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                                             June 14, 2010

IT'S A DONE DEAL.
 
Amalgamated Capital Co-Leads $25 MM Senior Debt Financing for PNC Equity Partners' Acquisition of Wheaton Industries
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NEW YORK, NY, June 14, 2010 - Amalgamated Capital (AmalCap), a recently formed division of Amalgamated Bank, announced today it served as Co-Lead Arranger and Syndication Agent for a $25 million senior secured credit facility in support of the acquisition of Wheaton Industries Inc. (Wheaton) by PNC Equity Partners II, L.P. AmalCap provides cash flow-based senior debt financing to support investments made by private equity sponsors in high quality, lower middle market companies. 
 
Based in Millville, NJ, Wheaton is a leading provider of containers, laboratory ware, and instrumentation to the laboratory, life sciences, diagnostics, and reagent/chemicals packaging markets. PNC Equity Partners is a private equity firm managed by an affiliate of The PNC Financial Services Group, Inc. 

"This transaction dovetails perfectly with our business development strategy," said Timothy Clifford, Executive Vice President and Head of Amalgamated Capital. "Our goal is to work with top tier private equity sponsors like PNC Equity Partners, and our target market is high quality companies of the caliber of Wheaton that fall into the smaller middle market sector, are successful in well defined markets, and have seasoned leadership."


"AmalCap came to us highly recommended," said Michael Rost of PNC Equity Partners, "and they worked smoothly with the PNC Equity team members and Wheaton management. They were quick to learn Wheaton's business, and they proved to be flexible throughout the process."



"AmalCap helped to make the transaction happen quickly and efficiently," commented Stephen Drozdow, President and CEO of Wheaton. "Tim and his team, who have substantial experience in specialty manufacturing and value-added distribution, rapidly grasped our company's business. Most importantly, they immediately recognized Wheaton's potential and offered to make introductions to potential acquisition candidates."
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About PNC Equity Partners
PNC Equity Partners invests in companies operating in micro-marketsTM, making private equity investments of $10 million to $30 million in leveraged buyouts, recapitalizations and large minority financings of middle market companies with enterprise values between $25 million and $150 million across a variety of industry sectors. For additional information, visit www.pncequity.com.

About Wheaton Industries

Based in Millville, NJ, Wheaton is a leading value-added manufacturer and re-packager of laboratory supply and packaging products sold to customers worldwide in the life sciences, medical diagnostics and pharmaceutical manufacturing sectors. Throughout Wheaton's 120 year history, the company has provided scientists and engineers with laboratory supplies products that include molded glass bottles, glass vials, plastic containers, closures, accessories, apparatus, and instruments. For additional information, visit www.wheaton.com.
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Contact Us About Financing Your Next Investment

Timothy G. Clifford
Head of Amalgamated Capital
212-895-4486
[email protected]
     Sean McKeever
     First Vice President
     212-895-4468
     [email protected]
Mindy Naylor
Vice President
212-895-4470
[email protected]
     Sean McClenaghan
     Analyst
     212-895-4689
    [email protected]
Headquarters       
275 Seventh Ave, 14th Floor
New York, NY 10001 

 

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About
Amalgamated Capital -


Amalgamated Capital (AmalCap), launched in September, 2009, is the leveraged finance division of Amalgamated Bank; a New York City-based and privately-owned commercial bank with over $4.5 billion in assets. 

Amalcap is focused exclusively on building strong, long-term relationships with private equity sponsors by delivering timely and reliable cash flow-based senior debt financing solutions for investments in the lower middle-market.  


Company Criteria:
  • EBITDA of $3 to $15 million
  • Strong Historical Cash Flow
  • Experienced Management Team
  • Private Equity Sponsorship Required

Geography Focus:
  • United States


Investment Size:
  • Senior Debt up to $50 million
  • Commitments up to $25 million
  • Target Hold Levels up to $15 million


Financing Products:
  • Revolving Lines of Credit
  • Term Loans
  • Senior-Stretch Loans
  • One-stop Structures
  • Letters of Credit

Transaction Types:
  • Acquisitions
  • Buyouts  
  • Growth Capital
  • Recapitalizations
  • Refinancings


Industry Focus:
  • Aerospace & Defense
  • Business Services
  • Consumer Products
  • Education
  • Healthcare  
  • Niche Manufacturing
  • Software & IT Services
  • Value-Added Distribution

 STABLE. FLEXIBLE. RESPONSIVE.