has been recapitalized by
CanGen is a supplier of engineered metal replacement parts for plastic and rubber product manufacturers.
CanGen is one of the country's leading manufacturers of engineered replacement parts used by manufacturers of plastic and rubber products. The Company's sales are made to wire and cable, medical, plastic and rubber extrusion and injection molding companies throughout the United States, Mexico, Latin America, and Europe.
Following Croft & Bender's successful negotiation of the Company's recapitalization two years before, the Company's majority owner, Azalea Capital, LLC, engaged Croft & Bender to complete an exclusive sale process, which included valuing the Company, identifying potential acquirers, drafting the offering memorandum, marketing the Company, selecting a partner, and negotiating the transaction.
Croft & Bender successfully negotiated the sale of the Company to CHB Capital Partners III, L.P. Azalea Capital exited the transaction with a significant return on its investment, and management was provided liquidity while also maintaining an equity interest in the Company going forward.