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Milestone Partners Refinances Good Health Natural Products Saint Davids, PA, November 6, 2009 3 Milestone Partners is pleased to announce that it recently completed a refinancing of Good Health Natural Products with Salem Halifax Capital Partners and the Morgan Keegan Strategic Fund. Milestone acquired a controlling interest in Good Health Natural Products in 2004 and was approaching the maturity date for its acquisition debt. Fortunately, during its holding period the Company continued to diversify its product portfolio and distribution channels and is well-positioned to capitalize on the current industry dynamics.
The refinancing was supported by strong performance and growth in Good Health 9s branded product lines, particularly its Veggie Stix®, Avocado Oil Potato Chips®, HUMBLES® (hummus) chips and South of France® soaps. cGiven the current state of the economy and credit markets we are very proud to have been able to repay all of Good Health 9s initial lenders in full and to have found high quality partners to replace them, d said Adam Curtin of Milestone Partners. cWe are thrilled to have Salem Halifax and Morgan Keegan as our new lending partners.
Their long term capital strengthens our balance sheet and helps reposition the Company for its next phase of growth, ... more.
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d commented Mark Gillis, CEO of Good Health. For more information about the transaction, contact Bob Levine , Adam Curtin or Craig Warznak at Milestone Partners. Good Health Natural Products ( www.goodhealthnaturalfoods.com ) is a leading producer of branded natural and organic consumer products with a focus on reduced-fat salty snack foods.<br><br> Good Health 9s products include Olive Oil Potato Chips®, Veggie Stix® and Avocado Oil Potato Chips®. In addition to natural and organic foods, Good Health produces the South of France® line of specialty hand and body soaps and lotions. The Company is based in Greensboro, North Carolina and distributes its products nationally through natural food distributors, grocery stores, mass market retailers and other specialty food channels.<br><br> Milestone Partners ( www.milestonepartners.com ) is a private equity firm that partners with management to invest in leveraged buyouts and recapitalizations of lower middle market businesses. Milestone pursues successful niche-market leaders that provide high-margin products or services. Milestone 9s transactions typically provide liquidity to shareholders of privately-owned businesses, facilitate the transition of ownership to key managers, and allow management to capitalize on growth opportunities, while maintaining the legacy of the founders.<br><br> Milestone is currently making follow-on and add-on investments through Milestone Partners II, L.P., a $120 million fund, and is making new platform investments through Milestone Partners III, L.P., a $240 million fund. Milestone Representative Investments: Avure Technologies (high pressure presses) Good Health Natural Products (natural foods & body care products) Black Letter Discovery (litigation support services) Interconnect Devices (electronic contact probes & connectors) Blaschak Coal Corp. (anthracite mining and processing) Knights Apparel (licensed sports apparel) CODi (corporate laptop cases & accessories) Outlook Group (printing, packaging & direct mail) Dydacomp (e-commerce & catalog software) Safemark Systems (in-room hotel safes) Eliason (commercial double-action impact doors) Trans-Trade (non-asset based logistics) Fatz Cafe (casual dining restaurant chain) United Road Towing (towing services) Global Connection (pre-paid wireline phone service) Higher Power Nutrition (exited 12/07) (nutritional supplements e-tailer) Milestone General Investment Criteria: Milestone Contacts: Company Size*: Revenue: $15-$150 million EBITDA: $3-$15 million Transaction Size*: $15-$100 million Equity Investment Size*: $5-$25 million (& higher, with typical co-invest) Industry Focus: Generalist; high-margin, niche-market manufacturers, value-added distributors and service companies Geography: United States and Canada *Add-on parameters may be smaller Brooke B.<br><br> Hayes , Partner 610-526-2703 · bhayes@milestonepartners.com Robert G. Levine , Partner 610-526-2709 · blevine@milestonepartners.com John P. Shoemaker , Partner 610-526-2708 · jshoemaker@milestonepartners.com W.<br><br> Scott Warren , Partner 610-526-2702 · swarren@milestonepartners.com Adam H. Curtin , Vice President 610-526-2711 · acurtin@milestonepartners.com John J. Nowaczyk , Vice President 610-526-2712 · jnowaczyk@milestonepartners.com Geoffrey B.<br><br> Veale , Vice President 610-526-2706 · gveale@milestonepartners.com Daniel F. Ryan , Director of Business Development 610-526-2713 · dryan@milestonepartners.com Peter Batushansky , Associate 610-526-2705 · pbatushansky@milestonepartners.com Craig D. Warznak , Associate 610-230-0577 · cwarznak@milestonepartners.com Kelly B.<br><br> Widman , Associate 610-526-2707 · kwidman@milestonepartners.com 595 East Lancaster Avenue · Suite 303 · St. Davids, PA 19087 (610) 526-2700 · FAX (610) 526-2701 www.milestonepartners.com If you have any difficulty seeing this email properly, please click here to access this press release online in pdf format. .<br><br>