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Seven Mile Capital sells Waddington North America to Olympus Partners

5 Oct 2012

Mid-market US buyout house Seven Mile Capital Partners has sold disposable plastic kitchen goods-maker Waddington North America to Olympus Partners.

Seven Mile was created when most of its team span out from Citigroup in 2011, becoming the majority shareholder of WNA in the process.

Citigroup has acquired WNA alongside Norwest Equity Partners in 2007.

The company designs, manufactures and markets rigid plastic disposables including tableware, drinking vessels and cutlery products.

Seven Mile managing partner Vince Fandozzi said, “It has been pleasure working closely with Mike Evans and the rest of the management team at WNA.

“The team has done a terrific job of guiding the company through some turbulent times and has continued to demonstrate their ability to grow the company in the face of a challenging business environment.

“We are pleased that they found a new strong partner in Olympus Partners to help them continue to grow this special company.”

Barclays Capital and Citigroup Global Markets served as financial advisors to WNA, while Kirkland & Ellis acted as the company’s legal advisors.

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