invests private equity capital in compelling buyouts, recapitalizations and growth capital opportunities alongside superior management teams.
looks forward to continuing to support MC's management in the execution of its long-term growth plan.
Arlander, a founding partner of BSMB
, will not continue with BSMB
following the spin-out.
BSMB intends to change its name and will move its operations from its current location to new offices in New York City.
The Partners of BSMB have a long and successful history in the private equity industry dating back to the 1980s and are known for seeing value where others do not and for helping to build and grow industry-leading companies.
Innovative is a great fit with Multi Packaging Solutions" said Phil Carpenter, Senior Managing Director of BSMB.
Founded by Marc Shore with the financial backing of BSMB, MPS has a seasoned management, sales, and design team with vast experience in print and packaging.
We are excited about this investment in the LPG shipping industry," said Doug Korn, senior managing director and partner of BSMB.
The welcome entry of BSMB is well timed to provide the additional equity, financial skills and guidance to allow the next stage of the business plan to be implemented while allowing current shareholders a favorable exit.
MC Shipping is well positioned to capitalize on the future growth opportunities within the LPG shipping industry," said Ted Young, managing director and partner of BSMB.
In addition, BSMB
and NGP both have established track records for working closely with management teams to help develop and grow companies, and we look forward to working with them.
and Bear Stearns Merchant Banking ("BSMB
") announced the signing of a merger agreement providing for the Company to be acquired by a newly-formed entity controlled by BSMB
, as detailed in the Company's Form 8-K filed on July 31, 2007.