CHICAGO –July 14, 2008 – 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.