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ST. LOUIS, Jan. 19, 2006 – Whitney Design of St. Louis, Missouri, an importer and distributor of non-electrical laundry products, announced today a successful management buyout. Eagle Fund I, L.P., a licensed Small Business Investment Company managed by Bush O'Donnell Capital Partners of St. Louis, Missouri supplied subordinated debt and First Bank Business Capital provided the senior debt. Financial terms of the transaction were not disclosed.
"We are excited about our new partnership with Bush O'Donnell and First Bank Business Capital, and are looking forward to working with them to continue to expand and grow our business," said James Glenn, President and CEO of Whitney Design.
Whitney Design is an importer and distributor of non-electrical laundry products. Whitney Design is in the business of importing and distributing household goods, principally ironing board pads and covers, laundry care products, closet organizers, and travel accessories.
"Whitney Design has positioned itself as a clear market leader," said Wayne L. Smith, II, President of Bush O'Donnell Capital Partners. "We are excited to back the management team who has a proven record of growing the business."
About Whitney Design
Located in St. Louis, Missouri, Whitney Design is an importer and distributor of non-electrical laundry products. Whitney Design is in the business of importing and distributing household goods, principally ironing board pads and covers, laundry care products, closet organizers, and travel accessories. For additional information, visit their website at www.whitney-design.com.
About Bush O’Donnell
Bush O'Donnell is a holding company headquartered in St. Louis with interests in investment management, insurance, manufacturing and private equity investments. Since 1988 its principals have been investing in a wide range of publicly and privately owned businesses. One of Bush O’Donnell’s wholly owned subsidiaries, Bush O’Donnell Capital Partners, manages Eagle Fund I, L.P., a Small Business Investment Company with committed capital of $75 million. Eagle Fund invests from $1 million to $4 million in the mezzanine debt and equity securities of companies with compelling business plans.
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