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ST. LOUIS, Jul. 20, 2005 – Lynn Roberts of Omaha, Nebraska, an importer and distributor of sunglasses, reading glasses, and general merchandise, announced today the successful closing of a recapitalization led by Eagle Fund I, L.P., a licensed Small Business Investment Company managed by Bush O'Donnell Capital Partners of St. Louis, Missouri. Financial terms of the transaction were not disclosed.
Eagle Fund was joined in the financing by C3 Capital Partners, a Small Business Investment Company in Kansas City, Missouri and Southwest Bank of St. Louis.
"We are excited about our new partnership with C3 Capital and Bush O’Donnell. With these new partners, and our bank lender, Southwest Bank, Lynn Roberts is financially positioned to continue the significant growth of its business," said Keith Josephson, President and CEO of Lynn Roberts.
Lynn Roberts is a leading independent importer and distributor of sunglasses, reading glasses, and general wholesale merchandise in the United States. Lynn Roberts has 43 years of experience in importing products from overseas. Lynn Roberts offers customers a diverse selection of eyewear products including sunglasses, reading glasses, and related accessories. Sunglass merchandise is primarily sold under the Lynn Roberts and SunRunner brand names, while reading glasses are marketed under the Executive Choice and TruSight brands.
"Lynn Roberts is a leading importer and distributor of eyewear and general merchandise and represents an excellent investment opportunity for Eagle Fund," said Wayne L. Smith, II, President of Bush O'Donnell Capital Partners. "Lynn Roberts is a market leader with a management team that has significant industry expertise and a clear commitment to growing the business."
About Lynn Roberts
Lynn Roberts is one of the largest independent importers of sunglasses, reading glasses and general wholesale merchandise in the United States, and is centrally located in Omaha, Nebraska. Lynn Roberts has 43 years of experience in importing and distributing products from overseas. For additional information, visit their website at www.golynnroberts.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.
About C3 Capital Partners
C3 Capital Partners, L.P. is a Small Business Investment Company with committed capital of over $100 million and offices in Kansas City and Dallas that provides capital for businesses to finance later stage growth, strategic acquisitions, ownership transitions, and recapitalizations. The fund makes $2 million to $10 million investments in the form of subordinated debt or preferred equity in established businesses with a history of profitability.
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