Avante Backs Fulham Buy of Delphon Industries

Avante Backs Fulham Buy of Delphon Industries

avante nfAvante Mezzanine Partners has provided mezzanine debt and made an equity co-investment to support the recent acquisition of Delphon Industries by Fulham & Co.

“Avante was an excellent partner during diligence,” said John Fulham, Managing Partner of Fulham & Co. “We were impressed with their team from the outset and knew that they could move quickly toward close. That was important to us in this transaction. We look forward to working with them on Delphon and on future transactions.”

delphon nfDelphon is a provider of products and services that are used in the technology industry. The company’s Gel-Pak division (Hayward, CA) is a provider of specialty gel packaging that protects semiconductor components during shipping and handling. Delphon has three other divisions which include Quik-Pak (San Diego, CA), a provider of assembly services for the semiconductor industry; UltraTape (Salem, OR), a manufacturer of specialty tapes for cleanroom environments; and TouchMark (Hayward, CA), a provider of printing services for the medical industry. Delphon is headquartered near Oakland in Hayward, CA (www.delphon.com).

Fulham & Co. invests in manufacturing companies that sell highly engineered commercial products that are leaders in their niche and have $2 million to $6 million of EBITDA. The firm was founded in 1984 and has $280 million of capital under management. Fulham & Co. is based in Wellesley, MA (www.fulhamco.com).

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).

harman nf2“We are thrilled to support Delphon,” said Jeri Harman, Founder and Partner of Avante. “Not only is the company the clear market leader in its niche, but it is also a woman-led business which is one of our financing areas of interest. We are also excited to partner with Fulham in this transaction. They bring a long track record of success and significant experience investing in specialty manufacturing businesses. We look forward to working with Fulham and the Delphon management team as they grow the business.”

Co-investing in this transaction with Fulham was Farol Asset Management (www.farol-group.com) and Brooke Private Equity Associates (www.brookepea.com).

© 2014 PEPD • Private Equity’s Leading News Magazine • 3-21-14

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