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RETURN TO NEWS RELEASES
September 30. 2002
Huron Capital Partners Acquires York Tape & Label, Inc. – Represents Huron’s 3rd Acquisition In The Last 45 Days And 8th During the Past 2 Years
Detroit, MI – September 30, 2002 // Huron Capital Partners LLC, a Michigan-based private equity firm, announced today that, in conjunction with senior management, it has acquired Pennsylvania-based York Tape & Label, Inc. (d/b/a York Label). The transaction closed on September 16, 2002 and the purchase price of the transaction was not disclosed. Comerica Bank provided the senior debt while RBC Capital and Midwest Mezzanine provided subordinated debt and preferred stock.
York Label is one of the nation’s leading manufacturers of pressure sensitive labels used in a wide variety of applications in the consumer products, medical, direct mail, CD/DVD and security markets. York supplies labels to many of the country’s most popular consumer products companies. York’s labels are recognized for their high-quality design characteristics, as well as their important role in providing product content and security information to consumers.
According to York Label CEO Tim Hare, “our senior management is very excited about taking the Company to the next level with Huron as our partner. With the significant capital resources and strong operational support that Huron provides, we will be well positioned to take advantage of tremendous growth opportunities we see in our industry.”
Peter Mogk, a Partner at Huron, added, “The York transaction was right in our sweet spot. The Company is a leading player in the label industry with a great management team and strong market demand for their products.”
Despite the weak financial markets, Huron Capital has been on a torrid acquisition pace, acquiring 3 companies in the last 45 days. In addition to York, Huron Capital recently acquired McCann Education Centers, Inc. in August and The Creative Circus, Inc. earlier in September. Their latest York acquisition caps a run of 8 acquisitions over the past two years. According to Brian Demkowicz, Managing Partner of Huron Capital, “you certainly have to work harder and dig deeper in this market, but there are definitely high quality acquisition opportunities available for disciplined, value-oriented investors. We believe this is a good time to buy and have not wavered from our stringent investment criteria, enabling us to selectively build a strong portfolio of companies.”
Huron Capital Partners invests in acquisitions, buyouts and recapitalizations of growing middle-market companies having revenues between $10 million and $100 million. Huron Capital’s strategy is to partner with strong management teams in acquiring niche manufacturing, specialty service, and value-added distribution companies that can be built through acquisition and organic growth.
For further information, please contact Brian Demkowicz or Peter Mogk at Huron Capital Partners (313-496-1050), or visit their website www.huroncapital.com