CHICAGO, IL / ACCESSWIRE / July 9, 2024 / O2 Sponsor Finance, a division of Previous Second Nationwide Financial institution (NASDAQ:OSBC), at the moment introduced that it offered senior secured credit score services to assist Encore Shopper Capital (“Encore”) in its acquisition of Chalet Desserts (“Chalet”).
Primarily based in Sacramento, CA, Chalet is a specialty producer of frozen bakery desserts and baked good inclusions which are bought into the in-store bakery at supermarkets and comfort shops in addition to foodservice and ingredient end-markets.
“We’re excited to assist Encore Shopper Capital’s acquisition of Chalet. Chalet is a class chief with intensive manufacturing capabilities and a powerful administration workforce. We sit up for supporting Chalet’s development. ” mentioned Nick O’Brien, Senior Vice President, O2 Sponsor Finance.
About Chalet Desserts: Chalet, based mostly in Sacramento, CA, is a specialty producer of frozen bakery desserts and baked good inclusions which are bought into the in-store bakery at supermarkets and comfort shops in addition to foodservice and ingredient end-markets. For extra info, please go to: www.chaletdesserts.com.
About Encore Shopper Capital: Encore Shopper Capital is a personal fairness funding agency centered on the patron merchandise trade. The agency has raised over $900 million in dedicated capital and invested in over 40 corporations within the sector. Encore’s present and prior investments embody meals and beverage producers and entrepreneurs, pet merchandise corporations, private care/magnificence corporations, and meals distribution corporations. The agency targets corporations with between $10 million and $150 million in annual revenues the place Encore’s robust experience in technique improvement, model advertising, manufacturing and provide chain optimization, and distribution growth can drive efficiency. For extra info, please go to: www.encoreconsumer.com.
About O2 Sponsor Finance: O2 Sponsor Finance is a nationwide supplier of money flow-based loans to decrease center market companies with usually $10 to $100 million in income and between $2 million and $10 million in EBITDA. O2 Sponsor Finance focuses on supporting personal fairness sponsors, impartial sponsors and household workplaces of their acquisition or recapitalization of decrease center market corporations. For extra info, please go to www.O2sponsorfinance.com.
About Previous Second Bancorp (NASDAQ:), Inc.: Previous Second Bancorp, Inc., headquartered in Aurora, Illinois, is the financial institution holding firm for Previous Second Nationwide Financial institution, which celebrated 150 years of operation in 2021. Previous Second’s widespread inventory trades on The NASDAQ Inventory Market beneath the image “OSBC”. Extra details about Previous Second is accessible by visiting the “Investor Relations” part of its web site www.oldsecond.com.
Previous Second Nationwide Financial institution, Member FDIC, was just lately named primary amongst “Finest Financial institution in Illinois 2021.” This was the second straight yr the financial institution was chosen by prospects for the award. Awards are decided based mostly on a survey of over 25,000 U.S. prospects who fee banks on total satisfaction in addition to belief, phrases and circumstances, department companies, digital companies and monetary recommendation.
As of March 31, 2024, Previous Second has roughly $5.6 billion in belongings, $4.6 billion in deposits and $4.0 billion in loans.
Contact:
Bradley S. Adams EVP, Chief Working Officer and Chief Monetary Officer (630) 906-5484
SOURCE: Previous Second Bancorp Inc.
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