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Promotional products shop Halo Industries continues to sell off units, unloading brand strategy firm Lipson, Alport Glass & Associates last week for $25 million in cash.
Purchasing the shop—which has offices in suburban Chicago, New York and Cincinnati—were principals Stevan Lipson, Howard Alport and Allan Glass, along with Thomas Cressey Equity Partners.
Halo bought LAG&A three years ago during a diversification drive. Stung by debt and a sagging stock price earlier this year, the company embarked on a divestiture strategy and a return to its core business.
Last month, Halo sold Market USA, a teleservices firm, to SR.
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