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ST. LOUIS, Dec. 6, 2005 – Converters Extruded Films, Inc., a manufacturer of a wide range of polyethylene films, was acquired by Shenandoah Capital Partners. 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 a portion of the equity capital to finance the acquisition. Southwest Bank provided the senior debt in the transaction. Financial terms of the transaction were not disclosed.
"I am excited about the opportunity to expand the business with the help of our new financial partners," said Evan Nunn, President and CEO of Shenandoah Capital Partners and Converters Extruded Films, Inc.
Converters Extruded Films, Inc. is a manufacturer of a wide range of high quality polyethylene film materials to the packaging and converting industry. Typical uses for their films include poly bag converting, films for lamination, form fill and seal application and flexographic printing.
"Converters Extruded Films is a well established company and represents an excellent investment opportunity for Eagle Fund," said Scott D. Fesler, Principal of Bush O'Donnell Capital Partners. "Evan Nunn is a seasoned executive and has a broad range of experiences in manufacturing. These experiences, coupled with a strong desire to grow the business, represent an optimal investment mix for us."
About Converters Extruded Films, Inc.
Converters Extruded Films, Inc. is a manufacturer of a wide range of high quality polyethylene film materials to the packaging and converting industry. Typical uses for their films include poly bag converting, films for lamination, form fill, seal application, and flexographic printing.
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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