Founder of S&S relinquishes control, new owners

[Ian]

S&S Worldwide, Inc. Announces
Ownership Changes

LOGAN, UT – September 30, 2010 – S&S Worldwide, Inc. is pleased to announce that its largest shareholder, Larsen MacColl Partners LP, has recently acquired majority ownership in the company, including all shares previously held by company founder, Stan Checketts.  
 
Larsen MacColl Partners, based in Radnor, Pennsylvania, acquired a significant equity interest in S&S Worldwide, Inc. (“S&S”) in February 2009.  A private equity fund focused on profitable middle-market companies, Larsen MacColl formed a partnership with S&S based on its proven business model, solid management team, and significant growth potential. Since 2009, the strategic and financial support of Larsen MacColl has contributed significantly to the company’s on-going success.  


The Koffman family and affiliated shareholders will maintain their ownership interest in S&S and are represented on the Board of Directors by Mr. Jeffrey Koffman.  Stan Checketts, founder of S&S, is no longer a shareholder and has ended his consulting relationship with the Company in order to pursue other business interests.  

Source: Official press release.

How will this affect the future of S&S?

 

[rollermonkey]

Interesting.

Stan's been pushed out of companies before, though. He has great ideas, but isn't the best businessman in some ways.

 

[marc]

I wonder if this has been caused by the action taken due to the failed coaster in Germany.

How will it affect them? It all depends how much the family were involved. If they keep the same designers etc it probably will not affect them very much.

Just wonder if the old owners will start a new firm.