Caltius Equity Partners Sponsors the Acquisition of Northwest Coatings
November 25, 2002
Los Angeles, CA (November 25, 2002) – Garrick Ahn, Managing Director of Caltius Equity Partners, announced the closing of a transaction in which Caltius sponsored the acquisition of substantially all of the assets of Northwest Coatings Corp (“NWC”).
Based in Oak Creek, Wisconsin, NWC is a leading developer and manufacturer of customized specialty ultraviolet (UV) and electron beam (EB) curable and water base coatings and adhesives servicing the tag and label, packaging, printing, textile, automotive and other industries.
Caltius, in partnership with management, American Capital Strategies, Ltd., and Antares Capital Corporation provided capital in the form of preferred and common equity. In addition, Antares provided a $12.0 million senior credit facility and American Capital provided $10 million in senior subordinated debt.
“Despite a difficult economic environment, the NWC team has continued to deliver strong results,” said Mr. Ahn. “The stellar performance is a direct result of Northwest’s innovative technical leadership which allows them to develop high quality, custom products, and a dedicated employee base that emphasizes excellent customer service. I have great confidence that the Company will continue to outperform,” concluded Mr. Ahn .
Caltius Equity Partners is a Los Angeles, CA, based private equity fund providing capital for management-led buyouts, later-stage growth financings, leveraged recapitalizations, acquisitions and corporate divestitures.
Investment targets are in the consumer products and services, healthcare products and services and business services industries, among others.
For further information, please contact Garrick Ahn in Los Angeles at 310-996-9578.