16May/16

Transnational Foods, Inc. announces Brett Barcelona as Executive Vice President

MIAMI–(BUSINESS WIRE)–Transnational Foods, Inc. (www.transnationalfoods.com), a leading marketer of private label grocery products, announced today that Brett Barcelona has joined the firm as Executive Vice President, New Business to further develop the company’s growing portfolio of regional and national customers. Brett comes with a wealth of industry experience, having spent the last 23 years at Daymon Worldwide. During his time at Daymon, Brett held various executive level positions working with major retailers and private brand suppliers. Most recently, Brett was President and General Manager of Daymon’s retail services business units.

Brett will continue to drive the success Transnational Foods has had in providing great products to top retail companies throughout America. “I am excited to join Transnational Foods to begin working with a highly motivated team and to grow our relationships and business with current and new customers. I am fortunate to be joining such a respected company that prides itself on being the most reliable global sourcing company that provides grocery stores across the United States with cost competitive and superior quality products.”

“Brett’s wealth of experience and industry knowledge has made him a key addition to our organization,” said Marcelo Young, CEO of Transnational Foods. “We view Brett’s appointment as a sign of our commitment to being the leading globally-sourced foods provider in our industry. Our new innovative products and increasing demand from our customers led us to look for an addition to our team who fits in with our ethos of innovation and exceptional service. We are thrilled to have Brett join us and I am confident that he will play a key role in providing and implementing high quality solutions for our customers.”

About Transnational Foods, Inc.

Transnational Foods, Inc. offers leading supermarkets, wholesalers, dollar stores, convenience stores and distributors a wide range of products, either under its well-known “Pampa” brand, its premium brand “della Natura” or private brands. Transnational Foods sources more than 350 SKUs manufactured in 50 production facilities located in 25 countries, all of which are coordinated from procurement offices located in South America and Asia. Additional information is at www.transnationalfoods.com.

Contact

Transnational Foods, Inc.
Brett Barcelona, 305-365-9652 Ext 228
bbarcelona@tfinc.com.

Source: Business Wire

28Jan/16

Odyssey Investment Partners Completes Acquisition of Integro

New York, November 2, 2015

Odyssey Investment Partners, LLC today announced that an affiliate has completed its acquisition of Integro Ltd., an international insurance brokerage and risk management firm. Financial details of the investment were not disclosed.

Founded in 2005, Integro has evolved to become a leading specialty insurance brokerage firm with a significant global presence. In recent years, Integro has been actively building its specialty areas, including Aviation; Benefits Consulting; Entertainment; Financial Institutions; Healthcare; Marine/Energy; Professional Services;  Real Estate/Construction; Reinsurance; Retail/Consumer Services; and Trade & Logistics/Transportation in North America, and globally.

Integro has catapulted to the eighth largest private broker in the United States in terms of property/casualty written premium, according to Insurance Journal. Integro serves clients in over 125 countries from more than 40 offices across the globe.

Jeffrey McKibben, a Managing Principal of Odyssey Investment Partners, said, “We are excited to complete this transaction and to build on Integro’s exceptional success to date in the brokerage and risk management sectors. We look forward to our new partnership with the Integro management team and to providing the resources and support needed to achieve continued success.”

The Integro management team led by William Goldstein, John Sutton, Toby Humphreys and Marc Kunney remains in place, and certain members of the management team and other employees remain shareholders in the company.

Mr. Goldstein, previously President of Integro, has been named Chief Executive Officer. He said, “We are thrilled to be aligning with Odyssey, an active partner that will add value in so many initiatives, including refining strategic direction, accelerating acquisitions, improving financing, and supporting our deep commitment to innovation and client service.”

Sandler O’Neill + Partners, L.P. served as financial advisor and Latham & Watkins LLP served as legal counsel to Odyssey in the transaction. Evercore served as financial advisor and Cahill, Gordon & Reindel, and Proskauer Rose LLP served as legal counsel to Integro.

About Integro Integro is an insurance brokerage and risk management firm. Clients credit Integro’s superior technical abilities and creative, collaborative work style for securing superior program results and pricing. The firm’s acknowledged capabilities in brokerage, risk analytics and claims are rewriting industry standards for service and quality. Launched in 2005, Integro and its family of specialty insurance and reinsurance companies, some having served clients for more than 150 years, operate from offices in the United States, Canada, Bermuda and the United Kingdom. Its U.S. headquarters is located at 1 State Street Plaza, 9th Floor, New York, NY 10004. 877.688.8701. www.integrogroup.com

About Odyssey Investment Partners Odyssey Investment Partners, LLC, with offices in New York and Los Angeles, is a leading private equity investment firm with a 20+ year history of partnering with skilled managers to transform middle-market companies into more efficient and diversified businesses with strong growth profiles. Odyssey makes majority controlled investments in industries with a long-term positive outlook and favorable secular trends. For further information about Odyssey Investment Partners, LLC, please visit www.odysseyinvestment.com.

Contact

For Integro:
Betsy Van Alstyne
Integro
(973) 820-1469

For Odyssey Investment Partners:
Mark Semer
Kekst and Company
(212) 521-4800

www.integrogroup.com

10Sep/15

Cave Creek Capital Closes Investment in Transnational Foods

September 10, 2015

Cave Creek Capital (“CCCM”) is pleased to announce its investment in Transnational Foods LLC (“Transnational”), a leading provider of globally sourced, competitively priced branded and private label food products. Transnational services several major national food retailers including Wal-Mart, Dollar Stores and Supermarkets. Transnational Foods was one of the first to develop cost-effective procurement programs with major retailers, enabling them to expand their in-house and private label food offerings by accessing international supply partners in 25 different countries. Their diverse and long standing global relationships allow them to optimize price, timing of delivery and product mix for major retailers, supplying over 400 SKU’s to 30,000 stores nationally in categories such as canned fruits and vegetables, seafood, pasta, olive oil and lemon juice.

CCCM’s recapitalization provided growth capital and funded a repurchase of shares from minority shareholders in conjunction with a strong team of investment partners, including Stewart Capital, C3 Capital and Eagle Capital. “We are pleased to have a group of committed partners to help our company grow to the next level.” states Marcelo Young, President of Transnational. “Our new partners can provide the capital necessary to expand our personnel, product lines and add acquisitions for growth”.

Cave Creek Capital has an extensive track record of successful investments where Founders can gain personal liquidity, add growth capital and continue to run their companies. G. Kevin Fechtmeyer, CCCM Managing Partner, added; “We can offer the best of a Family Office combined with an institutional investor’s resources. Our average portfolio company has grown over 300% during our investment period. We look forward to Marcelo’s team at Transnational being our partners for many years.”

www.transnationalfoods.com

09Sep/15

QK Holdings Case Study

Leading Brand Resurgence

Overview
  • QK founded as Denny’s franchisee by Robbie Qualls and Doug Koch in 1993 with their first restaurant in Holbrook, AZ
  • QK purchases 9 units in Oregon, Dennis Ekstrom joins company as senior executive in 1995
  • QK diversifies into CSR in 2002 with an acquisition of Del Taco units in New Mexico
  • QK expands into 9 states with 88 restaurants by 2011, becoming the largest Denny’s franchisee in the U.S. with nearly $100MM of revenue and the strongest operating team in the system
  • Robbie Qualls seeks to retire and cash out in 2013 while Doug Koch wants to continue to expand the business
  • They select Cave Creek Capital as a 50% partner in a $43MM leveraged recapitalization
  • Highly complex deal closed with 79 separate LLC’s and three different corporate entities combined in hybrid stock/asset transaction; met liquidity and tax needs of the three founders
  • Founders, Doug Koch and Dennis Ekstrom receive partial liquidity for their shares and continue as senior management while Robbie Qualls remains as Vice Chairman of the Board
CCCM4878_MSP_3159

Denny's_logo CCCM4878_MSP_3278

Results
  • QK restaurant base grows by 15 units and Denny’s brand surges under new corporate leadership, with run rate revenues growing nearly 30% within two years
  • Record comp store growth of nearly 10% for 2015
  • EBITDA grows almost 50% since the aquisition
  • Substantial progress in building infrastructure; CFO hired, first audit and consolidated tax return
  • Restaurant industry in general and Denny’s, in particular, continues strong resurgence in performance and valuations under CEO, Jon Miller

 

09Sep/15

Transnational Case Study

Attracting Blue Chip Clients

Overview
  • Marcelo Young, executive for a multi-national food company based in Argentina, identifies need for value-priced brand-equivalent food items by U.S retailers
  • Transnational founded by Marcelo Young in Miami in 2002 and gains rapid penetration in Dollar Store channel just as they begin expanding food offerings
  • During Recession of 2008-09, U.S retailers expand value brand offerings and TNF is well positioned to grow as consumers shift towards value priced private label/National Brand Equivalents
  • TNF adds WalMart as a customer in 2010 and grows rapidly to 200 SKU’s
  • Marcelo Young wins E&Y Entrepreneur of the Year Award in 2015 as Company nearly doubles sales in four years
  • Management seeks capital partner to expand board, provide liquidity to shareholders and strengthen balance sheet for further growth
  • TNF selects Cave Creek Capital to lead majority recapitalization based on its track record of success in Founder Led Growth Recaps

 

Results
  • Transaction closes in July 2015
  • Management cashes out minority shareholders, gains personal liquidity and establishes a larger ownership stake for the management team
  • Strategic Plan targets 200% sales growth in five years through both organic growth and acquisitions

 

 

16Jun/15

John Hines Joins Bastech

January 2015

CCCM John HinesJohn Hines, VP Commercial Development Mining. John has over 29 years of experience in the chemical processing industry with last 11 years focused on chemicals for the mining industry. Prior to joining Bastech in 2014, John worked briefly as the Technical Director, Industrial Minerals for SNF FloMin and for Georgia-Pacific Chemicals LLC for 22 years in a number of different capacities including Senior Scientist, Program Manager, R&D Manager and Business Manager. He has co-authored over seventy patents, patent applications, and technical papers. While at Georgia-Pacific Chemicals, John’s project areas primarily included flotation reagents for mining, oilfield chemicals, dust control reagents, freeze conditioners, adhesives, composite materials, and concrete admixtures. From 1985 to 1992, John worked as an R&D Chemist for Milliken Chemicals, where he focused primarily on polymeric colorants and light stabilizers. John holds a PhD in Physical Organic Chemistry from The University of Georgia and a BA in Chemistry from Eckerd College.

 

Source: Bastech

09Jun/15

Integro Acquires UK’s Kite Warren & Wilson Marine Specialists

New York and London (May 13, 2015) – International insurance broker and risk management firm Integro Ltd. today announced its acquisition of Kite Warren & Wilson Ltd, a London-based insurance brokerage with recognized specialties in marine hull & liability coverage and financial lines.  Financial considerations of the transaction have not been disclosed.

Kite Warren & Wilson (KWW) was formed in 1999. With marine coverage a mainstay as a core offering, KWW has since expanded into the non-marine, financial and professional risk, and energy fields and today provides a broad range of services in retail and wholesale broking.

“Kite Warren & Wilson covers all types of marine transport, and we are delighted in particular at the extraordinary level of expertise in marine hull coverage our new colleagues add to Integro’s extensive marine capabilities,” said Toby Humphreys, Integro’s London chairman. “The KWW team, led by co-founders Tom Wilson and Mark Warren, also enhances Integro’s financial and professional lines capabilities in the UK marketplace.” KWW’s Chairman, Ray Kite, is retiring after 57 years in the industry.

Wilson, a managing principal, sees significant client benefit in the combination of forces: “We were attracted to Integro’s model of bringing together specialty broking operations; it made for a natural fit. What’s more, we look forward to offering our existing clients the broad range of quality expertise and services above and beyond their marine coverage needs that the Integro group provides.  We also relish the opportunity to help drive international growth at this exciting time in Integro’s development.”

In addition to supplementing the firm’s global marine practice offerings, Integro President William Goldstein said the Kite Warren & Wilson acquisition will play an important role in expanding Integro’s global marine capabilities and enhancing service to Integro’s large Marine oriented retail clients. In addition, KWW enjoys a significant presence in Asia thus further expanding Integro’s international footprint.

Integro has been an active acquirer of specialist firms across its platform as it continues to establish itself as a provider of specialty solutions in the insurance brokerage space. Over the past year, Integro added NPA Insurance Broking Group (April 2015); Howard Global Insurance Services (December 2014); Ventura Insurance Brokerage (December 2014); Dominium (November 2014), Stonehouse Conseillers Ltd (August 2014); and Richard Thacker & Company Limited (April 2014).

Integro celebrated its tenth anniversary May 6 and President Goldstein is focused on the firm’s future.  “Kite Warren & Wilson and other recent acquisitions underscore our commitment to being a leading international specialty brokerage firm,” he said.

Source: Integro

09Jun/15

The VMC Group Completes Major Recapitalization and Two Acquisitions

May 19, 2015

The VMC Group (“VMC”), a world leader in innovative shock, seismic, vibration and engineering services, today announced a $32 million minority recapitalization for purposes of refinancing its existing senior and junior debt, and preferred equity securities. Additionally, the Company announced two new acquisitions in furtherance of its plan to become the preeminent seismic and vibration isolation business in the world. VMC secured a new credit facility from East West Bank and attracted Seacoast Capital as a new minority partner and preferred shareholder. VMC acquired Advanced Antivibration Components (AAC) from Designatronics, located in New Hyde Park, NY, as well as a majority control position in Dynamic Certification Laboratories (DCL) of Reno, NV. The recapitalization and acquisitions closed simultaneously on May 8, 2015.

“We are pleased to have completed a deal of this magnitude. It is a tribute to our people and Company to be able to complete these highly complex transactions in one closing,” states John Wilson, Jr., Chief Executive Officer of The VMC Group. “We are excited to have East West and Seacoast as our new partners. They provided the capital necessary to support the acquisitions of AAC and DCL which will accelerate our next stage of growth, specifically in web-based B to B sales and the expansion of our testing and measurements business. East West was a reliable and diligent partner throughout the entire process and Seacoast moved decisively to complete the transaction within the targeted terms and timeframe. These deals, in addition to ramping up our expansion, strengthen our balance sheet and provide capital for future acquisitions. East West and Seacoast share our sense of urgency to execute on our strategy and continue on our quest to become a great company.”

Source: The VMC Group

18Dec/14

NewStar Leads Financing for Integro

BOSTON, Dec. 10, 2014 (GLOBE NEWSWIRE) — NewStar Financial, Inc. (Nasdaq:NEWS), a specialized commercial finance company, announced today that it served as Lead Arranger and Administrative Agent for Senior Credit Facilities provided to Integro Ltd. (“Integro” or the “Company”), a leading specialty insurance brokerage and risk management firm. The credit facilities were comprised of a revolving line of credit, which was undrawn at closing, and a combination of funded and delayed draw term loans. The transaction also included an accordion feature, which could significantly increase the size of the facilities at the Company’s request subject to lender approval.

The initial proceeds from the financing were used to refinance existing debt with significant undrawn borrowing capacity remaining available to support the Company’s future funding needs related to its growth strategy.

“As we approach our tenth anniversary, Integro is poised for exceptional growth both organic and through continued acquisition of specialty businesses,” said President William Goldstein. “The relationship with NewStar ensures that we have ready access to the resources to deliver on a growth strategy that includes an expanded geographic footprint and the addition of new products and specialties to Integro.”

Launched in 2005, Integro has grown to become one of the top 25 brokers in the U.S., providing insurance products and services to a wide range of clients – from Fortune 500 companies to high net worth individuals. The Company’s core product offerings include traditional property and casualty, marine, personal, employee benefits and aviation insurance lines, as well as reinsurance products. Integro is organized into client-centric divisions focused on companies with activities in key markets and a variety of industries in which it specializes, including healthcare, media/entertainment, hospitality, technology, construction, food and consumer products, real estate, aviation, professional services and waste management.

Headquartered in New York City, the company operates from offices across the United States, Canada, Bermuda and the United Kingdom.

“We are very excited by the opportunity to back one of the leading independent insurance brokerag firms in the world as it continues to execute its strategic growth plan.  With the ability to provide financing solutions up to $300 million, we believe that we will be able to partner with Integro for many years to come as they continue to grow the business organically and through acquisitions,” said Jason Wendorf, a senior banker at NewStar. The deal team for the transaction included Robert Milordi, Kevin Mulcahy and Marty Loew.

About NewStar Financial, Inc.:

NewStar Financial (Nasdaq:NEWS) is a specialized commercial finance company focused on meeting the complex financing needs of companies and private investors in the middle market. The Company specializes in providing senior secured debt financing options to mid-sized companies to fund working capital, growth strategies, acquisition and recapitalization, as well as, equipment purchases. NewStar originates loans and leases directly through a team of experienced, senior bankers and marketing officers organized around key industry and market segments. The Company targets ‘hold’ positions of up to $50 million and selectively underwrites or arranges larger transactions for syndication to other lenders.

NewStar is headquartered in Boston MA and has regional offices in Darien CT, Atlanta GA, Chicago IL, Dallas TX, Los Angeles CA, New York, NY, San Francisco CA, and Portland OR. For more detailed information, please visit our website at www.newstarfin.com.

Source: Nasdaq