Princeton-based Princeton Artist Brush Co. is a top manufacturer and distributor of fine art brushes in North America. Under terms of the deal, Princeton Artist Brush will stay in New Jersey and its founder, Howard Kaufman, will remain in his role.
The DAK Group served as the investment banker and financial adviser to Princeton Artist Brush.
“Princeton Artist Brush has built an exceptional market-leading business, this transaction allows its ownership; to monetize its life’s work, while gaining a strategic partner which will accelerate the company’s leadership position.” said Alan Scharfstein, president of The DAK Group.
Pacon Corp. is the parent company of Strathmore Artist Papers, a supplier of fine papers to the artist community.