WHITE CAP PRIVATE EQUITY MANAGEMENT, LLC

WHITE CAP PRIVATE EQUITY MANAGEMENT, LLC
ADVISING, INVESTING, AND PARTNERING WITH MANAGEMENT
WHITE CAP PRIVATE EQUITY MANAGEMENT, LLC
221 NORTH LASALLE STREET, SUITE #2910
CHICAGO, ILLINOIS 60601
TEL: 312-263-7580
www.whitecapllc.com
INTRODUCTION
White Cap Private Equity Management, LLC has a rich entrepreneurial history that dates back to the early 20th century.
At that time, foods sealed hermetically in glass containers were expensive - a
virtual luxury. In 1926, George, Phillip, and William White co-founded White
Cap, Inc., which produced a radically new, economical metal closure for glass
containers. Initially manufacturing one million caps in an old box factory on the
Chicago River, their development revolutionized the American food processing
industry by bringing vacuum-packed preserved foods out of the home kitchen
and into mass production.
Today, the company founded by George White and his brothers operates as
Silgan White Cap Americas, a subsidiary of Silgan Holdings, Inc. (NASDAQ:
SLGN). The company continues to operate as a world leader in metal and
George, Bob, and Phillip White, 1941
plastic vacuum closures, manufacturing twelve billion caps annually in plants
worldwide for nearly every type of vacuum closure in use. The company operates 83 manufacturing facilities in North and
South America, Europe, and Asia producing more than 20 billion tops and closures (see White Cap History). Throughout its
history, White Cap has maintained its excellent reputation for quality, customer service and innovation as illustrated in the
1986 Harvard Business School Case Study of White Cap.
As an entrepreneurial merchant banking boutique, White Cap Private
Equity Management, LLC advises like-minded executives on capital
market issues pertaining to private placements, management buyouts,
and leveraged acquisitions. By advising 21st century entrepreneurs,
White Cap is a catalyst for securing financing for the development
and marketing of next-generation products and services.
“In the end, all business operations can be
reduced to three words: People, Products, and
Profit.”
- Lee Iacocca, Retired CEO, Chrysler Corporation.
INDUSTRY FOCUS
White Cap Private Equity Management, LLC is a privately-held boutique investment bank. We focus on providing advisory
services with an emphasis on private placements, management buyouts, and leveraged acquisitions. Since the firm does not
provide research, trading, lending or related activities, it can remain dedicated to building long-term relationships by providing
conflict-free and client-focused advice.
Our industry experience includes Life Sciences & Healthcare, Business & Financial Services, Communications, Consumer
Products & Retail, Natural Resources & Clean Technology, Information Technology and Software, and Real Estate. The firm
has developed a team of dedicated industry specialists and advisors who provide consultation on a case-by-case basis.
Recognizing that human capital is the catalyst to attracting financial capital, White Cap seeks to partner with experienced and
successful management teams regardless of industry. We work alongside a diverse group of institutional investors comprising
private equity and venture capital funds as well as secondary asset sources such as hedge funds, pension funds, endowments,
foundations, and angel investors. The firm advises clients in structuring and arranging capital within all private equity and
debt-related asset classes, including common stock, preferred stock, limited partnership interests, subordinated debt with equity
conversion features, revolving lines of credit, equipment financing, and senior secured debt. Capital commitments are typically
within a $10MM to $500MM target range and may include companies operating in North America, Mexico, South America,
and the European Union.
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Fundraising - through venture capitalists, bankers, or the public markets - remains one of the most important and challenging
issues facing entrepreneurs. Executives turn to us for assistance in raising funds because they understand that building a
successful company is a monumental feat requiring a dedicated partner. White Cap supports clients through the anticipated,
and unforeseen, hurdles of building and operating a company. Because a skilled management team is the bloodline of any
company, White Cap commits significant time working closely with each client to build relationships based on mutual trust.
Beyond guidance, assistance and support, we provide high-growth entrepreneurial ventures with timely access to a syndicate of
institutional and angel investors. Without exception, the firm is committed to providing the absolute best counsel and execution
for every transaction.
Whether you are building a pre-revenue start-up company or acquiring a mature cash flow business, the future is full of
unknowns. That’s why White Cap has developed an advisory board and network to share experience, insights, knowledge, and
information with our clients. We bring years of experience with companies that have faced similar challenges, and offer access
to human capital that gives entrepreneurs the advantage needed to turn their companies into market leaders. Combining this
experience with truly innovative entrepreneurs and business savvy, White Cap helps create the success stories that will reshape the competitive landscape of the global economy.
PRIVATE PLACEMENT
Once under review, business plans and mandates are evaluated based on a
“Good management consists in showing
balance of success criteria. White Cap concentrates on experienced, high
average people how to do the work of
profile management and board members committed to or affiliated with the
superior people.”
venture. Distinctive and otherwise beneficial relationships formed with
- John D. Rockefeller, 1839-1937, American
customers or partners are part of the overall evaluation process. Likewise,
industrialist
management’s ability to demonstrate continuous growth momentum even
under adverse capital market conditions is critical to raising the excitement and attention level within the investment
community. Increasing sales, product development, and industry talk from credible sources helps foster an environment where
an investment decision will be made, rather than delayed.
Although the institutional investor universe is well established it is always evolving, making it difficult to keep abreast of
investment conditions. Our proprietary “Private Capital Market Database” provides unique financing sources and access to
other professional advisors. Acting as an intermediary between its clients and potential investors, White Cap provides a buffer
against unproductive solicitations, conducts the required due diligence on investor prospects and screens out inappropriate
investors, ensuring a smooth fundraising management process. Through our involvement and mediation, management can
avoid the more tedious aspects of the capital raising process, and remain focused on day-to-day operations.
White Cap evaluates potential deals through internal research and analysis to determine its capacity to attract suitable funding.
Our industry focus and contact network assists clients through due diligence, including a detailed background check on the
management team. Developing a strong, compelling investment thesis emphasizing the unique and exciting aspects of the
transaction is critical. The sub-points of the thesis should differentiate the company from its competition and clearly illustrate
revenue and profit growth. Private investors expect higher returns than public investors to compensate for increased risk and
less liquidity. Working with our clients, we structure the security, terms, and valuation that will best meet the market and casespecific requirements.
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A private placement memorandum (PPM) should be a comprehensive but concise presentation. It must be of the highest
quality and easily understood in order to differentiate it from the competition. In parallel with management’s drafting of the
PPM, White Cap develops an investor marketing plan and proprietary target list. The heart of the plan consists of a list of
potential “lead” and “follow-on” investors that may include private equity and venture capital funds and mezzanine funds, as
well as secondary asset sources including hedge funds, pension funds, endowments, foundations and high net worth
individuals. White Cap initiates contact with potential investors, forwards placement memorandums to interested parties,
places follow-up calls to answer questions, and arranges management presentations.
In meetings orchestrated and attended by White Cap, management completes its investor presentation and responds to detailed
questions. Subsequent due diligence requests, meetings or discussions are arranged with the goal of moving rapidly to a
commitment. In tandem with our client, we negotiate with the lead investor(s) and, immediately thereafter, instruct counsel to
draft a Letter of Intent or Definitive Purchase Agreement.
TIMELINE OF EVENTS
Weeks 10-15
 Deliver Confidential Information Memorandum
 Arrange Meetings and/or Calls with Prospective
Investors
 Respond to Information Requests from Prospective
Investors
 Schedule Management Presentations with
Prospective Investors
 Schedule Follow-Up Meetings and / or Site Visits
with Prospective Investors
Weeks 1-2
 Organizational Meetings and / or Calls Placed
 Distribution of Due Diligence Materials and
Financial Information
 Due Diligence Process Begins
 Confidential Information Memorandum
Preparation Begins
Weeks 3-5
 Begin Preparation of Management Presentation
 Create Confidential Information Memorandum
 Finalize Due Diligence
Weeks 16-19
 Complete Management Presentations
 Continue to Respond to Information Requests from
Investors
 Receive and Evaluate Final / Committed Proposals
from Investors
 Negotiate Proposals with Investors
 Negotiate and Execute Final Proposal
Weeks 6-9
 Initiate Contacts with Prospective Investors
 Execute Confidentiality Agreements with
Prospective Investors
 Distribute and Finalize Management Presentation
 Deliver Confidential Memorandum to Investors
 Arrange Meetings and / or Calls with Prospective
Investors
Week 20
 Closing of Transaction
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WHITE KNIGHT, LLC
Periodically, White Cap participates in unique investment opportunities through its affiliated investment vehicle White Knight,
LLC (White Knight). White Knight acts as a financial partner to management teams who are building companies that seek to
change the businesses in which they compete. Investments are made primarily within the following industries: Life Sciences &
Healthcare, Business & Financial Services, Communications, Consumer Products & Retail, Natural Resources & Clean
Technologies, Information Technology and Software, and Real Estate. White Knight does not lead transactions and participates
only alongside proven institutional and corporate investors on a paripassu basis, investing up to $2 MM per transaction.
REPRESENTATION
White Cap evaluates its role and participation within a mandate on a case-by-case basis in order to accurately account for the
specific needs of all parties involved. We offer flexibility in representing each client, structuring our compensation according
to mutually acceptable terms determined at the initial stages of the engagement. Primary consideration is given to: Exclusivity,
Retainer, Expenses, Closing Fees, and Equity Participation.
MANAGING PARTNERS
Stephen M. White
Stephen M. White is the Founder and Chairman of White Cap Private Equity Management, LLC. Stephen has developed
extensive knowledge within the institutional private capital markets with a concentration on leverage acquisitions and venture
capital. His mandates and contingency assignments have included both public and private companies at all stages of
development and industries including Life Sciences & Healthcare, Communications, Consumer Products & Retail, Natural
Resources & Clean Technology, Information Technology and Software, and Real Estate. In addition Stephen has played key
roles in recruiting and forming C-level management teams and Advisory Boards.Prior to forming White Cap Private Equity
Management, LLC, in 1999, Stephen spent seven years as Managing Director of James J. White & Associates, LLC, a closely
held investment bank specializing in the origination of management-led buyouts of public and private companies. In this
capacity the firm consummated billions of dollars in transactions in conjunction with private equity groups such as Kohlberg,
Kravis, Roberts (KKR), Morgan Stanley Capital Partners, and The Blackstone Group. Prior to his tenure at James J. White &
Associates, Stephen held various investment banking positions at the Utilities and Project Finance Group at Manufacturers
Hanover Trust Limited, the Capital Markets Group at Merrill Lynch, the Financial Engineering Group at Midland Montagu
Limited, and the Public Affairs Department at The Atlanta Federal Reserve. Stephen earned graduate degrees in Business
Studies and in Finance and Accounting from the London School of Economics and Political Science, London, England and
completed his undergraduate studies at Southern Methodist University, Dallas, Texas.
Adeesh Chandra
Adeesh Chandra is a Managing Partner of White Cap Private Equity Management, LLC. Adeesh specializes in emerging
growth financing and was instrumental in creating the firm’s venture capital practice. Responsible for orchestrating the
implementation and development of the firm’s proprietary “Private Capital Market Database”, Adeesh has also advised clients
in industries such as Life Sciences & Healthcare, Business & Financial Services, Consumer Products & Retail, Information
Technology & Software, and Real Estate. Prior to joining White Cap Private Equity Management, LLC in 2000, Adeesh
worked as an analyst within the Mergers & Acquisitions Group at Lazard Frères & Co., LLC, providing underwriting, advisory
and asset management services. In this role, Adeesh participated in the execution of mergers, acquisitions, and capital market
transactions in addition to researching selected industries. Prior to his position at Lazard, Adeesh served as an analyst at
Consulting Group, Inc., a firm providing application development services including information services, database design,
and project management; and Aventis Pharmaceuticals, a subsidiary of European drug maker Sanofi-Aventis, the world’s third
largest pharmaceutical company. Adeesh earned a Bachelor of Arts in Economics from the University of Chicago.
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Nikolaos Roussos
Nikolaos Roussos is a Managing Partner of White Cap Private Equity Management, LLC. Niko is responsible for the firm’s
real estate and debt placement practice specializing in financial modeling, debt origination and restructuring. Prior to joining
White Cap Private Equity Management, LLC, Niko was Managing Partner at NR Advisors, a boutique real estate and
commercial banking advisory firm with clientele including American Invsco, Colony Capital, DRW Trading, Hermes Capital,
First Eagle Bank, Mbank Financial, Sciens Capital, Starr Resources, The Milken Institute, United Investors, US Bank, Vista
Hospitality, and Wells Fargo. Prior to NR Advisors, Niko was Executive Vice President, Special Assets, Broadway Bank,
family-owned community bank primarily focused on real estate lending, overseeing $290 million of NPL and $60 million of
OREO; Vice President, Lending & New Business Development, Hermes Capital, a $20 million real estate focused private
equity and mezzanine lender; Partner, Chicago Advisors, a real estate consulting company that assisted developers with
feasibility studies and secured $400 million in financing for various new construction developments in Chicago, Minneapolis,
and Miami, and Senior Analyst, Acquisitions/Finance, American Invsco, a leading residential and mixed-use real estate
company, overseeing financial analysis for a $1 billion multi property portfolio located in Chicago, Atlanta, Florida, and
Michigan. Niko earned a Master of Business Administration Finance, Master of Science in Mechanical Engineering, Bachelor
of Science in Mechanical Engineering, University of Alberta, Edmonton, AB, Canada. Niko is a Chartered Financial Analyst.
ADVISORY BOARD
Joseph D. Morales
With over four decades of executive management and
“Never let go! Too many give up too early. Too many
operations experience, Joe spearheads all activities within
give up not realizing how close to success they were.
Life Sciences & Healthcare. From 1962 to 1978 Joe held
Believe in your dreams even if everyone around you has
financial and management positions at Fortune 500
awakened from theirs. This game is the pursuit of
Companies including Ford Motor Company, Rockwell
opportunity without regard for resources. Fifty
International, Admiral and United Brands respectively. In
rejections is a good start. Fifty rejections is not enough.
1978, Joe was recruited to Searle, now a unit of Pfizer, as a
If you prefer to play rather than be a spectator, you will
member of a turnaround team. At the time, Searle suffered
succeed. Success is rarely a solo effort. There is a
from declining profits within its various businesses as well as
positive aspect to everything. Find it.”
a severely depressed stock price. During his tenure, Joe
- Anonymous
served in various capacities including VP & Corporate
Controller; VP & General Manager of the U.S. Pharmaceutical Group, a unit with annual sales of over $300 MM; VP of
Corporate Planning, working with Searle’s CFO to develop and implement a three-phase growth plan for Pearle Vision
Centers, resulting in an IPO and sale to Grand Metropolitan; and VP of the R&D Division, a unit with approximately 1,400
scientists and technicians and an annual expenditure budget of $120 MM. Once Searle obtained a patent for NutraSweet, the
non-caloric sweetener, Joe became COO of The NutraSweet Company, growing annual sales to $1 BN. In 1987, Joe started a
private consulting practice which included merger and acquisition work, investment banking, market studies for new products,
installation of management reporting systems, and restructuring analysis. In 1999, Joe became COO of Triangle Laboratories,
an analytical laboratory which he departed in early 2004 when the company became the target of a hostile takeover. Prior to
joining White Cap Private Equity Management, LLC, Joe served as COO, Summit TCD Corporation, a boutique consulting
firm which develops custom software for Fortune 500 companies in the diagnostic and healthcare industry. Joe earned a B.A.
in International Relations from the University of Southern California, graduating Phi Beta Kappa. He was subsequently
awarded a Woodrow Wilson Foundation fellowship for graduate studies in economics at Princeton University. After leaving
Princeton in 1961, Joe performed active military duty in the U.S. Army Reserves.
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Ellen C. Craig
Ellen has been a regulatory law and policy consultant specializing in energy and telecommunications issues since 2001. She is
also a Senior Advisor to The Brattle Group, an international economic consultancy. From 2004 to 2009 she served as ViceChairman and Commissioner of the Illinois Executive Ethics Commission. From 1999 to 2004, Ellen provided in-house
telecommunication and regulatory policy expertise to CoreCommComunications, Inc. and USN Communications, Inc,
Previously, she was a consultant specializing in domestic and international telecommunications and utility regulatory issues
from l994 to l997. From 1989 to l994, she served as Chairman and Commissioner of the Illinois Commerce Commission, the
state public utilities regulatory body which regulates electric, gas, trucking,
“The merger environment then
telecommunications, and water utilities. From 1978 to 1989, she was a law
(1967), compared to what it is today,
and policy advisor to Governor James R. Thompson, and held several
was like comparing a Mozart quartet
management positions including Deputy Chief of Staff. Ellen is a Director of
to Mick Jagger.”
the Environmental Law and Policy Center and several other not-for-profit
- Felix Rohatyn, Former Managing
organizations. She earned a B.A. from Cardinal Cushing College and a J.D.
Director, Lazard Frères & Co.
from The John Marshall Law School. She is admitted to practice in Illinois.
Douglas V. Krenz
Doug is currently a Senior Executive at Enbridge Inc. (NYSE: ENB), a $20 billion energy transportation and distribution
company which operates the world’s longest crude oil and liquids transportation system. As Vice President Gas Transmission
and Development for Enbridge Energy Co. Inc. and President of the Enbridge Offshore Pipeline assets, Doug directs gas and
oil pipeline operations in the Gulf of Mexico as well as natural gas business development and interstate pipelines located in
North America. Prior to joining Enbridge in 2005, Doug served as President of Shell Gas Transmission responsible for the
development of the Gulf of Mexico gas pipeline infrastructure since 1996. From 1974 to 1996 he held various executive
positions with Northern Natural Gas and Enron. Doug has more than 30 years of energy industry experience with emphasis in
areas of interstate and gathering pipeline development and
“I think it’s fortunate that to some degree the
management. He has been involved with the development and
word ‘entrepreneur’ has taken on the
management of a number of major capital investments and businesses
connotation of a gambler. I don’t see it that
in natural gas pipeline, storage fields, gas processing and acquisitions.
way at all. Many times, action is not the most
Doug is a member of INGAA as well as the Southern Gas
risky path. The most risky path is inaction.”
Association. He earned a B.S. in Mechanical Engineering and an
- Fred Smith, Founder of Federal Express.
MBA from the University of Nebraska.
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TRANSACTION HISTORY
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TRANSACTION HISTORY
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TRANSACTION HISTORY
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THE HISTORY OF WHITE CAP
Continuous innovation, constant growth and global expansion are all part of the
history of White Cap, Inc. From a production capacity of one million closures in
the first year of operation, 0White Cap now produces billions of closures
annually, making it the world leader in the manufacturing of vacuum closures.
William P. White and his two brothers, George and Philip, formed the White
Cap Company in 1926. They operated from an old box factory on Goose Island
in Chicago, Illinois. White Cap entered the market with a single product - the
‘’Side-seal’’ pry-off closure. In 1929, White Cap developed the ‘’Vapor vacuum®” high-speed sealing process, allowing
packages to be sealed at speeds of 100 jars per minute and, in turn, revolutionize the food industry.
As the 1930s approached, White Cap continued to grow. New types of closures, increased sales and greater demands on
production dictated the need for a new factory. In 1932, they moved to 1819 North Major Avenue, Chicago. During this time,
White Cap also signed its first overseas license agreement with Wallace Tin Stamping in England.
The 1940s brought expansion as well as more changes for White Cap. Sprite
Cap and H.J. Heinz Company began making and distributing lid-flippers for
removing crown-style and snap-on vacuum closures. While World War II put
a halt to this project, the war limited the use of metal, forcing food packers to
switch from cans to glass, thus increasing the demand for closures. As a result
White Cap’s employment increased from 200 to 1,100 employees.
Innovation flourished at White Cap during the l950s. The new “Twist-Off®”
lug closure was introduced – the first such closure that did not require a tool
for removal. In addition, the safety button, glass unscramblers and glass
cleaners were developed. White Cap expanded into West Germany. In 1956,
through an exchange of stock, Continental Can Company acquired White Cap
Company and changed the name to Continental White Cap.
The White Cap trade show booth, Canners’
Convention, Atlantic City, New Jersey, 1958.
The 1960s saw further international expansion, linking England and West Germany with Holland, France, Spain, Italy, Canada,
Japan and Mexico in a worldwide licensed manufacturing network. In addition, two more plants were built: one in Hayward,
California, and the other in Hazleton, Pennsylvania. During this decade, the new “Deep Snap-Reseal” closure replaced the
original “Snap-Reseal” closure; a totally new closure for baby food, the “P-T™’” closure was introduced; and a “VaporVacuum” capping machine was introduced that could seal closure at 1,500 jars a minute.
International operations reached Australia, Israel, Poland and the USSR during the 1970s. Continental White Cap entered the
non-metal closure business with plastic “child-resistant” closures and also introduced a metal and plastic closure for peanuts. A
new (40mm) deep shirt “P-T” closure was introduced that led the baby juice market to the exclusive use of glass instead of
cans.
During the 1980s, Continental White Cap celebrated its 60th anniversary and the 50th anniversary of the licensee programs.
Domestic and International operations continued to expand. A new Research & Development facility, the world’s largest
laboratory exclusively for closure development, was opened in Downers Grove, IL. Continental White Cap opened a plastics
facility in Champaign, Illinois; the first of its kind in the world devoted to manufacturing all-plastic vacuum holding closures
and with that in 1986 they introduced the first (43mm) all-plastic vacuum holding closure for use on hot fill PET (64 oz.)
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containers. They also opened licensee and sales operations in Korea, Colombia, Pakistan, Morocco and Sri Lanka. In 1984,
Continental Can Company was acquired by Peter Kiewit & Sons and became a Kiewit Company.
During the 1990s, White Cap went through a series of management changes and an
ownership change. In August 1991, Continental White Cap was acquired by
Continental Can Europe USA Holdings, Inc. (CCE U.S.). CCE U.S. was a wholly
owned subsidiary of one of Europe’s largest packaging companies, SchmalbachLubeca AG. Schmalbach-Lubeca AG, a $2.2 billion company, specialized in
aluminum, tinplate and plastics packaging. Schmalbach-Lubeca AG began trading
under the name of Continental Can Europe in 1992, and White Cap was one of six
divisions. White Cap opened a new plant in Mexico in 1996. Due to a change in our
product mix and our customer base, White Cap closed its Hayward, California plant
in 1997 and opened a second plastics plant in Athens, Georgia in 1998. Also in 1998
White Cap introduced the first (63mm) all-plastic vacuum holding closure for use on
Widemouth PET containers for hot filled food products. In 1999 White Cap
introduced its first closures (38mm) manufactured using compression molding
technology.
“Nothing in the world can take
the place of persistence. Genius
will not. Unrewarded genius is
almost a problem. Talent will
not. The world is filled with
unsuccessful men of talent.
Education alone will not. The
world is filled with educated
derelicts.”
- Ray Kroc, Founder of McDonald
Corporation.
During the 2000’s White Cap again went through a series of ownership changes. In 2001 Schmalbach-Lubeca formed a joint
venture with Silgan Holdings to create White Cap, LLC. In 2002 Amcor Ltd. of Australia purchased Schmalbach-Lubeca’s
PET business as well as the White Cap closure business. In 2003 Silgan Holdings turned around and purchased Amcor
Limited’s portion of White Cap, LLC and changed the name to Silgan Closures LLC. In 2006 Silgan Holdings Purchases
Amcor White Cap Europe/Asia & South America, Re-Unification of the White Cap Businesses; Name Changes to Silgan
White Cap Americas & Silgan White Cap Europe/Asia. From 2008 to 2013 White Cap makes a series of acquisitions including
Grup Vemsa Metal Vacuum Closure Business, Ipec Dairy Closure Business, Amcor AU Metal Twist-Off/Plasti-Twist
Business, MCS Vision and Technocap Lug Business.
“When as a young and unknown man I
started to be successful I was referred
to as a gambler. My operations
increased in scope and volume. Then I
was known as a speculator. The sphere
of my activities continued to expand
and presently I was known as a banker.
Actually, I had been doing the same
thing all the time.”
- Sir Ernest Cassell, Private banker to King
Edward VII.
In spite of the ownership changes White Cap continued to make advances in
closure technology. In 2000 “improved” TPE barrier liners were introduced as
well as its first “linerless” closure under license from Bericap. In 2001 the
(63mm) metal and plastic composite closure was introduced for use on both
glass and plastic containers. In 2003 the 43mm Ultima® steamless plastic
closure was introduced on Gatorade. In 2004 the first ever non-round allplastic vacuum holding closure (VOS) was introduced in partnership with
Ocean Spray Cranberries, Inc. In 2005 a second linerless closure design was
introduced into the market (36mm VLP). From 2008 to 2013 White Cap
introduced a number of innovations including 63mm VSJ Plasti-Twist Plus,
43mm VSD Lighter Wt. plastic closure, 38mm VSI Injection molded closure
for short finishes and 68mm VersaSeal deep lug closure.
As White Cap approaches 2015 the company finds that plastic closures have begun to outsell metal closures as food and
beverage containers convert from glass to plastic. White Cap has positioned itself very well both from a management
standpoint and a technical standpoint to maintain its leadership role in the field of vacuum holding closures now as a global
company.
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WHITE CAP PRIVATE EQUITY MANAGEMENT, LLC
221 NORTH LASALLE STREET, SUITE #2910
CHICAGO, ILLINOIS 60601
TEL: 312-263-7580
www.whitecapllc.com