|FOR IMMEDIATE RELEASE||
Chris Tofalli Public Relations, LLC
+1 914 834 4334
NEW YORK, June 16, 2003 - Arsenal Capital Partners, a private equity firm that invests in middle-market manufacturing and service companies, today announced the successful closing of Arsenal Capital Partners LP and its affiliated funds with total capital commitments of $300 million, exceeding its initial target of $250 million.
The Arsenal Capital team combines industry and investment professionals with experience at ABB, AlliedSignal/Honeywell, Credit Suisse First Boston, Donaldson, Lufkin & Jenrette, DuPont, General Electric, General Motors, Goldman Sachs, Invensys, Merrill Lynch, Morgan Stanley, W.R. Grace, and Warner Lambert.
"We are pleased with the successful completion of our debut fundraising effort, particularly given the challenging fundraising environment," said Mr. Mullen. "Investors responded positively to our focused and disciplined investment approach as well as our balanced team of investment and operating professionals."
Arsenal Capital invests in middle-market manufacturing, healthcare, and business service companies. In particular, the firm invests where it believes it can add value by providing capital and resources to support management-led initiatives that accelerate growth, upgrade key business processes, and improve productivity. The firm targets investments in companies with revenues between $50 million and $500 million.
The firm has made three investments since its formation: Interdynamics, Inc., a leading supplier of specialty chemicals to the automotive aftermarket; Renaissance Mark, Inc., the largest U.S. manufacturer of prime labels for the packaging industry; and Printing Solutions Holdings, a leading provider of printing solutions, including consumables and hardware for niche markets.
Arsenal Capital Partners is a New York-based private equity firm that makes control investments in manufacturing and business service industries where it has substantial investment and operating experience. Arsenal Capital invests in companies that offer significant opportunities for growth and productivity gains. The firm utilizes its broad operating and functional expertise to support management teams and improve business performance. More information about Arsenal is available at www.arsenalcapital.com.