Kaiser Time Launches M&A Partnership

Steven Kaiser, president of Kaiser Time Inc., New York, has formed a partnership with merger and acquisition specialist Jack Hendler, managing director of Friedman Corporate Consultants LLC. The new firm, Kaiser Friedman Acquisition Advisors, LLC (KFAA) will focus on mergers and acquisitions within the jewelry industry.

Kaiser, a 20-plus-year veteran of the watch and jewelry industry, is the former president of Benedom and Baume & Mercier. Kaiser Time, the company he founded last year, focuses on finding strategic alliances within the industry.

“Basically, we’re a matchmaker,” says Kaiser. “We specialize in introducing people and companies that can help one another.” Kaiser Time already offers a range of services for the industry, including sales and distribution management, business consulting, executive recruitment, negotiating strategic alliances, and providing private label timepieces for retail jewelers. Its partnership with a mergers and acquisitions specialist will allow it to offer yet another service Kaiser feels is greatly needed.

“This is something nobody’s ever done in the jewelry industry,” Kaiser told JCK. “Our industry is too small and it isn’t `sexy’ to the big Wall Street  brokerage houses, plus it has its own unique characteristics that you understand if you’re in the industry but you won’t if you’re not.” He says outsiders are put off by many of the industry’s standard practices (such as its long payment terms and slow inventory turn) but as an insider, his firm knows both the individuals involved and when to look past the balance sheets.

Kaiser’s partner, Friedman Corporate Consultants, has specialized in mergers and acquisitions of private companies from five to $250 million for more than 25 years.