Banta Corporation Completes The Sale Of Its Healthcare Products Business
MENASHA, Wis., April 12 /PRNewswire-FirstCall/ -- Banta Corporation today said that it has completed the previously announced sale of substantially all of the assets of its single-use healthcare products subsidiary, Banta Healthcare Group, Ltd., to an affiliate of Fidelity Capital Investors, Inc. The purchase price of the transaction was $67 million in cash, subject to final net working capital adjustments. In a separate, previously announced transaction related to the divestiture of the Banta Healthcare Group, Banta Corporation sold its warehouse in Rialto, CA, to a California real estate investment company for $7 million.
With the sale of the assets of Banta Healthcare now final, Fidelity Capital Investors today announced that it will rename the business TIDI Products, LLC. For more information on the transaction, see Fidelity Capital Investor's news release dated today, and Banta's news release dated February 14, 2005.
Banta Corporation ( http://www.banta.com/ ) is a technology and market leader in printing and supply-chain management. The corporation provides a comprehensive combination of printing and digital imaging solutions to leading publishers and direct marketers, including advanced digital content management and e-business services. Banta's global supply-chain management businesses provide a wide range of outsourcing capabilities to the world's largest companies. Services range from materials sourcing, product configuration and customized kitting, to order fulfillment and global distribution.
Fidelity Capital Investors (FCI) is a private equity leveraged buyout firm focused on acquiring established middle-market businesses. Investing exclusively for the account of Fidelity Strategic Investments, FCI actively seeks to partner with existing management teams to acquire and grow companies with revenues between $25 million and $250 million. For more information, visit http://www.fidelityacquisitions.com/ .
TIDI Products, LLC is a leading manufacturer and distributor of single-use products for the healthcare and dental markets. Products are primarily paper and film based, and include patient exam gowns, examination table paper, dental bibs, gauze sponges and thermometer sheaths.
Banta CorporationCONTACT: Geoff Hibner, Chief Financial Officer, +1-920-751-7155, MarkFleming, director, investor and corporate communications, +1-920-751-7713,both of Banta Corporation; or Eileen Newman, vice president of communicationsof Fidelity Capital Investors, +1-617-563-9113