News
NewSpring Mezzanine Capital, L.P. Announces Its Investment, a $3.5 Million
Mezzanine Financing, in Alfred Angelo, Inc.
September 22, 2006 – NewSpring Mezzanine Capital, L.P. today announced the investment of $3.5 million in Alfred Angelo, Inc. (www.alfredangelo.com). NewSpring Mezzanine Capital led this $5.0 million round with a co-investment by Pine Street Capital.
Vincent Piccione, Chief Executive Officer of Alfred Angelo, stated, “We really enjoyed working with the NewSpring team, and we look forward to the value they bring in helping to shape the future of Alfred Angelo.”
Steven Hobman, General Partner at NewSpring Mezzanine Capital, stated, “We are very excited about the addition of Alfred Angelo to our growing portfolio. This is a company with a strong reputation within its industry and with a strong value proposition for its customers. We have a high degree of confidence in the management team and their ability to execute the Company’s current expansion plans. We look forward to working with the Alfred Angelo team as they continue to grow their business in the coming years.”
About Alfred Angelo, Inc
Alfred Angelo Inc., based in Fort Washington, PA and Delray Beach, FL, is a 75-year-old leading designer, manufacturer, wholesaler, and retailer of bridal gowns, bridesmaids dresses, and special occasion dresses. The Company also wholesales and distributes assorted styles of affordable women’s dresses to various mid-priced and value-priced department stores and other retailers. The Company’s bridal apparel, which is primarily manufactured in three Company-owned facilities in China, is sold through 35 Company-owned retail stores as well as approximately 2,000 independent bridal retailers throughout the U.S., Canada, and Europe.
About NewSpring Mezzanine Capital, L.P.
NewSpring Mezzanine Capital (www.newspringcapital.com) is a regionally-focused mezzanine debt fund that invests in information technology, business services, healthcare and specialty manufacturing and is part of the NewSpring Capital family of funds. NewSpring Capital, based in King of Prussia, PA, is a family of specific purpose private equity funds which, in addition to NewSpring Mezzanine Capital, includes NewSpring Ventures, L.P., a venture capital fund providing equity capital to growth and expansion stage companies with a focus on information technology, business services and enabling technologies and NewSpring Healthcare, L.P., a venture capital fund focused on intermediate-and late-stage life sciences, medical devices and healthcare companies.
