News

December 1, 2009

Lydall Transport, LTD Announces Expansion and Name Change to CrossGlobe Group

Lydall Transport, Ltd. announced today that it will begin transitioning its businesses to the CrossGlobe Group brand. For over 50 years Lydall Transport, Ltd. has provided fast, efficient, trusted transportation and services to producers of specialized products that require expert care and handling. As the CrossGlobe Group, the company will build on the reputation for service excellence that has enabled Lydall Transport to become the trusted partner of some of the largest companies in the world.
Read more here.

September 9, 2008

Lydall Transport, Ltd. Signs Management Buyout

Lydall Transport, Ltd. announced today that it has signed a definitive agreement to complete a management buyout financed by Pine Creek Partners, a Washington, D.C. based private equity firm.  Lydall Transport, Ltd. was previously a subsidiary of Lydall, Inc. (NYSE:  LDL).  The transaction is expected to close in the third quarter of 2008 and is subject to customary closing conditions.  Bill W. Franks, Jr., Lydall Transport's CEO, commented, "I and the entire management team have been deeply committed to continually improving the level of services that we can offer our customers.  With this new partnership with Pine Creek Partners we will be able to grow our business and expand our capabilities into new markets and regions."
Read more here.

May 8, 2008

"Will Our Customers Bail Us Out?"
Harvard Business Review - May 2008
(Rick Rickertsen)

David’s guiding principle in talking with Clarinda’s customers should be to disclose nothing beyond what he has to. He’ll have to discuss the layoffs, of course, which will soon be industry knowledge, if they aren’t already. He’ll need to apologize to Red Bones, the Pearson buyer, for not telling him about the cuts earlier and explain that they resulted from the loss of the Reed Elsevier business. Otherwise, all is steady, and serving Pearson remains Clarinda’s most important goal.
Read more here.

February 19, 2007

"Private Equity's Role Grows Along With Local Deals"
Washington Post

The value of mergers and acquisitions in Virginia, Maryland and the District hit record highs last year, according to data compiled by Bloomberg. But even more striking is the growth of private-equity involvement in these deals, which more than doubled in each of the three jurisdictions. Read more here.

October 20, 2006

"Investing Pros Scout D.C. for Potential Buyout Deals"
By Ben Hammer

Two local finance vets have raised money for an investment fund that will be combined with debt financing to provide $150 million they can spend on management-led buyouts.  Read more here.

October 5, 2006

Pine Creek Partners Announces Fund Closing

Pine Creek Partners, a private equity firm in Washington, DC, today announced that it has closed its first private equity fund, Pine Creek Partners I, at $53 million. Read more here.

September 25, 2006

"Recent Deals"
Washington Post
By Terence O'Hara

Pine Creek Partners, a private equity firm run by well-known local investors Carl J. "Rick" Rickertsen and George McCabe , finished raising its first investment fund last week to finance small and mid-size management buyouts. Read more here.