River Associates Buys Rose City Printing & Packaging
Thursday, December 13, 2012
Press release from the issuing company
River Associates Investments has acquired a controlling stake in Rose City Printing & Packaging via a recap. Rose City’s management increased their ownership in the company. Financial terms were not announced. Vancouver, Wash.-based Rose City is a folding carton manufacturer. D.A. Davidson & Co. served as financial advisor to Rose City.
Rose City Printing & Packaging (“Rose City”) announced today that it has completed a recapitalization with River Associates Investments, LLC (“River”). River partnered with the management team and former owner of Rose City on the transaction, and will own a controlling interest in the recapitalized Company. Rose City’s management team significantly increased its ownership of the Company through the transaction, which closed on December 11, 2012. Financial information was not released.
The transaction provides Rose City with access to significant capital resources to support management’s plans for the Company’s continued growth through increased market share and new product offerings, which may include acquisitions that build upon the Company’s strengths.
Rose City’s President Steve Lobis believes the strong financial backing combined with Rose City’s excellent service and manufacturing capabilities provide a great opportunity for customers. “I am excited we can now look to continue to aggressively grow in our market and other markets by providing superior service with state of the art manufacturing techniques and facilities. We believe that our model can be expanded to deliver superior value to our present and future customers.”
D.A. Davidson & Co. served as the sole financial advisor on the transaction.
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