Speidel Acquired in Management Buyout

Speidel Inc., the leading distributor of watchband attachments worldwide, announced Dec. 19 that company president Jeffrey R. Massotti had purchased both Speidel Inc. and Providence Watch Hospital from Austria-based Hirsch Armbaender AG. The purchase was made by Massotti's holding company, JRM Holding Inc. The purchase price was not disclosed. The company will continue to focus on its multi-level channels of distribution, with the independent jewelry trade the dominant focus, said a company statement. Speidel's wholly owned sales team is one of the largest calling on independent jewelers. The sales force will continue to represent both Speidel and Hirsch Brands throughout the United States, Canada, Puerto Rico, and Mexico. "This transaction will now put the worldwide rights and control of the Speidel brand name and trademarks back on U.S. soil," Massotti said, noting that the company
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