Investment Summary

Exits WCB Ice Cream

On May 1, 2005, invested in machinery company WCB Ice Cream from Convergent Capital

Investment Highlights
  • This is transaction in the Machinery sector.
  • This is transaction in the United States.
  • This is transaction in New Jersey.
Investment Fate
  • WCB Ice Cream was sold to a strategic buyer in 2014.

Investment Summary
Date 2005-05-01
Target WCB Ice Cream
Sector Machinery
Sellers(s) Convergent Capital
Deal Type Sold to Management

Target

WCB Ice Cream

Northvale, New Jersey, United States
website
WCB Ice Cream is a designers, assemblers and suppliers of ice cream processing and packaging equipment world-wide.

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Seller(S) 1

SELLER

Convergent Capital

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 1998
PE ASSETS 225M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Convergent Capital is a private investment firm that provides growth and debenture financing to late-stage growth companies. Convergent prefers to commit $2 to $8 million per transaction in businesses with at least $5 million in revenues. Convergent is a generalist investor and will consider businesses in a wide range of industries. Investment funds are typically used to assist growth, but the firm can also structure investments around buyouts, recapitalizations, consolidations, and add-on acquisitions. Convergent is licensed as a SBIC. Convergent Capital was formed in 1998 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 7 of 39
Sector (Machinery) 2 of 2
Type (Sold to Management) 3 of 3
State (New Jersey) 1 of 1
Country (United States) 7 of 39
Year (2005) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-01 Advanced Machine & Stretchform International

Gardena, California, United States

AMSI manufactures rolled and stretch formed metal components such as wing panels and fuselages, sections for aircraft, fuel tanks for space booster rockets, and helicopter hub and rotor assemblies for the aircraft and aerospace industries.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-01 Hastings Manufacturing

Hastings, Michigan, United States

Hastings Manufacturing Company is a manufacturer of piston rings. Its roots go back to 1915 when it was founded in the western Michigan town of Hastings.

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