Triangle Capital invests $14m in Carolina Beer and Beverage
Triangle Capital Corporation, a specialty finance company that serves lower middle market companies in the US, has made an investment of $14m, which includes subordinated debt and equity, in Carolina Beer & Beverage (CBB).
The objective of this investment by Triangle Capital is to look for attractive returns by generating current income from debt investments and capital appreciation from equity related investments.
The investment philosophy of the finance company is to associate with business owners, management teams and financial sponsors to provide flexible financing solutions to fund growth, changes of control, or other corporate events.
CBB produces and co-packs beverages, and also has fee-based warehousing, logistics and distribution services. The beverage company serves certain national and international beverage companies as a co-packer, making flavored malt beverages, organic and natural beverages, and energy drinks.
Triangle Capital president and CEO Garland Tucker III said that CBB's facilities have been designed with the flexibility necessary to service the complex requirements of the beverage industry with 'one-stop' service.
“These production and distribution capabilities, coupled with a seasoned management team, make CBB a very attractive addition to our investment portfolio, Tucker said.
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