Swift Worldwide Resources, a portfolio company of Wellspring Capital Management, has added Rodney F. Nelson as a non-executive member of its board. Nelson has served as a corporate officer and vice president at Schlumberger. Based in Houston, Swift is a provider of contract engineers and other personnel to the oil and gas sector.Continue
Wellspring Capital Management has named Greg S. Feldman, the firm’s co-founder, as executive chairman and William F. Dawson Jr. as CEO. Alexander E. Carles, Joshua C. Cascade and John E. Morningstar have been named managing partners of the firm and will serve in this role along with Carl M. Stanton.Continue
Wellspring Capital Management has made back half of its investment in API Heat Transfer in roughly [...]Continue
Wellspring Capital Management has announced a distribution to its limited partners of approximately 850,000 remaining shares of its investment in portfolio company Susser Holdings Corporation. Wellspring acquired Susser in December 2005 and took the Company public in October 2006. Corpus Christi, Texas-based Susser Holdings Corporation is a third-generation family-led convenience store business.Continue
The status of the Checkers Drive-In Restaurants’ auction has come into question. Wellspring Capital Management has decided to pull the Checkers sale and is instead pursuing a dividend recap, three sources tell peHUB. But a different person maintains that the process is alive and bidders are still conducting due diligence.Continue
North American packaging company Prolamina Corporation has appointed Gregory Tucker as chief executive officer. Prolamina is a portfolio company of New York based private equity firm Wellspring Capital Management.Continue
Susser Holdings Corporation has closed a secondary public offering by affiliates of Wellspring Capital Management of 5,000,000 shares of Susser common stock at a price of $36.00 per share. Corpus Christi, Texas-based Susser is a third-generation family led business operating approximately 545 convenience stores in Texas, New Mexico and Oklahoma under the Stripes® banner. PRESS […]Continue
Susser Holdings Corporation has priced a public secondary offering by Wellspring Capital Management of 5,000,000 shares of Susser common stock at a price of $36.00 per share. Corpus Christi, Texas-based Susser is a third-generation family led business operating approximately 545 convenience stores in Texas, New Mexico and Oklahoma under the Stripes® banner. PRESS RELEASE Susser […]Continue
Hancock Park Associates has exited its investment in Resco Products Inc., selling the company to Wellspring Capital Management. Terms of the deal were not released. Resco makes custom-designed shaped and unshaped refractory products for a broad range of industries and applications. The company is based in Pittsburgh.Continue
Is it too soon for Dave & Buster’s to go public?
Not at all. A little over a year ago, Oak Hill Capital Partners completed its $570 million buy of Dave & Buster’s, an interactive entertainment and restaurant chain, from Wellspring Capital Management. Oak Hill invested $240 million equity in the deal, sources have previously told peHUB.
Dave & Buster’s–which operates “high volume entertainment/dining complexes”–filed for an IPO that could raise as much as $150 million, according to a July 15 regulatory filing. The company didn’t disclose how many shares they would sell, their price range or on what exchange they would list. That information will come in future filings. However, Dave & Buster’s does plan to trade under the ticker “PLAY,” according to the filing.Continue
Wellspring Capital Management has paid an undisclosed amount to buy Crosman Corp. from Pamlico Capital. Terms of the deal were not released. The company said that Crosman’s management team will retain a significant ownership position in the company. Crossman is based in East Bloomfield, N.Y., and is a designer, manufacturer and marketer of airguns and airsoft guns.Continue
Fulida Group Holdings has acquired Neucel Specialty Cellulose from a consortium of investors led by Wellspring Capital Management. Financial terms of the deal were not released. Fulida is one of the world’s largest producers of rayon. Neucel produces hemlock based chemical cellulose that is used in manufacturing processes including rayon filament for garments, pharmaceuticals, consumer products, film, food thickeners and LCD screens.Continue