Seacoast Capital Makes Non-Control Growth Capital Investment in Pluto Corporation

BOSTON–(BUSINESS WIRE)–Seacoast Capital, a lower middle market non-control growth capital
investor, announced today its $5.0 million subordinated debt investment
in Pluto Corporation (“Pluto”). This transaction was Seacoast’s sixth
2017 non-controlling platform investment.

Founded in 1913, and headquartered in French Lick, Indiana, Pluto
provides comprehensive and custom packaging, blow molding, and assembly
services for the global leading providers of liquid home cleaning
products.

Seacoast’s investment in Pluto was in support of the acquisition of the
company by Louisville, Kentucky-based Derby Supply Chain Solutions.
Derby Supply Chain Solutions, a portfolio company of New York-based Hyde
Park Holdings, is a provider of business outsourcing services to Fortune
500 companies. Hyde Park Holdings is the New York-based family office of
the Laurence Levy family.

“With our investment in Pluto, Seacoast was able to partner with a niche
packaging leader with a long and impressive history of demonstrated
success,” said Tom
Gorman, a Partner with Seacoast Capital.

“The operational flexibility provided by its “Total-in-Plant”
capabilities allows for Pluto to deliver on highly complex packaging
projects typically not seen in the lower middle market. We are very
excited about our relationship with Pluto,” continued Alan
Rich, a Vice President at Seacoast.

“In Seacoast, we were able to find an investor that would not only
provide us with the growth capital we needed to meet our strategic plan,
but would also allow us to retain control of the business; had previous
packaging industry expertise; and showed the ability to understand the
nuances of the CPG space, our largest customer group,” said Hyde Park
CEO Laurence Levy.

About Seacoast Capital

Founded in 1994, with offices in Boston, MA and San Francisco, CA,
Seacoast Capital invests non-controlling growth capital in partnership
with management in lower middle market companies. Seacoast is industry
agnostic and typically invests $5 million to $25 million of capital in
companies with $10 million or more in revenue and $2 million or more of
EBITDA. Capital is used to support growth, refinancings, acquisitions,
family wealth/ownership transfers, shareholder liquidity events, or
management buyouts. Geographically, Seacoast invests anywhere in the
United States. Since its inception, Seacoast has managed over $600
million of capital, which the firm has invested in 71 non-controlling
transactions. Now investing its fourth fund, Seacoast Capital Partners
IV, L.P., the firm continues to actively seek new investment
opportunities. Learn more by visiting www.seacoastcapital.com.

Contacts

Seacoast Capital
Phil
Curatilo, 978-750-1319
Principal & CMO
[email protected]