Avante Mezzanine Back Sverica’s Buy of Dexmet
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Avante Mezzanine Back Sverica’s Buy of Dexmet

Avante Mezzanine Partners has provided subordinated debt and an equity co-investment to support the acquisition of Dexmet Corporation by Sverica International.

“Avante proved to be an excellent mezzanine partner as they showed flexibility in pricing and structuring, conducted efficient diligence, and delivered on what they promised,” said Dave Finley, a Managing Director at Sverica International. “This was our first deal with Avante and we were impressed with their ability to provide a seamless, one-stop financing solution.”

Dexmet Corporation is a developer and manufacturer of highly engineered expanded foils and polymers used in a variety of end markets. The company’s products are used in a range of applications including lightning strike protection for major composite aircraft manufacturers, anodes and cathodes for advanced battery technologies and supportive materials for filtration and automotive applications. The company was founded in 1948 and is headquartered in Wallingford, CT (www.dexmet.com).

Sverica invests in service oriented businesses and light industrial manufacturers. The firm targets companies with enterprise values under $100 million and EBITDAs greater than $3 million. Sverica, with over $425 million of assets under management across three funds, has offices in Boston and San Francisco (www.sverica.com).

“We are thrilled to support Sverica and its acquisition of Dexmet,” said Jeri Harman, Founder and Partner of Avante. “We pride ourselves in building relationships with quality sponsors such as Sverica. Additionally, Dexmet’s dominant market position, defensible niche and attractive growth drivers made it an ideal fit with Avante. We are excited to witness Dexmet’s next stage of growth under Sverica’s experienced guidance and look forward to supporting the company in its future endeavors.”

Avante Mezzanine Partners provides unitranche/one-stop debt, mezzanine, and minority equity investments of $5 million to $20 million to sponsored and non-sponsored companies with EBITDAs from $3 million to $15 million. Sectors of interest include aerospace & defense; business services; consumer products; distribution; education; healthcare & life sciences; industrial manufacturing; security products & services; software & IT services; and specialty chemicals & coatings. Avante Mezzanine Partners has offices in Los Angeles and Boston (www.avantemezzanine.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 3-8-13

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