Matrix Serves as Exclusive Advisor to Southern Filter Media, LLC on its Sale to Vance Street Capital, LLC
RICHMOND, VA – December 22, 2014 – Matrix Capital Markets Group, Inc. (“Matrix”) is pleased to announce the sale of Southern Filter Media, LLC (“Southern Filter”) to Vance Street Capital, LLC (“Vance Street”), a Los Angeles-based private equity firm. Southern Filter, based in Hixson, TN and a portfolio company of Gen Cap America, Inc. (“Gen Cap”), is a leading manufacturer and distributor of wet and dry environmental filtration products for application in various industries.
Matrix served as exclusive financial advisor to Southern Filter. The transaction was led by Mike Morrison, David Shoulders, William O’Flaherty and Pratik Thakral. Mike Morrison, President of Matrix, commented, “This transaction represents a successful outcome for all parties and we are pleased to have had the opportunity to advise Gen Cap and the selling managers. We look forward to seeing the impressive growth that Southern Filter is poised to realize in the coming years.”
Charlie Poe, President of Southern Filter said, “We look forward to partnering with Vance Street and pursuing several exciting strategic initiatives. We also appreciate the tremendous efforts of Matrix throughout the transaction. The depth of their team and the attention our transaction received was beyond our expectations.” Don Napier, Executive Vice President at Gen Cap added, “We are thrilled by the outcome of this transaction. Southern Filter has been an excellent fit with Gen Cap and we wish the company continued success.” Phil Gamble at Gen Cap also added, “We enjoyed working with the Matrix team and appreciate their assistance during this successful sale process.”
“Southern Filter has grown to become a reputable player in the dry filtration sector and is led by a strong and committed management team. This transaction is consistent with Vance Street’s strategy and we are excited for the opportunities this investment presents,” said Jake Blumenthal, Partner at Vance Street.
The acquisition was funded with debt from FS Investment Corporation, which is sub-advised by an affiliate of GSO Capital Partners LP. Bass, Berry & Sims PLC acted as legal advisor to Southern Filter and Gen Cap in the transaction. Vance Street was represented by Paul Hastings LLP.