News
PNC Equity Partners, L.P. Participates in a Recapitalization of Caldwell & Gregory
Pittsburgh,PA [October 24, 2008]—PNC Equity Partners, II, L.P., announced today their participation in the recapitalization of Caldwell & Gregory LLC to provide additional capital growth. Headquartered in Manakin-Sabot, VA, Caldwell & Gregory is the leading provider of laundry equipment and laundry rooms for colleges, apartments, condominiums, coin laundries and on-premise equipment for small and large businesses.
Within PNC Equity Partners, the transaction was led by Jack Glover, Justin Bertram, and Michael Rost, who will serve as directors on the Board of Directors. In addition, Andrew Wiechkoske also participated in the transaction.
Based in Pittsburgh, Pennsylvania, PNC Equity Partners (www.pncequity.com) invests in “important companies operating in micro-markets™,” making private equity investments of $10 million to $30 million in leveraged buyouts, recapitalizations and large minority financings of middle market companies with enterprise values between $25 million and $150 million across a variety of industry sectors, including niche manufacturing, value-added distribution, and outsourced services.
