July 29, 2009
MSouth Announces the Acquistion of Coastal Sunbelt Holding, Inc.
Atlanta, GA (July 29, 2009) – MSouth Equity Partners, an Atlanta-based private equity firm, announced the signing of a definitive merger agreement for its newest investment. In partnership with company management, MSouth has agreed to acquire Coastal Sunbelt Holding, Inc. The transaction is expected to be consummated on August 13, 2009.
Coastal Sunbelt, Inc. (www.coastalsunbelt.com), headquartered in Savage, MD (suburban Washington, D.C.), is the leading distributor of fresh produce in the Mid-Atlantic region. Founded in 1992, Coastal Sunbelt distributes wholesale and fresh-cut produce to restaurants, institutions and grocery stores with routes from Northern New Jersey to North Carolina.
Mike Long, an MSouth Partner, said, “We are very excited to acquire Coastal Sunbelt, in conjunction with management, as it is the leading produce distributor in a very stable region of the United States. The talented management group has done an excellent job building a strong platform for future growth, and we believe our successful track record with distribution companies will enable us to effectively assist them with expanding their leading position in the marketplace.”
MSouth Equity Partners is a private equity investment firm that provides equity capital and expertise to support management teams in acquisitions and recapitalizations of lower middle market companies typically valued $25 – $125 million. Based in Atlanta, Georgia, MSouth invests primarily in the South with a consistent focus on management buyouts of business services, distribution and specialty manufacturing companies. MSouth is a successor to Cravey, Green & Wahlen, Inc. which was founded in 1984. Total capital under management exceeds $1.0 billion.