6/9/2004
Business Wire
(Copyright (c) 2004, Business Wire)
DIX HILLS, NY.--(BUSINESS WIRE)--June 9, 2004--New York-based CLB Partners, LLC announced today the formation of a private equity fund.
The resurgence of the US economy, coupled with ongoing trends towards consolidation and value added services has led CLB Partners, LLC to establish a private equity fund. Over 80% of America's small to mid-size companies will be sold or merge over the next 20 years as entrepreneurs are challenged by ownership transition issues and continuing pressure on sales and margins.
An ever changing market coupled with an expanding global economy present business owners with challenges and opportunities. CLB seeks to capitalize on these trends and its unique relationships with leading financial institutions to collaborate with entrepreneurs in exploring ways to create value for the owners, employees, customers, and suppliers.
CLB has partnered with several successful, serial entrepreneurs to invest capital and provide strategic and tactical resources to middle market companies. The focus of the fund is to invest in companies with $2 to $10 million in historical and sustainable cash flow. CLB will co-invest with business owners and support management teams in an effort to help companies grow and expand both internally and externally for the long term.
According to Jim Parrino, co-founder and managing director of CLB Partners, LLC, "What differentiates our equity fund from others is the unique combination of practical experience and the proven track record of our investors; the consultative nature of our practice; and our buy and build strategy. Ultimately we are looking to partner with talented entrepreneurs to create a common vision that results in maximizing the value of the company for all involved."
Joining the firm's private equity efforts is Alex Abreu, a 17-year veteran with Bank of America and Banc of America Securities. Most recently he served as a Senior Vice President in their middle market banking group. Abreu's practice within Bank of America focused on growing, middle market companies located throughout Southern Florida. He was responsible for assisting his clients to access the debt and equity markets, as well as providing M&A advisory services.
"Abreu brings a consultative approach to partnering with successful entrepreneurs in an effort to buy and build businesses, thereby adding value," said Peter Hughes, CLB Partners LLC co- founder and managing director. "His significant experience with Bank of America managing financial transactions for middle market clients and expertise in evaluating strategic alternatives compliments the firms commitment to bring the resources of Wall Street to Main Street."
About CLB Partners, LLC
CLB Partners, LLC specializes in providing financial advisory and investment banking services to the middle market, an area traditionally under served by Wall Street investment banks. Specifically, CLB has partnered with several leading commercial banks and global financial institutions to bring its experience and expertise in mergers and acquisitions, capital structure analysis, enterprise valuation and strategic advisory to benefit middle market companies. The firm is headquartered in New York and maintains offices in Boston, Charlottesville and Ft. Lauderdale. For more information please call 631/425-0710 or visit the CLB Partners web site at www.clb-partners.com.
CONTACT: CLB Partners, LLC, Peter J. Hughes or Alex J. Abreu, 631/425-0710
Press Releases
01/24/2007 - CLB Partners invests in Fibro Chem.
09/15/2006 - CLB Partners advises on sale of Healy Systems, Inc. to Franklin Electric Co., Inc.
05/31/2005 - CLB Partners advises on sale of the Sweet Paper companies to United Stationers, Inc.
04/26/2005 - CLB Partners advises on sale of Anpesil LLC to Investor Group led by CLB Partners and certain members of the Pelaez family.
09/30/2004 - CLB Partners advises on sale of three dealerships from The Shelton Family of Dealerships to Automotive Management Services, Inc.
06/10/2004 - Alex Abreu Joined CLB Partners As A Managing Director, Leading Firm's Private Equity Effort
06/09/2004 - CLB Partners Announces Formation of Private Equity Fund
12/10/2001 - Paradise Retains CLB Partners to Explore Acquisition Opportunities
11/13/2001 - Breakneck Growth of PC Teach It Magazine Calls for Reedy River Press to Explore New Capital; CLB Partners Retained to Assist with Capital Sourcing
10/29/2001 - Computer Management Consultants Secures Multiple Contracts for New Wireless Interface Technology; OakScape e-Business Division Poised for New Growth
10/09/2001 - CLB Partners Announces Appointments of Elizabeth DeBiasi and Jonathon Grayson to Vice President; New Office Opens in Charlotte, NC
09/24/2001 - Computer Management Consultants to Explore Strategic Alternatives
