Pine Creek Partners has sold its portfolio company Drew Foam Companies, an expandable polystyrene foam molder, to Gladstone Investment Corporation.
Drew Foam is an expandable polystyrene foam molder and fabricator for a variety of applications in packaging and construction. The company serves the Texas, the Gulf Coast and the Southeastern U.S. markets. Drew Foam operates facilities in Portland, TN and Anderson, SC and is headquartered in Monticello, AR (www.drewfoam.com).
Mesirow Financial acted as the exclusive financial advisor to Drew Foam Companies. Mesirow Financial is an active advisor in building products, and is one of the most active advisors in the paper, plastics and packaging sectors, having completed over 90 transactions in recent years.
“Mesirow Financial was instrumental in identifying a strong group of prospective strategic and financial buyers and conducting an effective transaction process. Our customers and employees will both benefit as Gladstone and Drew Foam join together and continue to grow the company’s product offering and geographic reach,” said Bill Givens, CEO of Drew Foam. “Mesirow Financial’s advice throughout the process resulted in a successful outcome for all parties involved.”
Gladstone Investment Corporation is a publicly-traded business development company that seeks to make debt and equity investments in small and mid-sized businesses in the United States in connection with acquisitions, changes in control and recapitalizations. The company is based in McLean, VA (www.gladstonecompanies.com).
Pine Creek Partners invests in companies in the consumer products, government contractor, financial services, travel and leisure sectors that are valued between $10 million and $70 million. The firm is based in Washington D.C. (www.pinecreekpartners.com).
Mesirow Financial’s Investment Banking group focuses exclusively on middle-market transactions and serves middle-market companies and large corporations, both public and private, in merger and acquisition advisory, capital markets advisory, restructuring and special situations, fairness and solvency opinion, board of directors advisory and special committee representation. Overall, Mesirow Financial is a diversified financial services firm with particular expertise in investment management, global markets, insurance services and consulting. Founded in 1937, Mesirow is an independent, employee-owned firm with more than 1,200 employees in offices across the US and in London, UK. The firm is headquartered in Chicago, IL (www.mesirowfinancial.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 8-30-12
