Pine Street Capital Partners ("PSCP") is pleased to announce an active and successful 2016. Highlights include:
Held a first closing on Pine Street Capital Partners III, LP in conjunction with the receipt of our second Small Business Investment Company (SBIC) license from the US Small Business Administration in September.
- Successfully exited four investments from PSCP II, as highlighted below:
- In December, PSCP exited from its investment in Scotia Technology, a Laconia, NH, based niche supplier of tube assembly components for the aircraft and aerospace industries.
- In December, PSCP exited from its investment in Merrill Industries, a packaging company providing corrugated packaging solutions to industrial customers located primarily in Southern New England. Merrill is located in Ellington, CT.
- In October, PSCP exited from its investment in Thermacore, a designer and manufacturer of highly engineered thermal management and material solutions. Thermacore is based in Lancaster, PA.
- In June, PSCP exited from its investment in GenServe, a supplier and servicer of backup power solutions based in Plainview, NY.
We have a strong pipeline of opportunities heading into 2017 and are actively seeking new investments for PSCP III which meet our criteria. We are committed to responding quickly to opportunities in a thoughtful and transparent manner.
About Pine Street Capital Partners
Pine Street Capital Partners is a multi-fund management company formed in 2005. PSCP's latest fund, Pine Street Capital Partners III, LP, continues our strategy of investing subordinated debt and non-control equity in smaller established companies with experienced and committed management teams, providing capital for buyouts, recapitalizations, acquisitions and corporate growth. PSCP has a broad investment mandate, with a preference for niche manufacturers, business services, health care and later stage IT companies. We will invest $3-10 million per transaction either as sole investor or as part of a larger investor group.