LYCOS RETRIEVER 
Aurora: Aurora Capital
built 270 days ago
John Mapes, Managing Director of Aurora, said, "NuCO2 is an excellent fit with Aurora's investment criteria. NuCO2 has demonstrated excellent margins, sustained high market share and generates an attractive return on invested capital."
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Wilson and Aurora co-founders Scott Albert and Jeff Clark, both experienced and respected venture capitalists, have invested together since 1998 and have worked together closely during that period. In fact, Aurora is an investor in four of Trelys' eight portfolio investments, and the principals have served together on multiple boards of directors.
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"We believe this transaction provides excellent value to our shareholders and represents an exciting opportunity to continue the growth and development of the company in partnership with Aurora Capital Group," said Michael E. DeDomenico, Chairman and Chief Executive Officer of NuCO2. "Teaming up with Aurora brings to the company a partner who enthusiastically shares our goals of growth, outstanding customer service and operational excellence. Our commitment to these standards of performance, including the dedication and commitment of our associates across the country who consistently deliver outstanding service to our customers, will certainly benefit our company, customers and associates as we further execute our growth and operational strategies with the support and important resources provided by this merger with Aurora."
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The financing package includes $25 million from entities affiliated with Aurora's major investors, Fenway Partners, Inc. and McCown De Leeuw & Co. (the "Investors"), in the form of unsecured, senior promissory notes (the "Notes"). The Investors will ... receive warrants from Aurora to purchase 2,100,000 shares of Common Stock of the Company (the "Warrant Shares"). The remaining $37.6 million of the financing will come from new term loans under an amendment to Aurora's existing credit facility with various lenders (the "Bank Financing"). The credit facility amendment also contains adjustments to certain financial and other covenants. Aurora plans to use the new capital to reduce debt and for working capital purposes.
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CLEVELAND, Sept. 21 /PRNewswire/ -- Resilience Capital Partners (http://www.resiliencecapital.com), a Cleveland-based private equity firm, today signed a definitive purchase agreement to acquire substantially all the assets of Omega Polymer Technologies Inc. headquartered in Aurora, Ohio subject to court approval. Omega listed 225 employees when it filed for bankruptcy court protection citing recent raw material price increases and high operating costs. "There is no question in our minds that with our significant equity investment and proper execution Omega can stem its losses, quickly be stabilized and eventually turned around. In most businesses today you are competing with the world and there are some tough competitors out there. It is clear that in the coming years many companies will find themselves in a similar situation as Omega of having to manage aggressively and find new investment capital in order to survive" said Steven Rosen, a Managing Partner of Resilience Capital. Omega has been in a turnaround situation for the several months leading up to its bankruptcy filing.
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Synchris ... announced that it has completed a $4.5 million round of venture capital financing from its strong partners: Novak Biddle, Aurora, and Inflection Point. "This funding completes the preparation phase of the Synchris launch including an expanded product footprint, extended customer support, increased sales and engineering teams, and a new corporate image," said William L. Schrader, president and CEO. "Our target market remains government contractors with revenue from $5 million to $50 billion."
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