Chicago-based private investment firm KCM Capital Partners LLC, an investor in lower middle market business services, value-added distribution and specialty industrial businesses, announced today that it has completed the recapitalization of Atlantic Beverage Company, Inc. The transaction was completed in partnership with Company management, Detroit, MI-based private equity firm Huron Capital and Columbus, OH-based private investment firm Stonehenge Partners. Terms of the transaction were not disclosed.
Founded in 1986, Atlantic Beverage is an Edison, New Jersey-based specialty importer and distributor of more than 2,000 non-perishable food and beverage products to foodservice customers throughout the U.S. Consistent with KCM’s investment philosophy – Keeping Continuity Matters – Atlantic Beverage will continue to be led by CEO Elliot Braun and President Jeff Muhlgeier.
Jeff Muhlgeier, Founder and President of Atlantic Beverage stated, “We are delighted to partner with KCM, Huron Capital and Stonehenge Partners. They share our vision for accelerating the growth and service capabilities of Atlantic Beverage and can provide the financial, strategic and professional resources necessary for accomplishing our goals. This strategic transaction is a highly positive outcome for our shareholders, employees and customers.”
Emmett Mosley, Partner at KCM said, “We are excited to partner with Elliot and Jeff and invest in the continued growth of Atlantic Beverage. We look forward to building upon the Company’s leadership position in the foodservice distribution industry and continuing the Company’s already impressive track record of success.” Jon Gilbert, Partner at KCM also stated, “Atlantic Beverage has a differentiated value proposition, diversified customer base and growing end markets. With a reputation for quality, availability and service, the Company is well-positioned to accelerate its strategic growth plan.”
Derek Ferguson, Partner at KCM added, “Atlantic Beverage is a tremendous addition to the KCM family, and we are thrilled to welcome the Company to the firm as our first platform investment. We feel very fortunate to partner with Jeff and Elliot and are extremely appreciative of the strategic capital support provided by our investment partners, Huron Capital and Stonehenge Partners.”
Maranon Capital provided senior debt financing in support of the transaction, while Katten Muchin Rosenman LLP served as legal counsel to KCM.
About Atlantic Beverage:
Headquartered in Edison, New Jersey, Atlantic Beverage Company is a leading specialty importer and distributor of non-perishable food and beverage products to foodservice customers across the U.S. Operating for more than 30 years, the Company distributes a wide variety of national brands, Company-owned import brands and in-house packaged spices. For more information, please visit www.atlanticbeverageco.com.
About KCM Capital Partners:
KCM Capital Partners is a Chicago-based private investment firm focused on investing in lower middle market business services, value-added distribution and specialty industrial businesses throughout the U.S. Founded in 2017, KCM follows a simple philosophy – Keeping Continuity Matters – which is emblematic of our belief in the importance of a healthy culture and collaborative, trustworthy partnerships. With this strategy in mind, we look to support founders and management teams of niche market leaders with creative solutions and strategic guidance to effect transformational growth.
For more information, please visit www.kcmcap.com.
