ATLANTA (April 11, 2006) – Nancy Creek Capital, an Atlanta-based mezzanine and equity investment fund, provided SouthPointe Ventures with $1.275 million in subordinated debt and equity to support SouthPointe’s private-equity buyout of SunBelt Thread and Packaging, Inc.
SouthPointe, a private-equity holding company headquartered in Atlanta, Ga., acquired Sunbelt on April 10. It was the firm’s fourth private-equity acquisition. SouthPointe plans to grow SunBelt through expansion of its customer base in the region and through targeted acquisitions.
The newly named Sunbelt Packaging, LLC is a leading independent packaging products and industrial thread distribution company in the Southeast. Based in York, S.C., the company provides a wide variety of products and services to major manufacturers and distributors. SunBelt prides itself on its ability to offer a high level of service combined with outstanding pricing derived from its global sourcing practices. The company has primarily served the Carolinas and Georgia for the past 25 years.
SouthPointe’s new CEO, Dan Janick, brings substantial financial and private equity experience to SunBelt. SouthPointe’s management team, whose members average eight years with the company, will support Janick, as will SunBelt’s seller, who also will also remain involved with the company.
About Nancy Creek Capital
Nancy Creek Capital’s $50 million mezzanine and equity investment fund is a strategic partner to commercial banks in meeting bank customers’ needs for growth, recapitalization and acquisition capital and for real estate project financing. The Nancy Creek Capital investment fund is a provider of subordinated debt and equity for small to middle market companies and real estate projects primarily in the Southeast region. The Fund is managed by The Branch-Shelton Company, LLC. For more information, visit www.nancycreekcapital.com.
SouthPointe, a private-equity holding company headquartered in Atlanta, Ga., acquired Sunbelt on April 10. It was the firm’s fourth private-equity acquisition. SouthPointe plans to grow SunBelt through expansion of its customer base in the region and through targeted acquisitions.
The newly named Sunbelt Packaging, LLC is a leading independent packaging products and industrial thread distribution company in the Southeast. Based in York, S.C., the company provides a wide variety of products and services to major manufacturers and distributors. SunBelt prides itself on its ability to offer a high level of service combined with outstanding pricing derived from its global sourcing practices. The company has primarily served the Carolinas and Georgia for the past 25 years.
SouthPointe’s new CEO, Dan Janick, brings substantial financial and private equity experience to SunBelt. SouthPointe’s management team, whose members average eight years with the company, will support Janick, as will SunBelt’s seller, who also will also remain involved with the company.
About Nancy Creek Capital
Nancy Creek Capital’s $50 million mezzanine and equity investment fund is a strategic partner to commercial banks in meeting bank customers’ needs for growth, recapitalization and acquisition capital and for real estate project financing. The Nancy Creek Capital investment fund is a provider of subordinated debt and equity for small to middle market companies and real estate projects primarily in the Southeast region. The Fund is managed by The Branch-Shelton Company, LLC. For more information, visit www.nancycreekcapital.com.
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