Quarton Partners Represents Tennenbaum Capital Partners in the Sale of Revere Packaging to Progress Equity
Monday, December 12, 2011
Birmingham, Michigan – Quarton Partners is pleased to announce that Revere Packaging, LLC, a portfolio company of Tennenbaum Capital Partners, LLC, has been acquired by Progress Equity Partners, Ltd.
Todd Gerch, Managing Director of Tennenbaum Capital Partners, commented on the sale, “We were thoroughly impressed by Quarton’s process. It was highly efficient, structured and resulted in a great outcome for Tennenbaum and the management team at Revere Packaging. We are confident that Progress will be a great partner for the business.”
Revere Packaging, LLC, a subsidiary of Revere Industries, LLC, is a niche provider of single-use aluminum and plastic packaging solutions to the foodservice market. Revere Packaging markets a full line of round, square, rectangular and oblong containers used for baked goods, pizza, salads and other prepared foods. Revere Packaging is headquartered in Shelbyville, Kentucky.
Revere Industries, LLC, headquartered in Westfield, Indiana, is a holding company with manufacturing capabilities in plastic injection molding, powder metallurgy, aluminum casting and food service packaging.
Tennenbaum Capital Partners, LLC, headquartered in Santa Monica, California, is a leading multi-strategy alternative investment management firm. Since the firm’s founding in 1999, Tennenbaum has invested $10 billion in approximately 200 portfolio companies. Today, the firm has capital under management of approximately $5 billion.
Progress Equity Partners, Ltd., with offices in Dallas and Denver, is a private equity investment firm that acquires majority control of entrepreneurial, middle market service-based businesses. The principals of Progress Equity are relationship driven, long-term investors and have been partnering with owners and management to build industry leading companies since 1993.
About Quarton Partners
Quarton Partners, headquartered in Birmingham, Michigan, is a specialty investment banking firm, serving privately held and publicly traded companies, as well as private equity firms. Quarton Partners assists its clients with mergers and acquisitions, private capital raising, restructurings, valuations, and other financial advisory services. Its principals have successfully completed hundreds of engagements in a wide variety of industries across the U.S. and throughout the world. Quarton Partners is a division of Leonard & Company, Michigan’s largest independent broker/dealer.