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At a Glance
Completing a minority recapitalisation
Polar Beverages was looking for a way to transition the business from fourth to fifth generation ownership. That meant simultaneously buying out minority shareholders and refinancing some senior debt, which would require a good deal of capital.
“Mezzanine financing from Pricoa Private Capital provided capital to expand and grow the business which resulted in earnings growth and the ability of family owners to increase their equity stake.”
Ralph Crowley, Jr., President and CEO, Polar Beverages
The Full Story
Transitioning business ownership
Polar Beverages was looking for a way to transition the business from fourth to fifth generation ownership. That meant simultaneously buying out minority shareholders and refinancing some senior debt, which would require a good deal of capital. The remaining family owners were not interested in selling or giving up control of the business, which has been in the Crowley family since 1882. They turned to us for solutions to help them rebuild their capital structure, facilitate the buyout and help Polar grow under the new generation.
We worked closely with Polar’s senior family owners to complete a minority recapitalisation to help them rebuild their capital structure and facilitate the buyout. We were also awarded a board seat and observer rights. Polar repaid the mezzanine financing in full, from earnings, in less than six years, and we continue to have a strong relationship.
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Executive Managing Director
Atlanta, Chicago, Minneapolis & New York Corporate Finance
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