ANN ARBOR, MI, March 07, 2012 /24-7PressRelease/
-- Ann Arbor-based Colorbok, Inc., a nationally prominent creator and distributor of scrapbooking items, kids' crafts and other related products, announces their new partnership with Lazear Capital Partners, Ltd., a Columbus, Ohio merchant banking firm. Lazear Capital partnered with key management in the purchase of assets of Colorbok, Inc.
Established in 1984, Colorbok, Inc. has built its success on entering into diverse product categories with licensed brands and has become a leading supplier, marketer and distributor in the craft and hobby industry over the last two decades.
"I am pleased to be entering into this relationship with Lazear Capital Partners. We see this as a significant investment in the future of Colorbok and the Crafting Industry. With Lazear Capital's expertise and Colorbok's strong management team we believe we are poised for rapid growth in our industry," stated Colorbok CEO Chuck McGonigle.
As part of the corporate restructuring Colorbok, Inc. will become a new entity known as Colorbok, LLC. The new ownership and management will consist of Colorbok's current executive team and Lazear Capital Partners.