GAI is now totally in the hands of the company which began running it last winter.
Ault Glazer & Co., Inc. has announced that through one of its subsidiaries, it recently finalized the purchase of 100% of Global Authentication Incorporated. The San Clemente, California based GAI grades sports cards and unopened packs and also provides autograph authentication services.
AGC, through Ault Glazer Capital Partners, LP, has been investing in Global and lending capital to the firm for over two years. It acquired majority interest in January.
A company news release indicated that Global will continue to operate as a stand-alone company with the current management team in place led by CEO Bill Dully.
Dully came aboard in January, shortly after GAI lost its lease on an office it was using. The company was forced into a hasty move and was absent from the show circuit for several months before emerging again this spring.
“It was an ideal progression to move forward with the 100% buy-out and we are excited to continue our relationship with Global Authentication," Milton “Todd” Ault III, CEO and Chairman of Ault Glazer stated in a news release. "The company’s team of executives, Mike Baker, Steve Rocchi and Steve Sipe, have done an outstanding job of gaining market share and increasing revenue quarter over quarter under Bill Dully’s leadership. We believe in Global’s bright future and expect it to add significant revenue growth over time,” Ault stated.
“The relationship with Ault Glazer was productive from its inception and it became a natural fit for us to be acquired and to become a part of the companies that make up Ault Glazer & Co,” said Jim Haas, Chairman of Global Authentication. “I look forward to seeing Global grow over time under Ault Glazer’s watchful supervision.”
Haas was in the news several months ago after he filed a civil lawsuit against Sportscard Guaranty over a 1952 Topps Mickey Mantle card he had asked that company to examine for a possible upgrade. SGC stated the card was not worthy of the bump to its 98 (gem mint) grade and the suit was apparently settled after the two parties reached an agreement on the card’s return.
Terms of the GAI sale to Ault Glazer were not disclosed.
More information on Ault Glazer & Co. can be found on its website.