Follow-on Investment to Support Century Mold Co., Inc.'s Acquisition Announced
PITTSBURGH, PA - November 30, 2006
PNC Mezzanine Capital today announced a follow-on investment to support Century Mold Co., Inc.'s acquisition of certain assets of CEP Products, Inc. in Chihuahua, Mexico, and the establishment of Century Mold Mexico, Inc., a wholly owned subsidiary of Century Mold Co., Inc., which will manufacture injection molded components, including radiator end tanks and wire channels, for existing Century Mold customers and other manufacturers located in Northern and Central Mexico. PNC Mezzanine Capital partnered with the current management team to structure and finance the add-on acquisition, which supported the Company's geographic expansion plan. Century Mold now has five strategically located manufacturing facilities throughout the world, including the United States, Mexico and China, to support its customers.
About PNC Mezzanine Capital
PNC Mezzanine Capital is focused on financing buyouts, recapitalizations and consolidation strategies in companies in a wide range of industries, including business services, niche manufacturing and value-added distribution. Since 1989, PNC Mezzanine Capital has been a stable, thoughtful mezzanine partner for sponsor groups, entrepreneurs and management teams. Our approach has been to underwrite the long-term business strategy of our portfolio companies allowing us to respond constructively to the opportunities and challenges of the changing business environment. As a result, PNC Mezzanine Capital has made 91 investments in 55 companies, in support of 140 transactions. We seek to invest $10 million to $45 million in subordinated debt and equity in companies with strong management teams, proven business models and stable cash flows with a clear avenue for growth, and can lead transactions of up to $60 million.
About Century Mold Co., Inc.
Headquartered in Rochester, NY, Century Mold is a leading designer and manufacturer of high quality, precision molded thermo-plastic components. The Company supplies its products primarily to Tier 1 automotive/truck suppliers for use in under-the-hood car and truck applications. Century Mold offers an integrated solution, including design, engineering and production of precision molds; high quality injection and insert molding of close tolerance plastic components; and assembly and finishing operations. The Company's parts are on over 70% of all cars and light duty trucks manufactured in North America.
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Contact Media Relations:
Douglas P. Brosius
PNC Mezzanine Capital