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South Franklin Street Partners Provides Senior Subordinated Debt to Rutland Plastics, Inc.
Cleveland, Ohio (April, 2005) -- South Franklin Street Partners' mezzanine fund (ACP-I) provided senior subordinated debt used as part of a financing package to facilitate the purchase of Rutland Plastics, Inc. by an acquisition vehicle lead by Hong Kong Shanghai Bank and Laud Collier & Company, LLC.
Rutland Plastics, Inc. is a worldwide leader in the production of plastisol compounds for a variety of commercial and industrial applications. Rutland's proprietary products include high-performance screen printing inks, as well as plastisols used to enhance characteristics of a variety of materials by functioning as adhesives, molding compounds, sealants, and coatings. The Company serves several markets, including apparel screen printing (screen printing inks), automotive filtration (adhesives for oil and air filters), and industrial (adhesives principally for outdoor furniture, children's playground products, conveyor belts, and fatigue mats). Over a history of more than 40 years, Rutland has established itself as a market leader in the screen printing and domestic automotive filtration markets, as well as a major supplier of plastisols for industrial applications, by providing premium quality plastisols, complemented by superior technical expertise and customer service.
Headquartered in Pineville, North Carolina, with additional Company distribution facilities in Ohio, North Carolina, Florida, and the United Kingdom, Rutland serves customers in over 50 countries.
About South Franklin Street Partners
South Franklin Street Partners, through its mezzanine fund, ACP-I, L.P., is in the business of investing junior capital in middle market companies with annual revenues between $10 million to $150 million. ACP-I utilizes its capital to fund buyouts of minority or majority shareholders, ESOPs, non control recapitalizations, generational transfers, acquisitions, or to facilitate the growth of profitable middle market businesses. ACP-I's target investment size is $2 million to $10 million but can provide additional capital in conjunction with affiliated investors. ACP-I normally invests subordinated debt with warrants or preferred stock with an equity participation feature. Other structures will be considered, where appropriate.
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