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December 31, 1999 - The Courtney Group, Incorporated announced the closing of the sale of Rite Industries, Incorporated to Dimeling, Schreiber & Park for $19.0 million. The transaction was structured as a sale of assets. The Courtney Group acted as financial advisor to Rite in the marketing, valuation, structuring and negotiation of the transaction.
Rite is a leading value-added processor and distributor of dyes and specialty chemicals to textile, paper, floor coverings and other specialty industries in North America. Rite has plants in High Point, NC, Clifton, NJ and Dalton, GA. In 1998 Rite had revenues of approximately $87 million.
Dimeling, Schreiber & Park is a private investment partnership based in Philadelphia, PA. The firm specializes in opportunistic investments primarily in the form of leveraged acquisitions, recapitalizations, and Chapter 11 reorganizations. Dimeling, Schreiber & Park has completed acquisitions totaling in excess of $1 billion since its founding in 1982.
About The Courtney Group
The Courtney Group, is an investment banking firm which specializes in advising clients on mergers & acquisitions as well as raising capital for buyouts, acquisitions, recapitalizations and growth. The Courtney Group's targeted industry areas are: (1) chemical, (2) healthcare, (3) technology and (4) investment management. The firm typically works with companies that have revenues between $5 million to $500 million. For further information on the firm please visit
www.thecourtneygroup.com.
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