VergePointe Capital makes an investment in SNAPWARE Corporation
October 2009 - VergePointe Capital, LLC is excited to announce the purchase of preferred equity ownership in SNAPWARE Corporation from a minority shareholder through VergePointe Capital Fund II, LP. Managing Directors Scott Roberts and Matthew Vance represent VergePointe Capital in this opportunity.
"We are impressed with SNAPWARE's strong management team and their current position in the market place and we look forward to working together to take advantage of the company's significant growth potential," said Scott Roberts.
"SNAPWARE has a unique opportunity to take market share in a large product category by leveraging their USA manufacturing capabilities and superior product offerings. We are excited to participate in this opportunity with the company and its management team," said Matthew Vance.
VergePointe Capital Fund II, LP was formed by VergePointe Capital and several successful entrepreneurs and high net worth individuals to purchase the preferred equity ownership. "These types of transactions help to satisfy the entrepreneurial spirit and talents of our clients, and provide an opportunity to potentially grow their capital," added Mr. Vance.
About SNAPWARE Corporation
SNAPWARE Corporation is a leading manufacturer of home storage solutions in the United States. It offers airtight canisters, all purpose food storage containers, gift containers, home storage system, seasonal storage boxes, and multipurpose storage system for arts and crafts, toys and games, school and office supplies, and hardware and garage supplies.
About VergePointe Capital, LLC
VergePointe Capital, LLC is in business to co-invest in established private companies alongside middle market private equity firms, institutional investors, successful entrepreneurs and their management teams. VergePointe Capital's efforts focus primarily on buyouts, recapitalizations and growth equity transactions. The Managing Directors of VergePointe Capital include Brad Parrott, Craig Olson, Scott Roberts and Matthew Vance. Certain Members of VergePointe Capital offer investment advisory services through VergePointe Wealth Management, LLC (an SEC registered investment advisor).