Riker Danzig is pleased to announce that its client NYF Corp., a privately-held company, has been acquired by B/E Aerospace, Inc., the world's leading manufacturer of aircraft cabin interior products and a leading aftermarket distributor of aerospace fasteners, for approximately $66.5 million in cash.
Founded in 1956, NYF Corp. is a global distributor of assembly components, electronic hardware and mechanical fasteners. NYF Corp. distributes to the aerospace, electronic and manufacturing sectors and manages the supply chain for Fortune 200 companies. Roger Crosby, President and Simon Basner, Vice President, were both nominated in 2005 by Ernst & Young as Entrepreneurs of the Year. In 2002, NYF Corp. won the prestigious New Jersey Governor's Award for Performance Excellence, the state's equivalent of the national Malcolm Baldrige Quality Award.
Riker Danzig served as outside general counsel to NYF Corp. for over a decade, helping it through leadership succession, financial difficulties, financings and day-to-day legal issues. Long time NYF Corp. counsel and Riker Danzig partner Andrew Stamelman said, It has been a pleasure to work with the people of NYF Corp. as they created a growth plan, executed their plan, became leaders in their field and then achieved a successful exit sale.
Handling the deal for NYF Corp. were Riker Danzig attorneys William G. Connolly, Andrew J. Stamelman, Marilynn R. Greenberg, Scott A. Ohnegian, and Geoffrey G. Gussis, and paralegal Beatrice Kwok. Shearman & Sterling LLP served as outside legal counsel to B/E Aerospace and Houlihan Lokey Howard & Zukin Capital, Inc. acted as exclusive financial advisor to NYF.
