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GLENCOE CAPITAL WINS 2009 DEAL MAKER OF THE YEAR
Crain's Detroit Business and ACG Detroit Recognize Michigan Fund's Three Deals, Glencoe Also First Runner-Up for 2009 Deal of the Year
Birmingham, Mich., and Chicago, Ill. (February 25, 2010) - Glencoe Capital has won the 2009 Deal Maker of the Year Award from Crain's Detroit Business and the Detroit Chapter of the Association for Corporate Growth for the investment activities of the firm's Michigan Opportunities Fund during the past year, announced David S. Evans, Glencoe Capital's Chairman and CEO.
Glencoe Capital also finished as first runner-up for the 2009 Deal of the Year Award for the Michigan Opportunities Fund's investment in Moosejaw Mountaineering, a leading multi-channel retailer of premium quality outdoor active apparel and equipment based in Madison Heights, Mich.
Glencoe Capital will be honored along with other 2009 M&A Award winners at a reception by Crain's judges on March 18, 2010.
"We are delighted to receive this recognition from Crain's Detroit Business and the ACG," said Evans. "Michigan continues to offer excellent investment opportunities for Glencoe Capital, and we look forward to continuing to create value at our portfolio companies and promote economic activity in the state."
Glencoe Capital's Michigan Opportunities Fund represents a groundbreaking partnership between the public and private sectors, leveraging equity capital to make lead and co-sponsored acquisitions and growth equity investments in companies in Michigan or in businesses that want to expand operations into the state. The Fund invests in growing companies that can generate attractive returns for investors while promoting business growth to help improve the economic vitality of the state.
Last year, the Michigan Opportunities Fund invested in three deals, including Moosejaw. The Fund's first investment was in Grand Rapids, Mich.-based American Education Group, which is building a national network of high-performing pre-kindergarten to 12th-grade schools that provide individualized programs to address the needs of children with learning differences.
The Michigan Opportunities Fund's second investment was in NOVO 1, a leading provider of inbound customer interaction solutions to clients across all industries. NOVO 1 was ranked as the 25th-largest inbound services provider in the US in 2008, according to Customer Inter@ction Solutions magazine. Novo 1 plans to open a customer care and contact center in western Michigan in 2010 that will employ more than 300 people.
In January 2010, the Michigan Opportunities Fund made its fourth portfolio investment in Saline, Mich.-based Flatout, Inc., a producer of premium healthy flatbreads used as sandwich wraps and hamburger rolls, and for hors d'oeuvres, flatbread pizza and quesadillas. Flatout serves a diverse base of retail flatbread customers, including supermarkets, mass merchandisers and club stores.
Founded in 1993, Glencoe Capital is a private equity firm focused on lead-sponsored acquisitions and growth equity investments in lower middle-market companies. Glencoe Capital has focused on investments in business services, financial services, consumer products, and industrials. Glencoe Capital currently manages two private equity funds: the Michigan Opportunities Fund and Glencoe Capital Partners III, L.P. The firm has closed more than 30 transactions totaling more than $1 billion in value.
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