NEW YORK, Dec. 4, 2012 (GLOBE NEWSWIRE) -- Current Capital LLC, a private equity and portfolio company management firm, today announced a two-year extension of its agreement to help enhance value at Tompkins Holding Company for all shareholders, including certain funds managed by GSO Capital Partners L.P., an entity majority owned by Blackstone (NYSE:BX). Current Capital will continue to consult and work with Tompkins on topics important to the profitable growth of the company, including, but not limited to, strategic issues, business development and capital structure strategies. Two Managing Directors of Current Capital will remain on the Tompkins Board of Directors.
Tompkins transforms supply chains to help create value for all organizations. For more than 35 years, it has provided end-to-end solutions on a global scale, helping clients align business and supply chain strategies through operations planning, design and implementation. Its clients have included Amazon.com, Armstrong World Industries, Ford and TEVA Pharmaceutical.
"Current Capital has been a valued partner, and we are delighted to continue to have their support," said Dr. James A. Tompkins, President and CEO of Tompkins. "The firm has played a key role in a number of areas, including organizational structure, business development and cost and capital structure issues."
Louis Salvatore, a Senior Managing Director of Blackstone and Head of Portfolio Management of GSO Capital Partners, commented that "Current Capital has helped to drive a variety of key strategic initiatives at Tompkins, and the firm will continue to play an important role in this company. We value their proactive efforts with Tompkins and timely communication with us."
Jonathan F. Foster, Founder and Managing Director of Current Capital, stated, "Current Capital is gratified by the confidence that Tompkins and GSO continue to show in our portfolio company management business. We have now been involved in three projects for GSO."
About Current Capital LLC:
Current Capital LLC (www.currentcap.com) is a private equity and portfolio company management firm comprised of operating executives and investment professionals that helps create value, primarily in middle market and smaller companies in the industrial and business services industries. The firm brings an integrated operating, finance and investment approach to two large sectors, industrials and business services, where it has extensive experience, relationships and perspectives. In addition to its private equity business, Current Capital's portfolio company management business helps to manage portfolio companies and "orphan assets" for unnatural investors as well as provides related services such as serving on Boards of Directors and doing expert witness work in corporate litigation.