NEW YORK—Brook & Whittle Limited, a printer of decorative label solutions for beverage and personal care product companies, has been recapitalized by private equity firms Charter Oak Equity (Charter Oak) and RFE Investment Partners (RFE), in conjunction with the company’s management. The terms of the transaction were not disclosed.
Citi Capital Strategies (CCS), a division of Citigroup Global Markets Inc. and an investment bank serving privately held businesses, served as the exclusive financial advisor to Brook & Whittle. The CCS transaction team included Ted Polk, managing director, and Matt De La O, director.
“We are pleased that our client, Brook & Whittle, has teamed with private equity firms of the caliber of Charter Oak and RFE,” said Polk. “With this transaction, Brook & Whittle’s shareholders were able to realize liquidity on the value they have built in the company while retaining a substantial ownership stake as they work with their new partners to continue to aggressively drive growth.”
Stephen Stewart, president of Brook & Whittle stated, “We are delighted to partner with Charter Oak and RFE. With the support of our new partners, Brook & Whittle will be able to significantly expand its operations and capabilities, enter new markets, strengthen existing customer relationships and generate new ones.”
“I have known Steve and his team for over three years and have watched them grow Brook & Whittle into a market leader in decorative labels. We are looking forward to helping the company take advantage of its substantial growth opportunities,” stated Paul Roughan, managing partner of Charter Oak. “We are excited about partnering with the Brook and Whittle management team during this period of growth and providing our experience and resources to assist them in enhancing the company’s position as a strong, well-respected market leader,” added Michael Foster, managing director at RFE.
(Editor’s Note: For more on financing and capital/equity options, especially relating to mergers and acquisitions, see the March issue of packagePRINTING.)
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