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December 2007 |
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| Sale of Advanced H2O, Inc. of Seattle, WA |
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Chicago, IL – LaSalle Capital Group, L.P. (“LaSalle Capital”) announced the sale of its platform company, Advanced H2O, LLC, to HM Capital Partners, LLC of Dallas, TX. Advanced H2O, based in Mercer Island, WA, is a leading supplier of private label bottled water and non-carbonated beverages to large retail customers in the western U.S. and Canada.
In June 2005, LaSalle Capital and its investment partner Merit Capital Partners, both of Chicago, IL, acquired the Company through a leveraged recapitalization in partnership with Bob Abramowitz, the Company’s founder and CEO. Bob and his management team will continue to lead the Company and will retain partial ownership of the Company after the sale to HM Capital.
Advanced H2O has experienced tremendous growth since its inception in 1998. During the course of LaSalle Capital’s ownership, the company tripled its production capacity, opened a state-of-the art facility in Stockton, CA and expanded its business geographically into Northern California and Canada.
In announcing the sale, Jeff Walters, Partner at LaSalle Capital stated, “It has been a pleasure to work with Bob Abramowitz and his fine management team and to have achieved such a successful exit.” Bob Abramowitz, CEO of Advanced H2O added, “LaSalle Capital helped us transform our business from a regional bottled water company into a vertically integrated, nationally recognized player,” adding, “we hope to continue building our platform with our new partners at HM Capital.”
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