Avante Mezzanine Partners has provided subordinated debt and an equity co-investment to support the buyout of Amware Logistics Services by Rotunda Capital Partners.
Amware Logistics Services is a provider of third-party warehousing and fulfillment services to the following sectors: automotive aftermarket, hazardous & non hazardous chemicals, food grade products, industrial & construction materials, lumber, pulp & paper, and retail & consumer goods. Services include fulfillment, warehousing, transportation, and transloading. Amware operates over 2 million square feet of warehouse space through nine facilities located across the United States and Canada. The company is headquartered in Eagle, CO (www.amwarelogistics.com).
“Amware is Avante’s fourth investment in the last year supporting independent sponsors and we are extremely excited to invest with a team as strong and as successful in the logistics industry as Rotunda Capital,” said Jeri Harman, Founder and Partner of Avante.
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).
“Avante was an excellent partner for Amware and Rotunda,” said John Fruehwirth, Managing Partner of Rotunda Capital. “Avante’s responsiveness and flexible debt and equity capital were key to achieving a timely close.” Corey Whisner, a Partner of Rotunda Capital added, “We appreciated Avante’s value-added, collaborative approach during due diligence and are thrilled to have their support as we invest in Amware to facilitate its next stage of growth.”
“Rotunda, via its industry expertise and operating executive network, is perfectly suited to assist management in continuing its track record of growth. We are thrilled to be an investor in the company and support Rotunda and management’s growth plans,” said Paul Hayama, Principal of Avante.
Rotunda Capital invests in businesses with enterprise values of $5 million to $100 million. Sectors of interest include specialty finance, logistics and distribution, government and business services. Since founding in 2009, Rotunda Capital has completed seven platform investments and realized two exits. The firm has offices in Washington, DC and Chicago (www.rotundacapital.com).
2014 PEPD • Private Equity’s Leading News Magazine • 6-5-14
