Bain Capital to acquire Walco International.BOSTON--(BUSINESS WIRE)--March 10, 1997-- Bain Capital Bain Capital LLC is a Boston, Massachusetts-based private equity firm founded in 1984 by Mitt Romney, the former Governor of Massachusetts, and two other partners from the consulting firm Bain & Company: T. Coleman Andrews III and Eric Kriss. , Inc. announced today that it has agreed to acquire a majority interest in Walco International, Inc., the leading distributor of health products for food animals in the U.S. Certain members of Walco's management and of the Wall family will retain an equity interest in the Company and will continue to manage the business. The transaction is valued at approximately $100 million. Walco distributes and markets approximately 12,000 animal health- care products to over 40,000 customers in the U.S. and Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of . Headquartered in Porterville, California Porterville is a city in Tulare County, California, United States. The population was 51,467 at the 2007 census. The city's population grew dramatically as the city annexed many properties and unincorporated areas in and around Porterville. , Walco was founded in 1954 by F. Willard Wall, who died last September September: see month. . The firm currently has revenues of $320 million and more than 700 employees who, together with the Wall family, owned the majority of its 3.1 million shares. Steve Swindler SWINDLER, criminal law. A cheat; one guilty of defrauding divers persons. 1 Term Rep. 748; 2 H. Blackst. 531; Stark. on Sland. 135. 2. Swindling is usually applied to a transaction, where the guilty party procures the delivery to him, under a pretended , Walco's President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. said, "Bain Capital is the ideal strategic partner for making the transition from a family-owned and run business to a leading-edge distributor of food-animal health products. Bain brings growth capital, extensive distribution experience, and a strong appreciation for our Company's unique culture." "Walco became the leader in its industry by working in partnership with suppliers and maintaining a single-minded focus on providing excellent customer service," according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Bob Gay, a Managing Director at Bain Capital. "We are excited about working with the Walco management team -- one of the most experienced in the industry -- to continue to expand the Company's market presence," added Geoffrey Rehnert, also a Managing Director at Bain Capital. Bain Capital, Inc. is a Boston-based private equity investment firm founded in 1984, which focuses on value-oriented investments in the distribution, manufacturing, consumer products, retail and business services arenas. The firm manages over $1.4 billion in capital and has made investments in over 80 companies with combined sales in excess of $10 billion. CONTACT: Steve Swindler Walco International, Inc. (209) 781-3510 or Richard Nicolazzo (Bain) Nicolazzo & Associates (617) 951-0000 |
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