sold to the Home Décor Companies, a portfolio company of Linsalata Capital Partners. - January 2014

Avalon Net Worth’s Client In Pursuit of Acquisition of Jones Group’s Footwear

By EVAN CLARK

A PIECE OF JONES: The would-be bidders for pieces of The Jones Group Inc. are lining up, but the process — which is being run by Citi — is still focused on selling the entire apparel and footwear businesses separately or the whole company outright. Toronto-based Sherson Group, a longtime licensee of Jones' Nine West footwear brand, has hired investment bank Avalon Net Worth to pursue an acquisition of the moderate footwear business, which includes Nine West, Bandolino and other brands.

"They've engaged us to get to Jones and see whether we're able to extract that piece," said Jack Hendler, president of Avalon. "They want to make sure it falls into the right hands."

The licensee has some company in the wings. Delta Galil Industries Ltd. is also believed to be interested in buying the Gloria Vanderbilt business. And a source close to the situation said, "Every garmento in New York has come out of the woodwork" wanting a part of the company. The source cautioned that not all of the expressions of interest are credible. - August 2013

Avalon Net Worth CEO, Lynda Davey Appointed as Chairman of the Board for Wet Seal

FOOTHILL RANCH, Calif.--(BUSINESS WIRE)-- The Wet Seal, Inc. (Nasdaq: WTSLA), a leading specialty retailer to young women, announced the appointment of four new members to its Board of Directors and the appointment of Lynda J. Davey as Chairman of the Board. The Board of Directors also established chairmen and members for the Nominating and Governance, Compensation and Audit committees of the Board.

New Board Members

Effective October 4, 2012, four new Directors joined the Company's Board of Directors: Dorrit M. Bern, Lynda J. Davey, Mindy C. Meads and John S. Mills. Today, Ms. Davey was appointed the Chairman of the Board. The newly appointed Directors filled four vacancies created by the resignations of Harold D. Kahn, Jonathan Duskin, Sidney M. Horn and Henry D. Winterstern. The new Directors joined continuing members Kathy Bronstein, John D. Goodman and Kenneth M. Reiss.

Lynda J. Davey has served as Chairman and Chief Executive Officer of Avalon Group Ltd, a boutique investment bank, and Avalon Securities Ltd, one of the few woman-owned FINRA and SEC-registered broker-dealers, since she co-founded the companies in 1992. Prior to Avalon, Ms. Davey was President of Tribeca Corp., a merchant bank, and worked at Salomon Brothers Inc. Ms. Davey currently serves on the board and chairs the Audit Committee of the Girl Scouts Council of Greater New York and is a Manager of Verite Capital Partners, LLC, a private investment fund. She also served on the Advisory Council of Wells Fargo's Capital Finance Group and its predecessor entity, the Paragon Capital Retail Group. She has previously served as a board member and Chairman of the Audit Committee for ICTS International, and as a board member of Tuffy Associates Corp., Jane Cosmetics, and Textus Industries, Inc. In addition, Ms. Davey was a founding member of the Advisory Board of the Fashion Institute of Technology's Center for Design Innovation.

Ms. Davey commented, "On behalf of the all of the Company's new Directors, we are very pleased to be joining the Board of Directors of Wet Seal and look forward to working with the other members of the Board to assist in developing a strategic plan that will rejuvenate sales and improve profitability. Wet Seal has a strong heritage in the junior and young contemporary retail spaces, with a significant opportunity to achieve strong sales and earnings growth over the long term with the right leadership in place. With the inclusion of new members, the Board of Directors possesses extensive backgrounds in the apparel retail industry, including in the areas of operations, finance and merchandising, as well as experience in turnaround situations. I strongly believe that, collectively, we have the qualifications necessary to put Wet Seal on the path to recovery."

Dorrit M. Bern served as Chairman of the Board, Chief Executive Officer and President of Charming Shoppes, Inc. from 1995 to 2008. During her tenure Ms. Bern grew the corporation from a $1 billion single-channel, bricks-and-mortar retailer, to a $3 billion multi-channel corporation. Prior to that time, Ms. Bern was Group Vice-President of women's apparel and home fashions for Sears, Roebuck and Co. Ms. Bern served on the board of directors of Southern Company, Brunswick Corporation and OfficeMax Inc. In addition, Ms. Bern was a trustee for Pennsylvania Real Estate Investment Trust, a REIT specializing in shopping malls and power centers in the eastern United States.

Mindy C. Meads held the position of President and Co-Chief Executive Officer of Aeropostale, Inc. from 2007 to 2010, where she reinvigorated the merchandise assortment, strengthened the fashion value equation and led the development and successful launch of "P.S.," Aeropostale's Kids Division. Prior to this, Ms. Meads served as Chief Executive Officer of Lands' End, the apparel retailer that is now a division of Sears Holding Corporation. Prior to that time, Ms. Meads held a variety of executive merchandising and operating positions at Lands' End, Sears, Gymboree, The Limited and R.H. Macy's. She is a former director of the Federal Reserve Board for the 7th District (Chicago) and currently serves on the board of directors of Mela Sciences, Inc. and is a member of The Committee of 200, America's Women Business Leaders.

John S. Mills has served as President of SDE, a consulting firm that specializes in the retail sector, store operations and growth strategies, since 2006. From 2004 to 2006, he served as Chairman of the Board of G and G Stores Inc., a specialty retailer focused on teenage women. Prior to this, Mr. Mills served as the President and Chief Operating Officer of Aeropostale Inc. From 1994 to 1998, he held several executive positions in operations for Federated Specialty Stores. Mr. Mills has served as a private advisor to Cerberus Capital and Rosewood Capital and currently serves on the boards of directors of Marc Ecko Enterprises, and VILLA, Inc., an apparel and footwear retailer.

Board Committee Chairmen and Members

Ms. Meads has been appointed chairman of the Nominating and Governance Committee of the Board, which includes Ms. Bronstein, Mr. Reiss and Mr. Goodman as members.

Ms. Bern has been appointed chairman of the Compensation Committee of the Board, which includes Ms. Bronstein, Mr. Mills, Ms. Davey and Ms. Meads as members.

Lastly, Mr. Reiss will continue to serve as the chairman of the Audit Committee of the Board, which includes Ms. Bern, Mr. Goodman and Mr. Mills as members.

-October 2012

ScripsAmerica Secures $1,000,000 in Financing for Its RapiMed Product Line

NEW CASTLE, Del. -- ScripsAmerica Inc. (OTCBB:SCRC), a leading supplier of prescription, OTC and nutraceutical drugs, today announced that the Company has secured $1,000,000 in financing which it will use to develop, manufacture and distribute its RapiMed brand of children's pain reliever and other core business products.

ScripsAmerica has concurrently entered into two financing agreements with Development 72, LLC in order to acquire $1,000,000 in total funding. Development 72, LLC is a Florida-based private equity fund managed by Board Member of ScripsAmerica, Andrius Pranskevicius, that is focused on funding high potential companies in the Healthcare and Information Technology industries,

The first agreement entered into by ScripsAmerica is a four-year term $500,000 loan promissory note issued by Development 72, LLC while the second is a purchase order financing agreement that will be used to purchase orders of the Company's core business products. Purchase order financing involves a third party finance company paying for production, materials and 'work in progress' in exchange for a standard fee. This type of financing will allow ScripsAmerica to finance up to 100% of its supplier costs, enabling the Company to deliver more and larger orders.

CEO of ScripsAmerica, Bob Schneiderman, stated, "ScripsAmerica is very pleased to secure the funding necessary to ensure a successful product launch of RapiMed, currently slated for the first quarter of next year. The terms of this financing demonstrate the confidence that Development 72 has in our RapiMed line due to its unique rapid melting technology and ScripsAmerica's subsequent ability to generate revenue upon its launch."

"The company can now implement the most effective strategies for the development, manufacturing and marketing of RapiMed leading up to the launch without cash constraints, enabling us to grow faster and focus on meeting market demand. This financing also enables ScripsAmerica to direct its own cash resources and profit from product sales into other business areas such as marketing and new product development in the future," continued Schneiderman. - August 2012

Off the rack: Discounter Daffy's is done

(Crain's New York Business) - In a looming liquidation, all 19 locations—including eight Manhattan stores that each exceed 10,000 square feet—will be up for grabs. The end comes after 51 years in business. (Link) - July 2012

Avalon Group Ltd. and Net Worth Solutions Reach Merger Agreement

(Press Release) - Two well known Mid Market M&A firms do for themselves what they have done for many others; Merge to create Strategic Strength!

Avalon Group Ltd., a twenty year old investment bank and strategic advisory firm, and Net Worth Solutions, a well established 20 year old consumer goods and retail merger and acquisition firm, announced that they have reached an agreement to merge. The combined firm will operate under the Avalon registered broker dealer umbrella to provide additional financial services and operating expertise to both public and private fashion, retail and consumer product companies. Net Worth has long been a leading advisor in the retail and fashion space, comments Lynda Davey, Avalon CEO and Founder. I've had the pleasure of partnering with them in the past and look forward to a very successful future as we move forward as one.

Net Worth Solutions has been advising both healthy and stressed companies in M&A transactions for over 20 years. Notable transactions include Buster Brown Shoes, Bill Blass Outerwear, Joan & David, New York Laundry and the sale of Warnaco's White Stage brand to Wal-Mart Stores.

Avalon Securities, Avalon's FINRA registered broker dealer has enhanced shareholder value by completing private placements and strategic M&A and restructuring assignments for both public and private companies. Avalon's team brings both extensive financial skills and specific operating knowledge to transactions in the health services, life sciences, energy, retail, distribution, media, consumer product, manufacturing, hospitality and financial services industries. Avalon's clients have included Reliance National Insurance, Cubic Energy (NYSE:CUB), ICTS International NV (ICTSF.OB), and Cytomedix, Inc. (CMXI.OB) as well as household names such as London Fog, Jane Cosmetics, Frederick's of Hollywood (NYSE:FOH) and Tempur-Pedic International (NYSE:TPX). It's going to be an exciting journey being with Avalon, adds Net Worth Founder and President, Jack Hendler. I look forward to leveraging the broad industry knowledge of Lynda's team to better assist our fashion and retail clients. It permits us to bring private placement services to the public and private companies operating in the Fashion Community worldwide. About Net Worth Solutions, Inc.

Net Worth Solutions, Inc., a fashion and retail M&A firm advising healthy and stressed companies seeking liquidity transactions or strategic partnerships, was formed to give business owners the security and confidence of working veterans who bring operational and financial expertise to engagements. The firm expanded services include brand management licensing. . Net Worth interfaces with business owners and CEOs, acquisition groups, corporate finance contacts, commercial and investment bankers, and numerous other deal resources. These contacts provide access to an extensive network of transaction information. - July 2012

Avalon Group, Net Worth to Merge

(WWD) - Investment bank Avalon Group and advisory firm Net Worth Solutions Inc. struck a deal to merge and become Avalon Net Worth... (Link) - July 2012

What's In It for Wolverine?

(FOOTWEAR NEWS) - "Golden Gate is a great private-equity firm," said Jack Hendler, president... (Link) - April 2012

Avalon MD is contributor to the "Standardization Roadmap for Electric Vehicles"

The American National Standard Institute (ANSI) announced today the release of the "Standardization Roadmap for Electric Vehicles", developed by the Institutes Electric Vehicles Standards Panel (EVSP). The "Standardization Roadmap" assesses the standards, codes, and regulations, as well as conformance and training programs, needed to facilitate the safe mass deployment of electric vehicles and charging infrastructure in the United States.

Avalon MD Peter Blumen is cited as a contributor to that report. - April 2012

When Do Designers Reach the Next Level?

(WWD) - "They have a creative idea, and they just put it in the line whether or not it's realistic. They just go for it," said Jack Hendler, president... (Link) - February 2012

Expect Sears to Lose More Financing Than Just CIT

(TheStreet.com) - While Sears has been making payments on time, CIT hasn't received some financial projections it requested from the department store operator, said Jack Hendler, president... (Link) - January 2012

Sears shares drop 27% on news it will close 100 Stores

(CHICAGO SUN-TIMES) - Another expert, Jack Hendler, president of Net Worth Solutions, said he believes "it will be necessary" for Sears to sell its most valuable brands...(Link) - December 2011

Sears Suppliers Ready to Pull Back in 2012

(TheStreet.com) - "I think 2012 might be the year Sears considers reshuffling the deck chairs," says Jack Hendler, president... (Link) - December 2011

Penney's - Martha Deal Seen as Tired Formula

(WWD) - John Henderson, a director at NetWorth Solutions Inc., noted Johnson was starting out in his comfort zone, but that he is going to have to address the apparel offering. "The first move certainly wasn't a way to move the needle on fashion," Henderson said... (Link) - December 2011

eVestment Acquires ASAP Advisor Services

Atlanta, Georgia – December 1, 2011: eVestment Alliance (eVestment), a global provider of institutional investment data intelligence and analytic solutions, announces the acquisition of ASAP Advisor Services, providers of investment marketing services and database management solutions for institutional money managers, hedge fund managers and other financial advisors. With this acquisition, eVestment will now offer multiple technology and service-based solutions to enable updates to industry leading third-party and consultant-maintained databases.The company will phase in a new brand name, eVestment Omni, to cover its full suite of database population offerings, with three versions to match the spectrum of solutions available from the combined organization:

• Omni Source– Automated, rules-based technology solution that allows managers to maintain control over database updates (formerly eVestment Exchange)

• Omni Select– Leverages Omni Source technology, while giving managers flexibility to outsource the actual database updates

• Omni Complete– Fully outsourced solution that enables managers to completely handoff the database update process (formerly ASAP ManagerQuest)

All three options serve to improve upon managers' distribution methods to industry databases, which continue to be one of the most important marketing channels for investment managers. Additionally, these solutions help improve the accuracy of client data, reduce the risk of funds being excluded in consultant and sponsor searches, limit data discrepancies and enable clients to spend more time on their main focus, managing assets.

Collectively, the eVestment Omni offerings will automate and manage data population for over 300 clients representing over $24.5 trillion in assets under management and over 4,600 unique investment strategies. With its full spectrum of unique products, the eVestment Omni platform will continue to appeal to clients ranging from small, emerging managers to large, global firms. The combined company will retain the eVestment Alliance name.

"This acquisition furthers our efforts to improve the overall client experience, optimizing accuracy and efficiency," said Matt Crisp, Co- Founder of eVestment. "The ASAP team has built a strong foundation with their innovative and intelligent services and we are excited to have them join eVestment."

"We are very pleased to join eVestment's leading data team," said Lauren Cola, Founder and CEO of ASAP Advisor Services. "Our information updating capabilities bring added value to eVestment's clients as they seek the fastest, most-accurate and cost-effective solutions to database updates."

With the ASAP acquisition, eVestment continues its evolution of providing its clients the best data solutions in the world. On September 19, 2011, eVestment announced the acquisition of HedgeFund.net (HFN), a leading source for hedge fund data, research and news. The new partnership has provided a single, global database serving institutional investment professionals who focus on either alternative or traditional investments, as well as "hybrid" investors who seek solutions to help them select and manage investments across both investment categories.

eVestment has developed its reputation as a global leader in investment manager data through the detail and coverage of its institutional database, being named the "Most Influential Database" by FundFire and ranked first in the top 10 list of "Must Be In" databases by Money Management Letter and iisearches. The company was founded in 2000 and headquartered in Atlanta, Georgia, from which it has expanded to include offices in New York, London, Sydney, Hong Kong and regional sales offices in Boston, Seattle, Chicago, and Raleigh.

Avalon Group Ltd. represented ASAP Advisor Services.

Syms Corp. lands in the basement

(Crain's New York Business) - "Syms gets the leftovers," said Jack Hendler, president of Net Worth Solutions Inc., an investment advisory firm... (Link) - October 2011

Avalon's Senior Advisor named President and COO of Frederick's of Hollywood

HOLLYWOOD, Calif. - Frederick's of Hollywood Group Inc. (NYSE Amex:FOH) ("Company") today announced that Don Jones has joined the Company as President and Chief Operating Officer.

Mr. Jones comes to Frederick's with more than 35 years of experience in the fashion and consumer product retail industry. Throughout his career, he has held executive and managerial positions with leading retail organizations, including Gap Inc., Target Corporation, IKEA, Filene's and Macy's.

Prior to joining the Company, Mr. Jones was the CEO of POGAN Retail, LLC, which he founded in 2003. In that role, he provided strategic counsel to several retail companies, including Liz Claiborne Inc., which he advised on the migration of its outlet division to a specialty store strategy. This migration helped Liz Claiborne significantly increase its corporate store performance.

Prior to founding POGAN, Mr. Jones served as Senior Vice President of Stores and Operations for Gap Inc., where he was responsible for Gap, Gap Kids and Gap Body retail stores. During Mr. Jones' tenure, he was instrumental in growing retail store sales. Additionally, Mr. Jones led the rollout of Gap Body and was a member of the Planning and Distribution Strategy committees.

Mr. Jones is also a frequent lecturer and speaker on the subject of small business, retail and consumer products, and is a contributor to CNBC.com.

"This is truly an exciting time to be a part of Fredrick's of Hollywood, as we look to continue the positive momentum we have built and expand that progress into our retail stores." stated Thomas Lynch, the Company's Chairman and Chief Executive Officer. "The addition of Don Jones to our executive management team is another critical step toward returning Fredrick's of Hollywood to profitability." "With his extensive experience in driving innovation and impressive track record for creating outstanding results, Mr. Jones is a valuable addition to our team as we revitalize our brand on an international scale. Most importantly, his in-depth knowledge of the intimate apparel and related products industry, including developing these divisions of major department stores as well as the rollout of Gap Body, will bring fresh perspective we believe is essential to our future success," concluded Mr. Lynch.

"Frederick's of Hollywood is a historic brand that pioneered lot of exciting and innovative merchandise. Over the past two years, the Company has significantly strengthened its financial position and streamlined its operations. I believe the Company is now properly positioned to focus on aggressively regaining market share," commented Mr. Jones. "Having followed Frederick's of Hollywood brand for many years, I am excited to be in a position to offer my knowledge and experiences in order to help the Company effectively capitalize on the growth opportunities that exist both domestically and abroad."

A description of the terms of Mr. Jones' employment agreement with the Company will be contained in a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission.

- September 2011

Frederick's of Hollywood sells Movie Star

Frederick's of Hollywood Group has announced the completion of the sale of its wholesale division, Movie Star, to Dolce Vita Intimates.

The US lingerie retailer claimed the step, which bolsters its cash position, will enable it to expand into new products and markets.

Frederick's of Hollywood chairman and chief executive Thomas Lynch said: "The divestiture of the wholesale division is another major step forward in our strategy to streamline operations and grow our retail business. We are focused on transforming Frederick's of Hollywood into a complete sexy lifestyle brand through domestic and international licensing agreements to support our entrance into new product categories and markets."

Frederick's of Hollywood Group Inc. sells women's intimate apparel, swimwear and related products through 126 specialty retail stores, a catalogue and its online site. The company previously announced plans to explore strategic alternatives for its wholesale business in September 2010.

Dolce Vita Intimates president Jack Thekkekara added: "The acquisition will further our ability to service existing customers through broadening our product line and sourcing capabilities while enhancing Movie Star's tradition of service." - November 2010

Frederick's of Hollywood sells Movie Star to Dolce Vita Intimates

US women's intimate apparel retailer Frederick's of Hollywood Group (AMEX:FOH) said yesterday it has finalized the divestment of its wholesale unit Movie Star to local sector player Dolce Vita Intimates without providing financial details.

The move is part of Frederick's of Hollywood's strategy to streamline its activities and expand its retail unit, CEO Thomas Lynch said in a statement. The proceeds from the transaction will also enable the company to back up its continuing business and carry out its strategy to grow, the CEO added.

Frederick's of Hollywood was consulted by Avalon Group Ltd on the deal, while Dolce Vita received advisory from CoView Capital Inc. - October 2010

Frederick's of Hollywood Explore Strategic Alternatives for Wholesale Division

Avalon Group, Ltd. to Identify Appropriate Buyers for Wholesale Division

New York, New York – September 16, 2010 — Frederick's of Hollywood Group Inc. (NYSE Amex: FOH) ("Company") today announced that it is in the process of identifying strategic alternatives for its wholesale division, Movie Star, in order to increase shareholder value. Investment banking firm, Avalon Group, Ltd., based in New York, will be assisting the Company in identifying available strategic alternatives.

"Movie Star has a long history of supplying many well-known retailers with a wide variety of quality lingerie and undergarments. However, we have chosen to seek alternatives for the Movie Star wholesale business as we concentrate on building Frederick's of Hollywood into a global lifestyle brand. By selling the wholesale division, we can focus more of our resources on strengthening our retail division and expanding into new product categories through strategic domestic and international licensing agreements for the Frederick's of Hollywood brand," stated Thomas Lynch, the Company's Chairman and Chief Executive Officer. "Considering Movie Star's history, broad product lines and extensive customer list of retailers, we are confident in our ability to identify an appropriate buyer for the business."

The Movie Star wholesale division designs, manufactures, sources, distributes and sells women's intimate apparel to mass merchandisers, specialty and department stores, discount retailers, national and regional chains, and direct mail catalog marketers throughout the United States and Canada. Movie Star products include pajamas, nightgowns, baby dolls, nightshirts, dusters, shifts, caftans, sundresses, rompers, short sets, beachwear, peignoir ensembles, robes, leisurewear and daywear consisting of bodysuits, soft bras, panties, slips, half-slips, teddies, camisoles and cami tap sets.

The Company has not set a definitive timetable for completing a transaction involving the Movie Star wholesale division and there can be no assurances that the process described above will result in the completion of any transaction. The Company does not intend to disclose developments regarding this process unless and until its Board of Directors has approved a specific transaction and the Company has entered into a binding agreement related thereto.

Forward Looking Statement

Certain of the matters set forth in this press release are forward-looking and involve a number of risks and uncertainties. These statements are based on management's current expectations or beliefs. Actual results may vary materially from those expressed or implied by the statements herein. Among the factors that could cause actual results to differ materially are the following: the Company's ability to enter into or consummate a transaction as a result of any evaluation of strategic alternatives for the Movie Star wholesale division as described above or the Company's ability to enhance shareholder value through this process or any potential transaction; competition; business conditions and industry growth; rapidly changing consumer preferences and trends; general economic conditions; large variations in sales volume with significant customers; addition or loss of significant customers; continued compliance with government regulations; loss of key personnel; labor practices; product development; management of growth, increases in costs of operations or inability to meet efficiency or cost reduction objectives; timing of orders and deliveries of products; foreign government regulations and risks of doing business abroad; and the other risks that are described from time to time in Frederick's of Hollywood Group Inc.'s SEC reports. Frederick's of Hollywood Group Inc. is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

About Frederick's of Hollywood Group Inc.

Frederick's of Hollywood Group Inc. conducts its business through its multi-channel retail division and wholesale division. Through its multi-channel retail division, Frederick's primarily sell women's intimate apparel, swimwear and related products under its proprietary Frederick's of Hollywood® brand through 126 specialty retail stores nationwide, a world-famous catalog and an online shop at www.fredericks.com. With its exclusive product offerings including Seduction by Frederick's of Hollywood, the Hollywood Extreme Cleavage® bra and Hollywood Sizzle Pool. Party. Swim.™, Frederick's of Hollywood is the Original Sex Symbol®. Frederick's also sells an array of licensed apparel and accessories globally. Through its wholesale division, Frederick's designs, manufactures, sources, distributes and sells women's intimate apparel throughout the United States and Canada.

Avalon Assisted Total Apparel Group Filing Form 10

TAG Files Audited Financials and Form 10 with SEC

Listing Upgrade Process Now Formally Underway

New York, New York – September 2, 2010 – Total Apparel Group, Inc. (“TAG” or the “Company”) (OTC Pink: TLAG), a master distributor and licensee of market-leading international trademarks in the branded apparel, footwear and accessories sectors, announced today it has completed its audit process and filed with the SEC audited financial statements for the years ended December 31, 2008 and December 31, 2009, and the six months ended June 30, 2010.

Concurrent with this action, the Company filed its Form 10 with the SEC; this is the initial general form for the registration of securities, and is the first step towards upgrading the Company’s stock listing to the Over-the-Counter Bulletin Board.

In the coming days TAG will provide its shareholders with a comprehensive update on operations to date, and on the future outlook of the Company.

About Total Apparel Group, Inc.

Total Apparel Group, Inc. (OTC Pink: TLAG) aims to become the leading product licensing, brand management and retail development partner for pre-eminent sports, entertainment and lifestyle brands in the U.S. TAG recently leapt to global prominence with its selection as the official U.S. Master Distributor of FIFATM and FIFA World CupTM Licensed Product. For the first time in its 104-year history, FIFATM – governing body of soccer, the world’s most popular sport – is launching an official collection of merchandise.

FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Manhattan Bridge Capital Engages Avalon Group, Ltd.

NEW YORK, July 12, 2010 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq:LOAN - News) ("Manhattan Bridge Capital" or the "Company"), today announces that it has engaged Avalon Group, Ltd., a New York City based investment banking firm, as a financial advisor to explore strategic initiatives including capital formation, business development and growth aimed at enhancing shareholder value.

Assaf Ran, CEO of Manhattan Bridge Capital, said, "We are excited to explore multiple initiatives with our financial advisor, Avalon Group, that will maximize shareholder value." The strategic initiatives may include operating partnerships and other collaborative arrangements. The exploration of strategic alternatives may not result in any agreement or transaction and, if completed, any agreement or transaction may not be successful or on attractive terms. Manhattan Bridge Capital does not intend to disclose developments with respect to this process unless and until evaluation of strategic alternatives has been completed or it enters into definite agreements for a specific, material transaction.

Ariel Imas, Avalon Group's Co-President of Capital Markets, said, "Manhattan Bridge Capital is currently trading at a 40% discount to cash and cash equivalents and we look forward to working with management to unlock shareholder value."

Manhattan Bridge Capital, Inc. provides short term, secured, non-banking, commercial loans to small businesses.

Avalon Group, Ltd. is a leading, boutique investment bank and strategic advisory firm which provides clients the quality and technical expertise of a major investment bank while maintaining the confidential personal service and efficiency of a boutique firm. Avalon's services include arranging private investments, registered direct offerings, and PIPEs; as well as providing fairness opinions, mergers and acquisitions, restructuring, and strategic advisory services. Since 1992, Avalon has worked with high caliber, committed corporate leaders to expand their businesses, re capitalize or re-organize firms, sell or purchase divisions, and arrange liquidity events. Our clients have ranged from mid-market, private companies and Fortune 500 companies to multi-national entities and early stage ventures. For more information on Avalon Group and Avalon Securities, its affiliated FINRA, SIPC and SEC registered broker-dealer.

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, the risks with marketing of its new on-line software solution, the continued acceptance of the Company's new and existing products, increased levels of competition, new products introduced by competitors, changes in the rates of subscriber acquisition and retention, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

Avalon Managing Director Elected to the Board of Directors of NYSSA

Lynda Davey, CEO of Avalon Group, Ltd., is proud to announce that Karen Sterling, Ph.D., CFA, Avalon’s Managing Director of Health Care Investment Banking, has been elected to the Board of Directors of the New York Society of Security Analysts (NYSSA).

Founded in 1937 by financial industry pioneers including Benjamin Graham, NYSSA is a non-profit organization of financial professionals dedicated to continued excellence in finance education, and promoting the highest standards of ethical conduct and professional practices in the field. NYSSA currently has nearly 10,000 members, and is the largest and most active of over 140 local societies worldwide that comprise the CFA Institute, issuer of the Chartered Financial Analyst designation. The CFA Institute has over 90,000 members.

Commenting on the election of Dr. Sterling and other new members of NYSSA’s board, Society president Nancy Morris, CFA, said, "Their experience and proven business leadership will undoubtedly serve our Society well." Avalon Group’s CEO, Lynda Davey, said Karen’s experience as both a true scientist and a successful investment banker brings a unique skill set to assist the development of the NYSSA. This expertise allows her to understand our clients and translate their expertise in the capital markets.

At Avalon Group, Dr. Sterling offers investment banking services including strategic advice, private and public placement to companies in the biotechnology, pharmaceutical, medical devices, healthcare services, and healthcare IT sectors. Prior to founding the health care investment banking division at Avalon in 2009, she was vice president and senior analyst at Fridson Investment Advisors, an investment management firm specializing in corporate credit opportunities and previously was quantitative and fundamental analyst at Martin Fridson’s FridsonVision. Additionally, until 2009, she published equity research reports and financial analysis of life sciences companies through Karen Sterling Bio-Pharma Insight. Dr. Sterling is widely published in peer-reviewed journals of both finance and science.

In addition to being awarded the CFA designation in 2006, Dr. Sterling earned two Master’s degrees and a Ph.D. in biochemistry and molecular biophysics from Columbia University. In 2005, while deployed to Antarctica as a research scuba diver on an NSF-funded project, she became the only financial analyst in history to update her equity research coverage via satellite from a remote field camp on the Antarctic continent.

Avalon Group, Ltd. Is a leading, boutique investment bank and strategic advisory firm, Avalon Group, Ltd. provides clients the quality and technical expertise of a major investment bank while maintaining the confidential personal service and efficiency of a boutique firm. Avalon’s services include arranging private investments, registered direct offerings, and PIPEs; as well as providing fairness opinions, mergers and acquisitions, restructuring, and strategic advisory services. Since 1992, Avalon has worked with high caliber, committed corporate leaders to expand their businesses, re-capitalize or re-organize firms, sell or purchase divisions, and arrange liquidity events. Our clients have ranged from mid-market, private companies and Fortune 500 companies to multi-national entities and early stage ventures. - June 2010

Frederick's of Hollywood Group Inc. Announces Closing of $3 Million Private Placement

NEW YORK -- Frederick's of Hollywood Group Inc. (NYSE Amex: FOH) ("Company") today announced that it has closed a private placement with accredited investors to purchase 2,907,051 shares of its common stock at $1.05 per share for gross proceeds of approximately $3,050,000. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes. Avalon Group Ltd. acted as placement agent in the transaction.

Under the terms of the offering, the investors also received two-and-a-half year Series A warrants to purchase up to an aggregate of 1,162,820 shares of common stock at an exercise price of $1.25, and five-year Series B warrants to purchase up to an aggregate of 1,162,820 shares of common stock at an exercise price of $1.55. Both warrants become exercisable on the six-month anniversary of the closing date. The Company has agreed to register for resale under the Securities Act of 1933, as amended, the shares of common stock and the shares underlying the warrants issued to the investors.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein. The securities offered and sold in the private placement have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration, or an applicable exemption from registration under the Securities Act of 1933, as amended, and applicable state securities laws.

Forward Looking Statement
Certain of the matters set forth in this press release are forward-looking and involve a number of risks and uncertainties. These statements are based on management's current expectations or beliefs. Actual results may vary materially from those expressed or implied by the statements herein. Among the factors that could cause actual results to differ materially are the following: competition; business conditions and industry growth; rapidly changing consumer preferences and trends; general economic conditions; large variations in sales volume with significant customers; addition or loss of significant customers; continued compliance with government regulations; loss of key personnel; labor practices; product development; management of growth, increases in costs of operations or inability to meet efficiency or cost reduction objectives; timing of orders and deliveries of products; foreign government regulations and risks of doing business abroad; and the other risks that are described from time to time in Frederick's of Hollywood Group Inc.'s SEC reports. Frederick's of Hollywood Group Inc. is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

About Frederick's of Hollywood Group Inc.
Frederick's of Hollywood Group Inc. conducts its business through its multi-channel retail division and wholesale division. Through our multi-channel retail division, we primarily sell women's intimate apparel and related products under our proprietary Frederick's of Hollywood® brand through 132 specialty retail stores nationwide, our world-famous catalog and an online shop at www.fredericks.com. With its exclusive product offerings including Seduction by Frederick's of Hollywood and the Hollywood Extreme Cleavage® bra, Frederick's of Hollywood is the Original Sex Symbol®. Through our wholesale division, we design, manufacture, source, distribute and sell women's intimate apparel throughout the United States and Canada. - March 2010

Avalon's Managing Directors to speak at PIPEs Forum

Both Ariel Imas and Braden Ferrari, Avalon’s Co-Presidents of Capital Markets, will be each be speaking at the “PIPEs and Registered Directs Markets Forum”, hosted by the World Research Group on March 24th and 25th.

World Research Group’s PIPEs and Registered Directs Markets Forum will explore the radical changes in the 2009 market landscape that have redefined the norm in PIPEs transactions and stakeholders have adapted their approach towards raising capital with innovative deal structures that focus on liquidity. As new entrants change the way companies look at capital raising and liquidity requirements change the way investors evaluate transactions, the evolution of the PIPEs market in 2010 can spell fortune for those positioned properly and disaster for those that fail to adapt.

The PIPEs & Registered Directs Market Forum delivers a 360 degree view of the small cap equities market, examining the newest trends in PIPEs and hybrid deal structures. The Forum brings together issuing companies, placement agents and investors to improve the way that public companies can raise capital through innovative financing structures and it is the only forum of its kind that brings together all stakeholders to get deals done in 2010.

Ariel will be speaking on the panel “Identifying the Best Financing Structures for Different Industries” and focusing on the best deal structures for industries such as healthcare, technology, energy and biotech and an analysis of industry specific trends and how different investor groups are influencing deal terms. - February 2010

Frederick's of Hollywood Group Inc. Enters Into Agreement to Extinguish $22.6 Million in Debt and Preferred Stock

NEW YORK - (PRNewswire) - Frederick's of Hollywood Group Inc. (NYSE Amex: FOH) ("Company") today announced that it has entered into an agreement to exchange, at a 50% discount, approximately $22.6 million of outstanding debt and preferred stock for approximately $11.3 million in common stock. The agreement was made with certain accounts and funds managed by and/or affiliated with Fursa Alternative Strategies LLC ("Fursa"), who are the holders of the Company's outstanding Tranche C Debt and Series A Preferred Stock, as well as one of the Company's largest common shareholders. The balance sheet effect of the transaction will increase shareholders' equity by approximately $22.6 million.

Fursa has agreed to exchange the Tranche C Debt, with an aggregate principal amount and accrued interest of approximately $14 million, and to convert approximately $8.6 million of Series A Preferred Stock and accrued dividends, into an aggregate of approximately $11.3 million in common stock. The effective conversion price per share will be calculated based on the volume weighted average price of the Company's common stock for ten trading days, including the five days prior to and the five days including and after today's announcement. Upon the closing of the transaction, the Company will also issue to Fursa three, five and seven-year warrants, each to purchase 500,000 shares of common stock at exercise prices of 150%, 175% and 200% of the conversion price, respectively, but not less than the closing sale price of the common stock on the closing date. All of the shares of common stock owned by Fursa upon completion of the transaction will be subject to a 12 month lock up agreement, subject to early release for a certain number of shares. - February 2010

Cubic Energy, Inc. Announces Receipt Of Additional Extension Of Time From Wells Fargo Energy Capital

Cubic Energy, Inc. (NYSE Amex:QBC) ("Cubic" or the "Company") announces the Company has received an extension of time until October 1, 2009 from Wells Fargo Energy Capital, Inc. (the "Lender") to comply with the terms of that letter dated June 30, 2009. That June 30, 2009 letter previously informed the Company that the Lender made a borrowing base redetermination and waived any failure of the Company to comply with its obligations under the Credit Agreement as a result of such redetermination until September 1, 2009.

In addition, the Company announces the closing of an equity offering in which certain investors (the "Investors") paid aggregate consideration of approximately $1,788,400 to the Company for 2,104,001 shares of the Company's common stock [$0.85 per share] and received warrants exercisable into 1,052,000 shares of common stock. The warrants are exercisable through July 31, 2014, at an exercise price of $0.85 per share.

Calvin Wallen III, President and CEO of the Company, explains, "It is believed that these positive developments are the first steps in moving the Company to the next level."

This press release includes statements, which may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect", or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in mineral prices, the availability of capital, the availability of capital for development of mineral projects and other projects, dependency on pipelines in which to sell the Company's natural gas it produces, reliance on third party contractors to aid in developing the production infrastructure and in the performance of well completion work, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revision or changes after the date of this release. There can be no assurance that any future activities and/or transactions mentioned in this press release will occur as planned. Cubic can not guarantee any level of production from its wells

Cubic Energy, Inc.
Cubic Energy, Inc. is an independent company engaged in the development and production of, and exploration for, crude oil and natural gas. The Company's oil and gas assets and activity are concentrated primarily in the Haynesville Shale Play located in Northwest Louisiana.

-September 2009

August 2009 - Avalon Group Ltd. is pleased to announce another two successful closings

Cytomedix, Inc. (NYSE Amex:GTF) Registered Direct Offering

ROCKVILLE, Md., Aug. 27, 2009 (GLOBE NEWSWIRE) -- Cytomedix, Inc. (NYSE Amex:GTF) ("the Company"), a leading developer of biologically active regenerative therapies for wound care, inflammation and angiogenesis, today announced it entered into securities purchase agreements with investors to raise gross proceeds of approximately $420,000, before placement agent's fees and other offering expenses, in a registered direct offering. This represents the second and final tranche to the financing previously announced on August 12, 2009, which raised an initial approximate $1,050,000. The offering is expected to close on or about August 31, 2009. Proceeds will be used for general corporate purposes. Avalon Securities Ltd. acted as exclusive placement agent, on a "best efforts" basis, for this transaction.

Cytomedix develops, sells and licenses regenerative biological therapies including the AutoloGel (tm) System, a device for the production of Platelet Rich Plasma gel derived from the patient's own blood. The AutoloGel (tm) System is cleared by the U.S. Food and Drug Administration for use on a variety of exuding wounds. The Company is pursuing a multifaceted strategy to penetrate the chronic wound market with its AutoloGel (tm) System and is moving forward with the development of other product candidates in its pipeline. Most notably is its CT-112 product, an anti-inflammatory peptide that has shown promise in preclinical testing. 

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor will there be any sale of these securities in any jurisdiction in which such offer solicitation or sale are unlawful prior to registration or qualification under securities laws of any such jurisdiction. 

Cubic Energy Inc. (NYSE Amex:QBC)Unregistered Sale of Equity Securities

On August 18 and August 26, 2009, Cubic Energy, Inc. (the "Company") entered into Subscription and Registration Rights Agreements (the "Subscription Agreements") with certain investors (the "Investors"). Pursuant to the Subscription Agreements, the Company issued 804,000 shares of common stock on August 18, 2009, and 1,300,001 shares of common stock on August 26, 2009, for an aggregate of 2,104,001 shares. Avalon Securities Ltd. acted as exclusive placement agent, on a "best efforts" basis, for this transaction.

Pursuant to the Subscription Agreements, the Investors paid aggregate consideration of approximately $1,788,400 to the Company for 2,104,001 shares of the Company's common stock and warrants exercisable into 1,052,000 shares of common stock. The warrants are exercisable through July 31, 2014, at $0.85 per share. The shares and warrants were issued by the Company in reliance upon an exemption from registration set forth in Regulation D and/or Section 4(2) of the Securities Act of 1933, as amended. On September 1, 2009, the Company issued a press release with respect to this item. 

About Avalon Group, Ltd.

Avalon Group, Ltd. provides clients access to the quality and technical expertise of a major investment bank while maintaining the confidential personal service and efficiency of a boutique firm. Our services include arranging private investments, registered direct offerings, and PIPEs, and providing fairness opinions, mergers and acquisitions, restructuring, and strategic advisory services. Since 1992, Avalon has worked with high caliber, committed corporate leaders to expand their business, re-capitalize or re-organize firms, sell or purchase divisions, and arrange liquidity events. Our clients have ranged from mid-market private companies to Fortune 500 companies to international entities and early stage firms. Avalon Group and Avalon Securities, its affiliated FINRA, SIPC and SEC registered broker-dealer, are located in mid-town Manhattan.

Avalon’s Capital Markets team offers capital raising and advisory services to public companies. As part of this process, we analyze our client’s operations to create solutions that are tailored to each client’s needs. We provide our clients with strategic introductions and access to institutional money managers, family offices, and high net worth individuals. 

Cytomedix Announces Subsequent and Final Closing of Registered Direct Offering of Common Stock and Warrants

ROCKVILLE, Md. - (Press Releaase) - Cytomedix, Inc. (NYSE Amex:GTF) ("the Company"), a leading developer of biologically active regenerative therapies for wound care, inflammation and angiogenesis, today announced it entered into securities purchase agreements with investors to raise gross proceeds of approximately $420,000, before placement agent's fees and other offering expenses, in a registered direct offering. This represents the second and final tranche to the financing previously announced on August 12, 2009, which raised an initial approximate $1,050,000. The terms of the financing are identical to the terms described in the original August 12, 2009 announcement. The closing of the offering is expected to take place on or about August 31, 2009 subject to the satisfaction of customary closing conditions. Proceeds from the transaction will be used for general corporate purposes.

Avalon Securities Ltd. acted as exclusive placement agent, on a "best efforts" basis, for this transaction.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor will there be any sale of these securities in any jurisdiction in which such offer solicitation or sale are unlawful prior to registration or qualification under securities laws of any such jurisdiction.

Forward-Looking Information

Statements contained in this press release not relating to historical facts are forward-looking statements that are intended to fall within the safe harbor rule for such statements under the Private Securities Litigation Reform Act of 1995. The information contained in the forward-looking statements is inherently uncertain, and Cytomedix's actual results may differ materially due to a number of factors, many of which are beyond Cytomedix's ability to predict or control, including among others, the outcome of development or regulatory review of CT-112 or of the Company's premarket notification, commercial success or acceptance by the medical community, the Company's ability to market and capitalize on the AutoloGel opportunities in orthopedics, competitive responses and the Company's ability to execute in a timely fashion or at all upon the plan of compliance approved by the NYSE Amex. There is also no assurance that the Company's current capitalization will be sufficient to attain its goals, that future funding will be available to the Company on acceptable terms, or that the Company will ever be able to sustain itself from ongoing operations. These forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual events to differ from the forward-looking statements. More information about some of these risks and uncertainties may be found in the reports filed with the Securities and Exchange Commission by Cytomedix, Inc. Cytomedix operates in a highly competitive and rapidly changing business and regulatory environment, thus new or unforeseen risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. Except as is expressly required by the federal securities laws, Cytomedix undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

Cytomedix, Inc.
Cytomedix develops, sells and licenses regenerative biological therapies including the AutoloGel(tm) System, a device for the production of Platelet Rich Plasma ("PRP") gel derived from the patient's own blood. The AutoloGel(tm) System is cleared by the U.S. Food and Drug Administration ("FDA") for use on a variety of exuding wounds. The Company is pursuing a multi-faceted strategy to penetrate the chronic wound market with its AutoloGel(tm) System. The Company is also moving forward with the development of other product candidates in its pipeline. Most notably is its CT-112 product, an anti-inflammatory peptide that has shown promise in preclinical testing. Additional information regarding Cytomedix is available at www.cytomedix.com.

-August 2009

Former Spencer Clarke Bankers Move to Avalon Group

The PIPEwire

Ariel Imas, Karen Sterling and Braden Ferrari joined the investment banking firm Avalon Group, after having left Spencer Clarke. The group's focus is on raising capital for small publically traded companies and some private companies, consulting and mergers and acquisitions in consumer products and life sciences, Ferrari said in an email.

Ferrari is now co-president of capital markets in investment banking at New York-based Avalon along with Imas. Sterling is a managing director. Avalon has not arranged any PIPE financings of $1 million or more, according to PrivateRaise, DealFlow Media's data service.  Spencer Clarke has raised more than $64.3 million in at least 11 PIPEs since 2004. - April 2009

Avalon's CEO to speak at Global Asset Allocation Summit Carlsbad, California

Lynda Davey, Avalon Group Ltd.’s CEO, will be panelist member speaking at the "Global Asset Allocation Summit - Private Equity, Outlook For The Future," hosted by the Opal Financial Group.

Opal Financial Group is proud to present its annual global asset allocation conference, which is designed to explore strategies and techniques employed to augment returns and mitigate risk in global asset allocation. This event addresses asset allocation strategies relevant to Public Pensions, Endowments, Foundations, Taft-Hartley Funds and Family Offices.

Lynda will focus and discuss the future of private equity opportunities and trends. - February 2009

Avalon's CEO to speak at Private Equity Summit Scottsdale, Arizona

Lynda Davey, Avalon Group Ltd.’s CEO, will be speaking at the "Private Equity Summit for Institutional Investors," hosted by the Opal Financial Group.

Opal Financial Group's Private Equity Summit For Institutional Investors is an event designed for institutional investors to address current trends in private equity, venture capital and leveraged buyouts. Set to take place in September 2008, this event will investigate a variety of investment avenues and the most effective strategies for investing in each. We will discuss such issues as private equity portfolio theory, fund of funds as an investment vehicle, private equity buyouts in emerging markets, real estate opportunities and pitfalls, fixed income alternative investments, international investing, and more. In addition, we will investigate operation and taxation issues, as well as valuation guidelines in order to keep attendees ahead of the curve for 2008.

Lynda will focus and discuss on how distressed investing can be a profitable investment strategy regardless of market conditions.- August 2008

According to M&A Professional Jack Hendler, it's not just the economy..

New York, NY - (MRketplace.com - Men's Retail Magazine) - "Entrepreneurs often react by gut instinct or the seat of their pants, not always getting a bang for the buck on their value assets..." - Jack Hendler - June 2008

David Golden Joins NeWS Team

New York, NY - (Press Release) - Net Worth Solutions, Inc., a merger and acquisition advisory firm that provides investment banking services to the fashion industry, today formally announced the appointment of David M. Golden as Director of Advisory Services and Special Projects. (Link) - May 2007

Avalon's CEO interviewed in PSSST! Secrets of Millionarie Moms

PSSST! ACCLAIMED AUTHOR, TAMARA MONOSOFF, SPILLS THE SECRETS OF MILLIONAIRE MOMS

Build-A-Bear Creator, Baby Einstein Founder and 15 Other High-Powered Women Share Personal Insight and Amazing Stories of Their Rise to the Top

Walnut Creek, California – May 1, 2007 – Today Mom Inventors, Inc. announces the eagerly anticipated Secrets of Millionaire Moms, published by McGraw-Hill, will be on book shelves nationwide May 2007. The Secrets of Millionaire Moms, How They Turned Great Ideas into Booming Businesses and How You Can Too by Tamara Monosoff shares the exciting and inspiring entrepreneurial stories of 17 women who turned kitchen-table businesses into million-dollar companies ranging from $5 million to $350 million!

Authored by Tamara Monosoff, founder and Chief Executive of Mom Inventors, Inc., The Secrets of Millionaire Moms provides thoughtful inspiration and success formulas for turning ideas into profit. Monosoff interviewed one-on-one with 17 select and highly successful women; who provide an inside look at the challenges and successes they faced building thriving businesses. The book’s core business concepts are supported by the women who offer priceless advice on everything from financing an idea, to creative marketing, and they discuss the juggling act between work and family. 
The book features incredible stories and insider tips from:

• Julie Clark; sold Baby Einstein to Disney for millions of dollars

• Maxine Clark; CEO of the mega-business Build-A-Bear Workshop

• Lane Nemeth; creator of Discovery Toys and now Petlane.com

• Victoria Knight; 2nd grade school teacher turned inventor of Airborne Health

• Lillian Vernon; the woman behind the Lillian Vernon catalog

• Rachel Ashwell; CEO of Shabby Chic

• Teri Gault; creator of The Grocery Game

• Jeanne Bice; QVC favorite, The Quacker Factory

• And much more

Author Tamara Monosoff is a successful business woman herself, as a mom inventor and founder and CEO of Mom Inventors, Inc, a company that produces and distributes products made by moms. Her first book, The Mom Inventors Handbook: How to Turn Your Great Idea into the Next Big Thing was a best seller and she is also an ‘Ask the Expert’ columnist for Entrepreneur.com. 
From examining the sport of managing family and finances to delving into raising capital, Monosoff explores all aspects of starting and growing a business – the struggles and the successes. Her “Million Dollar Secret” tip boxes placed throughout the chapters offer practical advice, personal encouragement, and motivation from the women she interviewed. - May 2007

Jack Hendler - Industry Commentator

New York, NY - (Press Release) - Prominent New York-based merger and acquisition firm Net Worth Solutions, Inc., provides investment banking, strategic alliance, and a complete range of M&A advisory services to the fashion industry including apparel, footwear, home furnishings, accessories, jewelry, and other mid-cap retail manufacturers and wholesalers. (Link) - April 2007

Li & Fung Acquires Homestead

New York - (Home Textiles Today) -  Li & Fung USA's newly acquired Homestead fashion bedding division will debut Royal Velvet and Cannon bedding lines during this February's market week, according to David Greenstein, who now heads the division. Most of the division's assets were bought out of bankruptcy last week.

"You know Homestead, we look at things differently. And this is right at the sweet spot of our expertise," Greenstein said in a telephone interview from the company's Seattle office, which is slated to be closed. "We really think that the decorative part of bed is what leads brands."

Royal Velvet and Cannon will join Homestead's "microbrands," which along with its private label and hospitality businesses form the core of Homestead's top line. Homestead is on track to generate volume of about $50 million this fiscal year, Greenstein said.

Greenstein has lusted after the former Pillowtex brands for years and was part of a group that unsuccessfully bid for Royal Velvet, Cannon, Fieldcrest, and Charisma in Pillowtex's own Section 363 bankruptcy action in 2003. The winning bid of $120 million, more than double that original stalking horse bid, went to GGST, LLC, a consortium of private equity interests that then became Official Pillowtex LLC. Royal Velvet and Cannon were then licensed to Li & Fung.

The irony that he will now manage those brands has not been lost on Greenstein.

"I think it's good. It's an interesting confluence of abilities," he said of the acquisition. "They've got certain skill sets and we have certain skill sets and I think [the combination] could be amazing. And the market certainly needs some new leadership."

Li & Fung made an initial payment of $8.9 million  70% of the total price, which is north of $12 million  during the Homestead sale closing, which came after a scheduled Section 363 auction was ratified by a federal bankruptcy judge here.

The auction itself never actually occurred, Greenstein said, but represented the result of negotiations "on the steps of the court" between stalking horse Li & Fung and Homestead's largest secured creditor, DDJ Capital Management, which had threatened to compete in the auction by credit bidding. Most of the payments in the transactions will be made directly to DDJ, according to court documents, with other creditors  including the unsecureds  variously accounted for in the purchase agreement.

"Maybe I expected a little more interest in Homestead from third parties," Greenstein opined. "But I think people realized that this model needs a lot of working capital. So I was surprised there weren't more active bidders."

"In this industry, everyone is a seller" and there are very few buyers, he added.

The resulting purchase price of about $12 million, based largely on inventories, goodwill, trademarks and license agreements, represents a premium ranging from 54% to about 65% of the original stalking horse bid of about $7.8 million. Greenstein said inventory valuations rose from 43% to 65% and goodwill increased from about $250,000 to $1.64 million in the final sale agreement.

The precise purchase price appears slightly elastic since it must be finally determined through an accounting process.

Greenstein said the higher purchase price will have no impact on Li & Fung's working capital requirements for Homestead.

A 363 auction, which has become popular in corporate bankruptcies, occurs independently of a normal Chapter 11 reorganization plan, which may or may not proceed afterward. It permits the judge in the case to "cram down" aspects of a reorganization of the estate but becomes a de facto liquidation of the predecessor company, and permits the surviving entity to emerge free and clear of its prior obligations.

"I think it was an amicable and good solution for everyone," Greenstein summed up.

Homestead was the last piece of the London Fog Group to be sold off following that company's Chapter 11 filing last March.

Li & Fung USA president Rick Darling issued an e-mailed statement referring to Greenstein and his team as industry "thought leaders" and hailing the acquisition as another step in his company's evolution in U.S. home textiles. - November 2006

Jane Cosmetics Gets Cash Infusion

NEW YORK - (WWD) - Jane Cosmetics wants to up its standing in the mass market with the help of a cash infusion from two private equity groups. The Company has linked arms with Stone Canyon Venture Partners, with holdings that include the luxury gifts retailer Gump's and The Walnut Group, an investor in the consumer brands such as Build-A-Bear, and in entertainment ventures, including the Broadway productions of Hairspra and Jersey Boys, to build Jane into an aspirational brand with ties to the entertainment world.

The beauty firm's President and Chief Executive Officer, Lisa Yarnell, said the multimillion-dollar fund is intended to fuel Jane's growth into a top 10 mass market cosmetics brand. Jane as we know it will have a lot more capital for advertising, retail tie-ins, and promotions and product development, said Yarnell. We had disappointed retailers in the past, where we couldn't grow as fast as they wanted us to grow, she added.

Yarnell, along with a silent investor, purchased the fledging cosmetics brand from the Estee Lauder Cos. In 2004, and spent the next year repositioning it from a teen brand to a value line tailored to women 19 to 39 years old.

The brand, which generated less than $20 million in sales in 2004, had lost favor with retailers once the teen cosmetics trend bubble burst. As a result, its store count had dwindled to 7,500 doors. Today, the brand is housed in 2-foot to 3-foot displays in roughly 10,000 doors, and Yarnell expects the company to reach $50 million in sales within the next two years. We think that Jane can touch a lot of people who have moved from department stores to drugstores, said James M. Gould, Managing General Partner of The Walnut Group, which also invests in the spa Skinklinic. The brand has untapped potential. We just have to establish its story and differentiate it from other brands on the shelf.

The company will rely on board members, who include Gould; John A. Davis, Founder, Chairman and Chief Executive Officer of Davis Entertainment Co.; Frederic H. Mayerson, Chairman and Managing General Partner of The Walnut Group, and Michael J. Seibert, founding member of Stone Canyon Venture Partners. Yarnell intends to take advantage of their connections to Hollywood and Broadway. She noted that the two investment firms are interested in introducing Jane products to film and theater makeup artists and finding an up-and-coming actress to be the face of the brand.

Yarnell said, We are going to be making sure customers know who we are.

Avalon Group Ltd. was financial advisor and Wachtel & Masyr LLP served as legal advisor to Jane & Company LLC. - June 2006

London Fog sells Pacific Trail division to Columbia Sportswear

NEW YORK & PORTLAND - (BUSINESS WIRE) - The London Fog Group announced today that as part of its financial restructuring pursuant to its Chapter 11 reorganization, the company has agreed to sell its Pacific Trail outerwear business and related brands to Columbia Sportswear Company for $20.4 million plus the assumption of certain services. The agreement is the culmination of a public auction held yesterday in which Columbia was the highest bidder. The sale is effective today. London Fog Group also announced that its $40 million in debtor-in-possession (DIP) financing provided by Wachovia Bank, N.A. has been approved by the Bankruptcy Court. The DIP financing is intended to support London Fog Group's working capital needs during its reorganization.

In an effort to secure sufficient working capital to properly fund its core operations, on March 20, 2006 London Fog Group filed a voluntary petition to reorganize under Chapter 11 of the United States Bankruptcy Code. The sale of Pacific Trail represents a major step in the Company's plan to improve its financial position. London Fog Group continues to operate its businesses under Chapter 11, as it implements its restructuring.

David Greenstein, CEO of the London Fog Group, commented; "The divestiture of our Pacific Trail business represents a major step in our plan to financially restructure London Fog Group. We were very pleased by the broad interest in and active bidding for the Pacific Trail business. We believe the transaction is in the best interests of Pacific Trail and the talented team of professionals that lead the business. Columbia is the ideal company to continue building on the success of the Pacific Trail and related brands this season and going forward."

Trademarked brands included in the sale are Pacific Trail(R), Pac-Tech(R), Towne(R), Outdoor Unlimited by Pacific Trail(R), Black Dot and Moonstone(R).

New York-based Avalon Group Ltd. represented the London Fog Group and facilitated the auction process in conjunction with the Bankruptcy Court.

Pacific Trail is a quietly powerful brand with an 60-year tradition of quality in the outerwear and sportswear world, and roots as an authentic Northwest lifestyle brand. The brand has a powerful emotional connection to the rugged outdoor life and leisure of the Pacific Northwest, and a prominent position at major national retailers and has built a national reach and possesses a particularly attractive base of personnel, brands and assets targeting the outwear, sportswear, footwear and home textile markets. Pacific Trail is currently growing its consumer presence and retail footprint with additional licensing and new product development.

Following the completion of the Pacific Trail sale, the London Fog Group will be comprised of two principal operations:

London Fog is a great American apparel brand, ranked #32 of the top 100 brands by Women's Wear Daily. Created in the 1920s, London Fog became the ubiquitous symbol of American rainwear with the introduction of the classic trench. Today, London Fog is being made into a powerful must-have global lifestyle brand in the designer tier, showcased in the most prestigious retail venues and with the highest caliber product in fashion, accessories, outerwear and fragrance.

Homestead is the premier designer and manufacturer of home fashions in the U.S. today. The company has extensive experience in a wide range of home textiles for major designers and private label brands. The Homestead portfolio includes brands such as Angela Adams, Collier Campbell, Nancy Koltes, Dreams by Peacock Alley, Preston Bailey, Jeffrey Bilhuber, The Art of Home Ann Gish, Cubanitas, MaryJane Butters, Pacific Trail Home and others.

-March 2006

Fashion Cents Shops for Sale

(Press Release) - Norstan Apparel Shops, Inc., which does business under the name of "Fashion Cents", announced today that it has entered into an agreement to sell substantially all of its store locations, inventory and other assets to Fashion Cents Acquisition, LLC, for approximately $14 million in cash plus the assumption of more than $12 million of operating lease liabilities, in a transaction that must still be approved by the Bankruptcy Court and the company's major creditors. -Avalon Group, Ltd. is representing Fashion Cents Acquisition, LLC in this transaction.

Norstan is a leading fashion retailer of women's apparel and accessories to low and middle income consumers. The company operates approximately 230 stores under the "Fashion Cents" name in 20 states in the South, Midwest and Mid-Atlantic regions.

Norstan has been operating under Chapter 11 of the Bankruptcy Code since April 8, 2005. Abacus Advisors has been assisting Norstan in the process of locating an acquisition partner and has conducted extensive marketing efforts which will culminate in an auction to determine whether other parties, individually or in the aggregate, are willing to pay more than the current proposal.

"The proposed acquisition, which is subject to higher and better offers, is certainly the best option currently available to Norstan," observed Alan Cohen, chairman of Abacus. "The deal will provide cash to creditors, jobs for employees, and a continued presence of "Fashion Cents" stores in most of the communities they currently serve," continued Mr. Cohen. - May 2005

Avalon's CEO Presenting at the Global Textile Forum in Beijing

Lynda Davey, Avalon Group Ltd.’s CEO, will be speaking at the "Second Global Textile Economic Forum," sponsored by the China National Textile and Apparel Council. The forum will be held in Beijing on March 28, 2005. The theme, "Post Quota Times: Textile & Garment Sourcing in China", is an exploration of the new economic order for the textile and garment trade and ways to expand global channels in the textile sector.

Lynda will focus on the impact that the end of quotas will have on cross-border M&A and joint venture activity among Chinese and U.S. apparel and retail companies. Conference information is available at www.ctei.gov.cn/english/adv/2005forum/lt-introduction.htm Attendees will include both national and international economic and government groups, importers, wholesalers, retailers, and textile and apparel companies. We look forward to sharing insights gained at the conference. - March 2005

InMotion Pictures acquires AltiTUNES Partners, LP

Jacksonville, FL - (Press Release) - InMotion Pictures, the company that rents and sells portable electronics, movies, and accessories at airports has entered into a purchase agreement with AltiTUNES Partners, LP to bring one-stop shopping for portable entertainment to travelers in airports across North America. AltiTUNES was founded by Amy Nye Wolf, CEO, in 1994, and currently has 27 locations. AltiTUNES is the leading retailer of music, movies and electronic accessories in airports throughout the country. The new combined entity will be known as InMotion Entertainment, and has an initial store base of 53 locations (50 US locations, 2 Canadian locations, and a location at Grand Central Terminal in New York). I am very proud of what AltiTUNES has accomplished over the last ten years, says Ms. Wolf. This combination is a classic example of the sum of the parts being much greater than the two independent companies. It is a win-win strategy for our customers, employees, airports and vendors. In addition to the 53 combined locations, InMotion Entertainment currently has 9 new locations under development.

InMotion Pictures is currently the leader in portable DVD player and movie rentals in airports. Customers may choose from numerous rental options at any InMotion Pictures location, or receive movies and players directly from InMotion Pictures via FedEx. InMotion Pictures anticipates that rental will be available at all 53 locations by the second quarter of this year. In addition to being the leader in portable entertainment rentals, InMotion Pictures also sells portable electronics, accessories, and software such as DVD players, digital cameras, camcorders, and movies. The acquisition enables the combined entity to expand its retail mix to include a broad selection of music software, portable music hardware and video games, including digital downloads. These additions, along with a myriad of rental options available to travelers, will further enhance InMotion Entertainment's projected revenue of $40 million in 2005. Our intention and goal is to leverage our new and improved mix of entertainment with the expanded access our customers are demanding, and top it off with the superior InMotion Entertainment customer experience, said David Kight Co-Founder of InMotion Pictures.

InMotion Entertainment expects to launch a number of new products in 2005, including digital photo print kiosks, personal digital device rentals (including content for music, TV programming, and business seminars), GPS rentals, and more. Many of these products are currently in testing stages at several InMotion Pictures locations and will complement the successful '04 fourth quarter launch of the company's movie rental subscription service.

The Avalon Group, Ltd., an investment banking boutique based in New York, represented AltiTUNES Partners, LP on this transaction. The Mercanti Group, LLC represented InMotion Pictures, LLC. - January 2005

Gendis sells SAAN Stores Ltd

Winnipeg, Manitoba - (Press Release) - Gendis Inc. (TSX:GDS) announces the sale today, for nominal consideration, of all of the shares of its wholly-owned subsidiary SAAN Stores Ltd. to SAAN Acquisition Corp. of Toronto, Ontario. SAAN Acquisition Corp. represents an investor group experienced in retail operations and financing world-wide, which is associated with Avalon Group, Ltd. of New York City.

Earlier this week, Gendis announced that it designated SAAN as a discontinued operation due to the expectation of its sale in the fourth quarter, and recorded the fair value of SAAN at nil, with a resulting write-down of $38.9 million after estimated selling costs. Gendis also, earlier this week, disclosed its potential exposure under lease guarantees, consequential upon sale of SAAN. Gendis now expects the selling costs to increase by an additional $700,000 as a result of concluding the sale of SAAN. Under the terms of the sale agreement, Gendis has agreed to advance a $2 million interest-bearing loan to SAAN on a secured basis late in the first quarter of fiscal 2006.

The lawsuit commenced by a prospective purchaser has been discontinued without costs.

Gendis has now exited the retail industry and, other than as noted above, faces no additional exposure - December 2004

$3.7 MM Growth Financing for Nina McLemore

New York, NY - (Press Release) - Nina McLemore, Inc., announced today that it has closed on $3.7 million of growth financing. Nina McLemore, Inc. is a designer women's clothing company that markets to successful executives, professionals and community leaders through a focused direct sales force and better specialty stores. The company will use the funds to expand its client base and direct distribution channel.

The $3.7 million venture financing was led by Aperture Venture Partners, LLC, and includes investments from Chazen Capital Partners, founded by Jerome Chazen, co-founder of Liz Claiborne, Inc., Slater Equity, and individual investors who are experts in the apparel and retail industry.

"Nina McLemore, Inc. is at a very attractive stage in its growth cycle." said Paul E. Tierney, Jr., Managing Director of Aperture Venture Partners. "Nina and her management team have proven track records in the fashion business. The strong consumer response over the last two years has demonstrated Nina McLemore's appeal. We look forward to partnering with Nina and her team to help realize the company's exceptional growth potential."

"Nina McLemore epitomizes today's Leading Edge women business owners who are much more likely than men and women in general to take financial risks, especially when it comes to expansion capital for their businesses." said Sharon Hadary, Executive Director of the Center for Women's Business Research, based on their latest research on women business owners seeking growth capital.

As business owners, high-ranking executives, and "community professionals," many women have been disappointed by the fashion industry's failure to meet their needs for designer level clothing appropriate for their active business, travel and social schedules.

Nina McLemore's line of clothing has received enthusiastic response from these women executives and high net worth active women, in large part due to her strategic approach that combines designer-quality fabrics and workmanship in simple, elegant styles with a direct sales model.

"These are the clothes I have always been looking for...beautiful fabrics, well made in styles that are distinctive and still easy to wear and take care of...an unusual combination. They fit well, travel well, and always make me feel great!" said Nancye Green, founder of Donovan/Green, a branding consultancy, and EQmedia, building brands in drtv. "From a retail perspective, Nina's direct approach certainly streamlines the value chain between the manufacturer and the consumer, which is particularly important today." said Dr. Myra Hart, professor at Harvard Business School and co-founder of Staples, Inc. "The direct sales approach provides excellent consumer feedback, personalized service, and an attractive shopping environment."

With almost half of the privately held businesses in the United States majority-owned and operated by women and generating nearly $2.3 trillion in sales [1], entrepreneurial women now represent an important economic powerhouse. By making clothing available through trunk shows and better specialty stores, Nina McLemore is able to provide service and convenience in a more intimate setting better suited than a department store to these women's preference for convenience and service when making consumer purchases.

"I founded Nina McLemore, Inc. to focus a designer collection on a large and fast growing demographic of successful and wealthy women who have been frustrated by the lack of clothing designed for them. In 2002, we launched in only four cities," said Nina McLemore, CEO and founder of Nina McLemore, Inc. "Based on the response of the thousands of women I have met across the country, we have been able to quickly expand the business to almost 30 markets in less than two years. We have clearly met an untapped need in the marketplace and are able to provide an income opportunity for many women who need or want to work and require flexible schedules."

Avalon Group, Ltd. a private New York based investment bank represented Nina McLemore, Inc. in arranging this growth financing. Avalon's principals own a portion of the company.

About Nina McLemore, Inc. Nina McLemore, Inc. designs high-quality clothing in simple, elegant styles that fit contemporary, successful executive women and women who are active in their communities. The Collection is sold on an exclusive basis through select better specialty stores and to private customers through exclusive sales consultants. Made of mostly natural fibers from the finest European mills, the fabrics are chosen for their luxurious textures, elegant design, quality and ability to withstand rigorous travel schedules. The Collection emphasizes jackets that transform an outfit with a timeless style. Prices range from $65 to $900, and represent a better value compared to more expensive designer collections.

Nina McLemore is the founder of Liz Claiborne Accessories and was a member of the Executive Committee at Liz Claiborne, Inc. She was previously V.P. GMM of May Department Stores International and co-Founded Regent Capital Partners. She is an active supporter of women in business and is the former Chair of the Center for Women's Business Research and Fashion Group International. She is a founding member of The Committee of 200, a member of Women's Presidents Organization, The Financial Women's Association, the International Women's Forum, and World President's Organization. She is a frequent speaker and mentor to young women, and has a passion for helping women succeed. Her greatest personal accomplishment is climbing Mt. Kilimanjaro.

About Aperture Venture Partners, LLC Aperture Venture Partners is a venture capital group committed to working with exceptional entrepreneurs to tackle significant problems and create major new opportunities. Aperture works with companies across a variety of sectors, including healthcare, consumer industries and business services. - July 2004

Gillette to Acquire Rembrandt Brand from Den-Mat Corporation

Boston, MA - (Press Release) - The Gillette Company announced today that it has signed a definitive agreement to acquire the Rembrandt brand of at-home and professional teeth-whitening products from privately held Den-Mat Corporation of Santa Maria, California.

The transaction, expected to be completed in the second quarter, is subject to custom regulatory and other closing conditions. Financial terms were not disclosed.

"Rembrandt is a well-established, premium-priced whitening brand with strong consumer loyalty and excellent U.S. retail distribution and shelf position," said Bruce Cleverly, president, Gillette Oral Care. "While we will continue to focus on Oral-B's core franchise in manual and power brushing, this acquisition places us in the dynamic whitening segment that will be a platform for future growth."

With its Oral-B products, The Gillette Company is a worldwide leader in the $5 billion total brushing market. The brand includes manual and power toothbrushes for adults and children, oral irrigators and oral care centers and interdental products such as dental floss. Oral-B manual toothbrushes, the foundation and largest category of The Gillette Company's oral care business, are used by more dentists and consumers that any other brand in the U.S. and many international markets.

The Rembrandt product portfolio includes whitening toothpastes, bleaching kits, mouth rinses and breath fresheners for consumer and professional use. Rembrandt is a division of Santa Maria, California-based Den-Mat Corporation, one of the leading manufacturers of cosmetic restorative dentistry and bio-medical products including the fast-growing Cerinate TM brand of porcelain laminates, which offer people a painless way to reshape their smiles. Den-Mat was founded in 1974 by Dr. Robert Ibsen, a practicing dentist.

Headquartered in Boston, The Gillette Company is the world leader in male grooming, a category that includes blades, razors and shaving preparations. Gillette also holds the number one position worldwide in selected female grooming products, such as wet shaving products and hair epilation devices. In addition, the Company is world leader in alkaline batteries.

Avalon Group, Ltd., a New York based investment bank, represented Den-Mat, Corporation in its divestiture of the Rembrandt brand and Goldman Sachs, Inc. represented The Gillette Company in the acquisition. - May 2004

Jane & Company, LLC acquires Jane Cosmetics from Estee Lauder

(The New York Times) - Harry Adjmi, owner and operator of a successful manufacturing company and investor in various other consumer goods companies and extensive real estate holdings, has formed a new company, Jane & Company, LLC, with Lisa Yarnell, a mass market health and beauty executive with over 25 years experience in consumer packaged goods, cosmetic and fragrance industries. Together, they have purchased the Jane cosmetics business from The Estee Lauder Companies Inc.

Adjmi notes, "Our approach will be the first true integration of our knowledge of a young, junior fashion customer applied to the mass marketing of a strong cosmetic brand. We know Jane. We understand Jane -- because we know this customer." Since 2002, Adjmi has increasingly been focused on investments in brands including Buster Brown, Pillowtex, XOXO and Nina McLemore, LLC.

Ms. Yarnell has experience with companies such as Colgate Palmolive, Benckiser Consumer Products, Inc. (Coty, Inc.) and Renaissance Cosmetics, Inc. She has been responsible for worldwide cosmetics and fragrance brands such as Fetish for teen girls and Tinkerbell for tweens.

Adjmi and Yarnell plan to build Jane into a major brand in the cosmetics category. "This is a major growth period for Jane's target age group, girls ages 15-29, and Jane cosmetics deliver the perfect combination of high quality products with great fashion sense at a value price," Yarnell adds. "Harry and I feel strongly that the time is now for Jane to grow and expand to its full potential. "We have been extremely impressed with the professionalism and integrity of The Estee Lauder Companies and their employees," Adjmi adds. "As Lisa and I ready to prepare our plans for Jane, we are surrounding ourselves with an impressive group of talented individuals -- to attract new consumers and heighten the Jane brand awareness worldwide." - February 2004

Estee Lauder Sells Jane Cosmetics Line

By Laura Klepacki

(WWD) - The Estee Lauder Companies has ended its six-and-a-half-year experiment with the mass beauty market. As anticipated, the company on Monday said it has sold its Jane Cosmetics teen brand. The new parent is Jane & Company, LLC, a joint venture recently formed between brothers Harry and Alex Adjmi, owners and operators of the apparel company One Step Up, and Lisa Yarnell, a longtime mass market beauty executive whose experience includes stints at L'Oreal, Coty and Renaissance Cosmetics. The purchase price was not disclosed.

Harry Adjmi is chairman and Yarnell is president and chief executive officer. Yarnell will be running the business out of Jane's Baltimore, MD., headquarters, replacing Todd C. First, who had been general manager of Jane under Lauder. Yarnell said Monday that her first order of business would be to meet with retailers "to learn what the concerns and issues are, so we can reinvigorate mass efforts towards it." Jane remains in 2,200 Wal-Mart doors, 250 Target doors and a smattering of drugstores. Yarnell believes it's possible to rebuild Jane's retail sales, which have sunk under $25 million from a high of $50 million a few years ago. "I don't see why Jane can't be a $100 million brand," she declared. Industry observers say Lauder underinvested in Jane, but the brand's sales also were hurt by a flood of competitors into the teen cosmetics market.

Adjmi, who sells private label apparel lines to discounters like Wal-Mart and K-mart, as well as specialty and department stores, said the intention is to broaden the brand base and maybe launch a fragrance and accessories to complement the cosmetics, he said.

A New York showroom is being created for Jane, which Yarnell described as offering, "high-quality products with a fashion sense at a value price."

Lauder surprised the industry when it snapped up Jane in September 1997, taking the prestige vendor into the mass-market segment for the first time. Jane Cosmetics was a darling of mass retailers in the beginning, for it was the first dedicated teen color brand, and it was hoped that it would unlock sales in an expanding market segment. A heartfelt, spirited brand with a bit of sassiness, it was launched in 1994 as an offshoot by the Sassaby Company, a maker of cosmetics boxes. The line awakened other marketers to the swelling ranks of teen consumers and the strength of their buying power.

Up until then, Cover Girl, a general market brand that enjoys a teen following, and Bonnie Bell, a youth brand with an emphasis on flavored lip items, were the brands most directly connecting with young shoppers. The introduction of Jane inspired a flood of teen and tween brands that followed, such as Caboodles and Fira, along with a host of private label youth collections.

From the beginning, Lauder had big visions for Jane. Chairman Leonard Lauder said in 1997 that what drew Lauder to Jane was the company needed a brand with more modest price points to help it break into emerging markets such as China and India. Another intention was to use Jane as a learning vehicle and as a wedge into the $3.5 billion mass color market. When acquired, Lauder initially retained Jane's founding managers Don Pettit and Howard Katkov to guide its growth, but over time, both were quietly eased out of Lauder organization as high-level Lauder management began weighing in on the brand.

"I think we learned that each of the major cosmetics channels, be they direct, mass or prestige, has certain skills and the fact that we are in the cosmetics business doesn't necessarily give us the data bank to compete in every channel, "Daniel Brestle, a group vice president at Estee Lauder, said in an interview Monday. "Jane was a business we looked at to give us exposure to the [mass] channel. I thought it was a great experience for those of us here, but at the end, strategically, it was never going to be as big was what we wanted." Brestle noted that the brand's general manager, Todd First, "had done a terrific job" over the past two years. Brestle said the Jane brand that was sold was a well-run organization with high-quality products. But in the end analysis, he said, Lauder's core competence is in service environments. Said Brestle: "We do that pretty well." - February 2004

Tempur-Pedic International Initial Public Offering Priced at $14 Per Share

LEXINGTON, Ky - (PR Newswire) - Tempur-Pedic International Inc. announced today that the initial public offering of 18,750,000 shares of its common stock was priced at $14.00 per share, for a total offering of $262,500,000. Of the 18,750,000 shares being offered, the Company is selling 6,250,000 shares and 12,500,000 shares are being sold by certain of the Company's stockholders. The Company expects the shares to begin trading on the New York Stock Exchange under the symbol "TPX".
Tempur-Pedic International Inc. is a vertically-integrated manufacturer, marketer and distributor of premium mattresses and pillows made from its proprietary Tempur visco-elastic foam. Products are sold in 54 countries under the Tempur and Tempur-Pedic brands.

The net proceeds to be received by the Company will be approximately $81,812,500, before transaction costs. The Company expects to use the net proceeds to pay down debt, including approximately $52,500,000 aggregate principal amount of the 10-1/4 % Senior Subordinated Notes due 2010 issued by certain of the Company's subsidiaries. The Company will not receive any of the proceeds from the sale of shares of common stock by the selling stockholders. The underwriters also have an option to purchase up to an additional 2,812,500 shares from the selling stockholders.

Lehman Brothers Inc. and Goldman, Sachs & Co. are joint book-running managers on the offering. A copy of the prospectus relating to the offering may be obtained at www.sec.gov or from Lehman Brothers' prospectus department at 745 Seventh Avenue, New York, New York 10019, or by phone at (212) 526-7000, and from Goldman, Sachs & Co. at Prospectus Department, 85 Broad St., New York, NY 10004, or by phone at (212) 902-1171. UBS Investment Bank and Citigroup are co-managers of this offering along with CIBC World Markets and U.S. Bancorp Piper Jaffray.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission and was declared effective on December 17, 2003. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offer or sale will be made only by means of the written prospectus forming a part of the effective registration statement.

Certain statements in this press release may constitute "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used herein, the words "believes", "expects", "plans", "estimates" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance and achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. - December 2003

TA, Friedman to Buy Mattress Maker Tempur

(The Daily Deal) - TA Associates and Friedman, Fleisher & Lowe are teaming up to acquire Tempur World Inc., a Lexingtion, KY-based mattress and pillow maker, in a $350 million leveraged recapitalization.

The two private equity firm said Friday that they had signed a definitive agreement to purchase Tempur from Fagerdala World Foams AB of Gustavsberg, Sweden, a producer of polymer foams.

TA Associates, a Boston buyout firm, plans to invest $95 million in convertible preferred equity and will own a majority of Tempur, according to P. Andrews McLane, a TA senior managing director. In addition, TA will invest $35 million in subordinated debt and warrants.

Friedman, Fleisher, a San Francisco private equity shop, will supply $50 million of convertible preferred funding. A mezzanine debt fund managed by Gleacher & Co. LLC will kick in another $15 million.

The rest of the financing, $150 million of funded senior debt and a revolving credit facility ($20 million of which will be untapped at the deal's closing), will come from GE Capital Corp.

Avalon Group, a New York M&A boutique, advised Tempur, as did the law firms Frost, Brown, Todd LLC of Lexington, KY, and Sidley, Austin, Brown & Wood LLP, New York. The buyers turned to Bingham McCutchen LLP for counsel.

McLane, who wouldn't disclose Tempur's cash flows, said the $250 million revenue company fits the growth profile TA seeks. "We only do so-called growth buyouts," he said. "This company has been growing at better than 20% a year for the past three years. Other mattress and pillow makers don't grow at that rate."

Geographic expansion and aggressive marketing have combined to spur the increase in sales. In the U.S., which accounted for just over half of Tempur's 2001 sales, the company sells its Tempur-Pedic brand bedding through specialty retailers.

"Myself, I don't especially like the mattress," McLane said. "But two of my sons think the pillows are great, and my mother has been sleeping on a Tempur-Pedic mattress for years. Bedding is a matter of personal choice, and a lot of people are Tempur-Pedic fans." - October 2002

Grabbing a Pillow: Buyout Firms Agree to Acquire Tempur World

(The Wall Street Journal) - Two private-equity firms agreed to acquire Tempur World Inc., a maker of foam pillows and mattresses, from Fagerdala World Foams AB of Sweden for $350 million.

Under terms of the deal, which is expected to be announced today, TA Associates Inc., Boston, will invest $95 million in cash and $35 million in subordinated debt to fund the transaction. An additional $50 million cash investment will come from Friedman, Fleischer & Lowe, San Francisco, with the rest of the acquisition being financed with bank debt.

Robert B. Trussell Jr. will remain Chief Executive Officer of Tempur and will have an equity stake in the business. The deal is expected to close by early November.

Tempur, Lexington, KY., sells its pillows and mattresses under the brand names Tempur and Tempur-Pedic at retail chains and through direct marketing. Tempur has a sales agreement with specialty retailer Brookstone Inc. of Nashua, N.H., that 9% of its $250 million of sales last year. Just more than half of the company's revenue came from U.S. sales.

The buyout comes as Fagerdala's majority shareholders are looking to cash out of Tempur. Fagerdala's primary business is making polyethylene foams used for insulation and shock absorption in the automotive and athletic industries.

The pillow and mattress unit makes products from viscoelastic foam, a material developed by the National Aeronautics and Space Administration in 1971 for use in spacecraft seats to cushion astronauts during liftoff. Fagerdala improved the foam, which is temperature sensitive, allowing it to conform to better support the body. The company's viscoelatic-foam mattress, introduced in 1991, sells for about $1,000. Tempur's pillows are priced at about $100 each. - October 2002

Consumer Business Investing-Meet Seven Top Investors

(New York Business Forums Conference Center) - Avalon Group, Ltd. has joined with the New York Business Forums to create Consumer Business Investing a forum being held on Tuesday, September 24th from 3:30 to 6:30 p.m. where companies and their clients can meet premier investors interested in consumer businesses. The forum will explore the current placement environment and the ability to obtain private placement financing for growth or obtain liquidity by selling a controlling interest in their company.

Avalon's Chief Executives, Lynda Davey, will be joined by some of the most active institutional principals investing in consumer businesses. Speakers will include David Landau, General Partner of Apax Partners Inc., Steven Segal, Senior Managing Director of J.W. Childs Associates LP, and David Yarnell, Managing General Partner of BEV Capital as well as other prominent investors and experts in the field. The program will cover topics ranging from:

what companies should consider when thinking about private financing
special hurdles required to obtain private placement funds
what investors believe makes a successful investment
what investors look for in consumer business companies
These successful investors will also share their views about management teams, approaches to compensation and ownership, and where they find resources for consumer business companies. There will be several Q&A sessions as well as informal one-on-one discussions where one can get acquainted with other investors who are looking to invest in consumer businesses.

We are confident consumer business companies and their clients will find this event a unique and valuable opportunity to learn more about the current market for private placements in the consumer industry. - September 2002