RICHMOND, VA – September 9, 2011 – Cary Street Partners LLC announced today that The Country Vintner has received a significant investment from Brockway Moran & Partners, Inc. The Country Vintner is a leading distributor and importer of fine wines and American craft spirits in the Mid-Atlantic and Southeast. Cary Street Partners acted as financial advisor to The Country Vintner which had been controlled by a private equity fund managed by PNC Equity Partners.
“We are thrilled to be working with Brockway Moran & Partners as we seek to continue to grow our distribution and import business”, says David Townsend, President & CEO of The Country Vintner. “We also want to thank our friends at PNC Equity Partners who supported our tremendous growth over the past three years”, Townsend added.
The Country Vintner distributes a wide range of high quality wines and American craft spirits, serving restaurants and retailers in Virginia, Florida, North Carolina, South Carolina, Delaware, Maryland, West Virginia and Washington D.C. Headquartered in Ashland, VA, The Country Vintner distributes over 1,500 wine and spirits labels and maintains direct relationships with nearly 400 key domestic and international wineries and distilleries. TCV distinguishes itself with its customers through its broad product selection, knowledgeable sales force of trained wine and spirits consultants and on-site merchandising services.
About Brockway Moran & Partners
Brockway Moran & Partners is a private equity firm with more than $1.3 billion of capital under management. The firm acquires growth-oriented middle market companies valued between $50 million and $300 million in partnership with exceptional management teams. Brockway Moran & Partners focuses on businesses with significant growth opportunities either through internal expansion, industry consolidation or innovative business strategies.
About PNC Equity Partners
PNC Equity Partners invests in companies operating in micro-markets, making private equity investments of $10 million to $30 million in leveraged buyouts, recapitalizations and large minority financings of middle market companies with enterprise values between $25 million and $150 million across a variety of industry sectors. Investments for PNC Equity Partners are currently being made by PNC Equity Partners II, L.P., a private equity firm managed by an affiliate of The PNC Financial Services Group, Inc.
About Cary Street Partners
Cary Street Partners provides objective investment banking and wealth management solutions to successful individuals, institutions and companies from its Southeastern base. The investment banking team provides a broad range of services including merger and acquisition advisory services, private placements of debt and equity capital, and strategic and financial advice to management teams and boards of directors of emerging growth and middle market public and private companies across a variety of industries.
For more information about this transaction or Cary Street Partners’ investment banking group, please contact Tom Tullidge or Happy Anderson at 804-340-8100. Additional information about Cary Street Partners can be found at www.carystreetpartners.com.