NEWS & PRESS
WEBSTER CAPITAL ANNOUNCES THE SALE OF MOORECO INTERNATIONAL HOLDINGS, INC.
Waltham, MA (April 6, 2017) – Webster Capital is pleased to announce the sale of MooreCo International Holdings, Inc. (MooreCo) to Greg Moore, who has been the CEO of the Company for the last ten years. Mr. Moore has partnered with Prudential Capital Partners, the middle-market mezzanine and structured equity fund business managed by Prudential Capital Group, to finance the transaction. MooreCo, based in Temple, Texas, is a leader in the educational and commercial markets for visual communication products, technology support equipment and office furniture.
"It has been a pleasure working with the professionals at MooreCo and we are proud of the work they have done to build the Company," said Donald Steiner, Managing Partner at Webster.
Greg Moore, CEO of MooreCo said, "I am extremely pleased with what the management team has accomplished under Webster’s ownership and we are excited to continue to grow the business."
About Webster Capital
Founded in 2003, Webster Capital is a private equity partnership which helps companies unlock their potential. Webster focuses on branded consumer and healthcare services companies with EBITDA between $3 million to $15 million. Webster Capital provides equity financing, expertise, and a broad contact network for management buyouts and growth capital. At present, Webster has $600 million under management and is currently investing Fund III, a $400 million fund raised in 2014. For additional information on Webster Capital, please visit www.webstercapital.com.
MooreCo is an innovative designer and manufacturer of visual-communication products, technology support equipment, and furniture for the educational and commercial office markets. The Company markets its products through three brand divisions: Best-Rite, Balt and MooreCo. For additional information on MooreCo, please visit https://moorecoinc.com.
About Prudential Capital Group
Prudential Capital Group has been a leading provider of private debt, mezzanine and equity securities to companies worldwide for more than 75 years. Managing a portfolio of nearly $77 billion as of December 31, 2016, Prudential Capital offers senior debt and mezzanine capital, leveraged leases, credit tenant leases, and equipment finance to companies, worldwide. The global regional office network has locations in Atlanta, Chicago, Dallas, Frankfurt, London, Los Angeles, Milan, Minneapolis, Newark, N.J., New York, Paris, San Francisco and Sydney*. For more information, please visit www.prudentialcapitalgroup.com.
*Operates through PGIM (Australia) Pty Ltd.