News: Press Release
Offit Kurman Attorney Stuart B. Newman Represents Timeless Treasures Fabrics in Purchase of Marcus Brothers Textiles
April 8, 2019 | New York, NY Offit Kurman’s streak of mergers and acquisitions (M&A) activity continued last month with two transactions closed on behalf of clients in New York. On March 19, 2019, Marcus Brothers Textiles, Inc. sold to Timeless Treasures Fabrics of Soho, LLC. Attorney Stuart B. Newman represented the buyer throughout the transaction.
For over 100 years, Marcus Fabrics has produced fabrics for quilting and crafts, emphasizing creativity and high quality. The family-owned company has worked with leading textile designers and reproduction specialists such as Judie Rothermel and Karen Phillips-Shwallon.
Timeless Treasures, also a family-owned business, is a wholesale retailer with more than 50 years of experience in creating designs for quilting, crafts, and manufacturing. The company’s team of fabric designers comprise artists, illustrators, quilters, and studios from around the world.
In a statement about the transaction, Marcus Fabrics Marketing Manager Lisa Shepard Stewart commented on the companies’ complementary histories, missions, and cultures, calling Timeless Treasures a brand “synonymous with diverse and creative novelties and batik collections.”
“Together, we'll provide an expanded variety of designs, continuing our joint commitment to exceptional style, uncompromising quality, and personalized service,” said Ms. Stewart. “We look forward to bringing our shared vision to the quilting community!”
ABOUT STUART NEWMAN
Stuart B. Newman has been engaged in corporate and securities practice for over forty years, focusing on corporate law, private equity transactions, mergers and acquisitions and capital formation. Stuart studies his clients’ businesses thoroughly and has made valuable contributions on a range of business issues such as: joint ventures, product development, finance, investment banking, marketing and personnel. He has served as a director on the boards of both publicly-traded and privately held companies, contributing his unique combination of business acumen and broad legal experience. He has served as a director on the boards of both publicly-traded and privately held companies, contributing his unique combination of business acumen and broad legal experience.
ABOUT OFFIT KURMAN
Offit Kurman is one of the fastest-growing, full-service law firms in the mid-Atlantic region. With over 185 attorneys offering a comprehensive range of services in virtually every legal category, the firm is well positioned to meet the needs of dynamic businesses and the people who own and operate them. Our twelve offices serve individual and corporate clients along the I95 corridor in the Virginia, Washington, DC, Maryland, Delaware, Pennsylvania, New Jersey, and New York City regions. At Offit Kurman, we are our clients’ most trusted legal advisors, professionals who help maximize and protect business value and personal wealth. In every interaction, we consistently maintain our clients’ confidence by remaining focused on furthering their objectives and achieving their goals in an efficient manner. Trust, knowledge, confidence—in a partner, that’s perfect.
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