Gem Shopping Network sold to an affiliate of Sun Capital Partners

  • Sep 2013
  • Consumer
  • M&A: Sell-Side
  • US

Livingstone delivers a gem of a deal.

Livingstone’s Consumer sector team has advised on the sale of Gem Shopping Network, Inc. to an affiliate of trans-Atlantic private equity investor Sun Capital Partners.

Founded over 16 years ago by Frank M. Circelli, Gem Shopping Network is a 24-hour live television network specializing in the sale of unique colored gemstones and one-of-a-kind jewelry reaching over 40 million homes via satellite and cable networks across the United States.

“I founded Gem Shopping to educate people about fine colored gemstones from around the world and to make them accessible to the consumer. The fact that we sell finer quality jewelry than anyone else on television is a testament to the trust our clients have in Gem Shopping,” said Frank M. Circelli. “Livingstone did an outstanding job understanding our business and conducting a competitive global sale process that exceeded our expectations.”

Managing Director at Livingstone Chicago Andrew Isgrig, added: “Frank’s passion for gemstones is contagious. He and the Gem Shopping team have built a truly unique business and were a pleasure to work with. The Livingstone team is excited about the opportunity this transaction will present for all involved.”

“We are proud of the success the team has had establishing Gem Shopping as an industry leader. We are enthusiastic about partnering with Sun Capital and the opportunity ahead. Sun Capital will help us accelerate the execution of our growth strategy with capital and their deep retail and consumer products sector expertise,” said PJ Lynch, CEO of Gem Shopping.

Andrew Bozzelli, Vice President at Livingstone Chicago added: “We recognize what is important to our clients and how to navigate the complexities of founder transitions. This is another example of our ability to deliver great results for owner-managed businesses.”

This is the third Consumer deal the Livingstone team have completed in 2013 involving private equity backing, most recently travel management specialist Key Travel’s buy-out backed by Livingbridge and bar and restaurant operator Drake & Morgan’s buy-out backed by Bowmark Capital.

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Key Transaction Team

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