CHICAGO, July 14, 2008 (PRIME NEWSWIRE) -- WHI Capital Partners (WHICP) is pleased to announce the sale of Container Recycling Alliance (CRA) to Strategic Materials, Inc., a portfolio company of Willis Stein and Partners. Working together with CEO Tom Riek since the acquisition in 2006, CRA created value for its investors by driving operational improvements, investing in strategic projects, and introducing new product lines to the marketplace.
Adam Schecter, Managing Partner of WHICP, states, "CRA was an outstanding investment for us. The initiatives undertaken by the management team created significant value for both CRA's customers and its shareholders. By improving operations and increasing capacity, CRA was organically able to substantially increase both its sales and profitability during our ownership period." Tom Riek comments, "The team at WHICP provided tremendous support for us in bringing their operational and transactional expertise as well as their strategic focus. They were great partners and provided the support and guidance to make this a very successful investment for everyone."
Terms of the transaction were not disclosed.
About Container Recycling Alliance
Container Recycling Alliance is a leading recycling organization for recovering glass containers from the waste stream for reuse in the manufacture of new glass products. CRA operates eight glass recycling facilities throughout the United States. With expertise in collection, processing, decasing and material use, CRA creates an efficient stream of recycled glass utilizing state-of-the-art automated ceramic detection and color sorting equipment to ensure quality and color consistency.
About WHI Capital Partners
WHI Capital Partners (www.whicapital.com) is a Chicago-based private equity firm established to invest in mid-size companies that have been consistently profitable. Whether for a long term partnership or for a complete sale of their business, business owners choose WHICP as a partner because we bring more than capital to the transaction. Our strong and enduring values, deep operational expertise, committed capital, and long term investment perspective make us a preferred partner for business owners seeking to take their business to the next level, locate an ethical capital partner, or sell the company -- leaving their legacy in good hands. Our investment philosophy is based upon a 60-year heritage of successfully growing middle market companies into larger, more profitable organizations.
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