EdgeStone's Equity Fund acquires Richards Packaging

Date Closed: 11/22/2002

Value: Undisclosed

EdgeStone Capital Partners' Equity Fund, together with an individual entrepreneur, acquired Richards Packaging Inc., a manufacturer and distributor of glass and plastic bottles throughout Canada and the U.S. The deal, arranged by Newpoint Capital Partners, closed on November 22, 2002, and its value is undisclosed. In addition to the equity funding provided by the fund and the individual entrepreneur, financing for the transaction was provided by a senior debt facility from LaSalle Business Credit/ABN AMRO Bank and a mezzanine debt facility, which was jointly funded by Crown Capital Partners Inc. and EdgeStone's Mezzanine Fund.

BLG represented LaSalle Business Credit/ ABN AMRO on the senior debt facility, with a team that included Frank Callaghan, Howard Silverman, Simon Wormwell and Carlyn Klebuc, with Daniel Gendron assisting on Quebec issues.