|
Los Angeles, CA – March 30, 2007 – Bison
Capital Equity Partners II, LP announced its $45 million
investment in Royal Wolf Australia, the largest provider
of portable containers in Australia. The company sells
and leases container units for storage, freight, and portable
building applications. The investment included a $15
million co-investment from limited partners of Bison Capital.
Through its investment, Bison purchased a majority
of the outstanding equity of Royal Wolf Australia. Simultaneously,
Bison entered into an agreement with General Finance Corporation
(AMEX:GFN) to sell a portion of Bison’s ownership in
Royal Wolf Australia. After the sale transaction, Bison
will remain an equity investor in Royal Wolf Australia and
will also make a subordinated note investment in the recapitalized
entity.
Royal Wolf Australia is headquartered in Sydney,
Australia and has regional offices throughout Australia. The
company was originally founded in 1995 as an Australian subsidiary
of Triton Holdings, the world’s largest lessor of marine
cargo containers. In 2003, managers of Royal Wolf Australia
executed a management buyout transaction.
General Finance Corporation completed its initial
public offering in April 2006. The company was founded
by Ron Valenta, its Chairman and CEO. Mr. Valenta is
the former Founder, Chairman and CEO of Mobile Storage Inc.,
a leading provider of container storage units in the United
States.
“We are extremely impressed with the
management team and organizational infrastructure at Royal
Wolf Australia,” said Doug Trussler, a partner at Bison
Capital. “The company has done an outstanding
job capitalizing on growth opportunities to achieve its market
leading position. We’re eager to partner with
management and help the company realize its long-term strategic
objectives.”
Bison Capital makes growth equity investments
in middle-market companies, public or private, for expansion,
acquisitions or balance sheet restructuring. The firm’s
primary investment focus is partnering with entrepreneurs
and management teams seeking capital to grow their businesses. |
