Carl Marks Advises Scovill Fasteners in Sale of Company

NEW YORK, May 10, 2011 /PRNewswire/ -- Carl Marks Advisory Group LLC, the investment banking and corporate revitalization firm based in New York, has been retained to act as financial advisor to Scovill Fasteners Inc., a Clarkesville, Ga.-based manufacturer of engineered closure products used in the apparel and industrial markets.  Scovill filed for Chapter 11 bankruptcy protection last month.  Carl Marks is facilitating the sale of the company's operations and assets in connection with the Chapter 11 filing.

Founded in 1802 in Waterbury, Conn., Scovill Fasteners is an industry leader in the production of high quality snap fasteners and tack buttons.  Today, the company's primary manufacturing facility and headquarters are located in Clarkesville.  Its brand portfolio includes products that have high brand recognition in the various markets served, including Gripper®, Duramark®, DOT®, Pull-The-DOT®, Lift-The-DOT®, Common-Sense® and DOT Durable™.  Scovill's products are used in a wide range of applications, including jeans wear, infant and children's wear, sporting goods, medical devices and safety equipment.

Carl Marks was retained by Scovill to provide financial advisory services in September 2010. Scovill has agreed to sell nearly all of its operations and assets to Global SFI Holdings LLC, subject to higher and better bids and bankruptcy court approval. The company intends to continue to operate as usual during the bankruptcy process.  The sale is expected to be completed by June.

About Carl Marks Advisory Group LLC and Carl Marks Securities LLC

Carl Marks Advisory Group LLC, with offices in New York, Vienna, Va., Bedminster, N.J., and Charlotte, N.C., provides a wide array of investment banking and financial, operational and real estate advisory services to the middle market, including mergers and acquisitions advice, sourcing of capital, financial restructuring plans, strategic business assessments, improvement plans and interim management. Carl Marks Advisory Group is the 2010 recipient of the Turnaround Management Association's Turnaround of the Year Award in the Large Company category.

Carl Marks Securities LLC, based in New York, assists its clients in executing private placements of debt and equity. The firm is a member of FINRA and SIPC. Additional information about Carl Marks Advisory Group LLC and Carl Marks Securities LLC is available at www.carlmarks.com.

SOURCE Carl Marks Advisory Group LLC