NEW YORK, NY--(Marketwire - May 30, 2007) - Bear Stearns Merchant Banking ("BSMB"), a
leading institutional private equity firm, today announced that it has
added a new Senior Advisor, Phil Yates, an experienced executive in the
global packaging industry. With 35 years of experience, Mr. Yates was most
recently Chairman and Chief Executive Officer of Graham Packaging, a global
provider of rigid plastic packaging. During his time as CEO, Phil drove
sales from $500 million to $2.5 billion and was responsible for initiating
industry-wide changes through the development of new packaging
"I am excited by the opportunity to work with BSMB in identifying and
assisting growth-oriented packaging companies," said Mr. Yates. "This
position allows me to apply both my knowledge of the industry and my
history serving major consumer packaged goods companies. I look forward to
pursuing investment opportunities with the BSMB team."
"We are pleased that Phil has chosen to join our firm," said Philip M.
Carpenter III, Managing Director and Partner of BSMB. "Phil's vast
experience and relationships make him a great asset to our packaging
industry investment initiative."
The principals of BSMB have identified the packaging industry as an area of
investment focus and have dedicated significant resources toward this
effort. BSMB's portfolio currently includes Multi Packaging Solutions
Inc., a leading provider of print-based packaging, which has completed four
acquisitions over the past three years.
BSMB, the private equity affiliate of The Bear Stearns Companies Inc.
(NYSE: BSC), invests private equity capital in compelling leveraged
buyouts, recapitalizations and growth capital opportunities alongside
superior management teams. BSMB focuses on making control or
entrepreneur-driven investments, principally in middle-market retail,
financial services and consumer products companies. Since its formation in
1997, BSMB has been an investor in over 50 portfolio companies. BSMB
manages nearly $5 billion of private equity capital, including its new $2.7
billion institutional fund and capital dedicated to its affiliate, Bear
Growth Capital Partners. Investments by BSMB include: ACA Capital Holdings
(NYSE: ACA), Alter Moneta, Balducci's, CamelBak Products, Caribbean
Financial Group, Cavalry Investments, Churchill Financial Holdings,
Dairyland, Everything But Water, Harlem Furniture, Ironshore Inc., Multi
Packaging Solutions, New York & Company (NYSE: NWY), PlayCore, Seven For
All Mankind, Stuart Weitzman, Transamerican Auto Parts Company and The
Vitamin Shoppe. More information about BSMB is available at www.bsmb.com.
Contact Information: Contact:
Melissa Daly or Elizabeth Patella