October 14, 2016
Lipari Foods Completes $260 Million Debt Financing
October 14, 2016 — Sterling Investment Partners ("Sterling") is pleased to announce that its portfolio company Lipari Foods ("Lipari" or the “Company”) has completed a $260 million debt financing. Proceeds from the transaction were used to (i) fund a distribution to the Company's unitholders and (ii) pay related fees and expenses. As part of the transaction, the Company secured debt commitments to fund future add-on acquisitions. The senior debt financing was led by Antares Capital, LP. Northwestern Mutual Capital, LLC. completed the junior debt financing.
Lipari Foods is one of the largest specialty food products distributors in the Midwest. Lipari Foods offers its diverse base of customers, which are primarily independent and specialty grocery chains, access to approximately 18,000 national, regional and proprietary stock keeping units across a broad range of “perimeter-of-the-store” food product categories, including, among others, deli, bakery, dairy, confections, specialty, natural, organic and frozen. www.liparifoods.com
About Sterling Investment Partners
Sterling Investment Partners is a private equity firm with a highly experienced, cohesive team of senior investment professionals. Sterling acquires businesses that the firm believes have strong, sustainable competitive advantages and significant opportunities for value creation. Sterling has over $1.5 billion in initial fund commitments. Over its history, Sterling has completed platform investments, strategic or add-on acquisitions, recapitalizations and liquidity events with an aggregate transaction value of over $12.3 billion, representing more than 100 transactions. Key industries Sterling focuses on include business services, industrial and consumer value-added distribution, niche manufacturing, and transportation and logistics. www.sterlinglp.com