SUPERIOR CAPITAL PARTNERS AWARDED M&A ADVISOR’S DIVESTITURE DEAL OF THE YEAR; ALSO ANNOUNCES PROMOTIONS OF PROFESSIONALS
Detroit, MI, February 5, 2015 — Superior Capital Partners LLC, a Detroit-based private equity firm, is pleased to announce that on Monday, February 23, 2015, the M&A Advisor will award the firm with the Divestiture Deal of the Year for the Restructuring and Sale of Edge Adhesives. Edge Adhesives (“Edge”) was sold in the first quarter of 2014 to a buyer group led by Gladstone Investment Corporation and Akoya Capital Partners.
Mark Carroll, Superior’s Managing Partner, said, “We are honored to receive this award and are very pleased with the results of our Edge investment. Superior’s partnership with Dave Burger led to a remarkable turnaround of the business in which we more than tripled revenue and proceeded to an exit in less than four years. The sale of the business marked the first full exit from Superior’s inaugural fund and demonstrates the types of returns that can be achieved with our lower middle market special situation investment strategy.”
Mr. Carroll added, “The Edge exit in early 2014 marked the beginning of an outstanding year for the Fund. During the year, we completed four significant add-on investments and have a fifth that we expect to close in the first quarter of 2015. In recognition of the total team effort that has been put forth in this success, we are pleased to announce the promotion of Andrew Wiegand to Managing Director and Daniel Wingard to Vice President.”
Mr. Wiegand joined Superior Capital Partners in 2007 and has played a significant role in Superior’s investment activities. Mr. Wiegand serves on the Boards of Dianne’s Fine Desserts and Rostra Precision Controls. Previously, Mr. Wiegand served on the Board of Edge Adhesives.
Mr. Wingard joined Superior Capital Partners in 2009. He serves on the Boards of Nelson-Miller and Aldora Aluminum and Glass.
About Superior Capital:
Superior Capital, headquartered in Detroit, Michigan, is a private equity firm focused on making control investments in middle market special situations opportunities. The Fund’s investments include acquisitions of under-performing or capital constrained companies, restructurings, companies requiring new leadership, corporate carve-outs, bankruptcies and bank debt purchases.
As a special situations fund, Superior combines capital, transaction experience and operational improvement expertise with proven management teams who have the vision, capability and commitment to successfully improve and grow their businesses. Superior seeks to acquire or recapitalize niche manufacturers, value-added distributors and specialty service companies. Generally, these companies will have annual revenue of $10 to $150 million, identifiable growth opportunities and the need for capital and resources to implement a growth and recovery plan.
Superior’s Fund I has completed 19 total investments which have formed six platform companies in the following industries: architectural glass, gourmet desserts, electronic user interface modules, specialty chemicals, custom publishing for higher education and electrical components for the automotive aftermarket.
