Oleet News
News
- Oleet & Co. Advises Seventh Generation on Growth Equity Financing
- Oleet & Co. Advises Affiliate of the City of Burlington, VT on Tax-Exempt Bond Refinancing
Oleet & Co. Advises Seventh Generation on Growth Equity Financing
"We are grateful for Oleet & Co.'s efforts on our behalf. By first coming to truly understand Seventh Generation, the investment bankers at Oleet & Co. were able to bring insightful perspective to our search for long-term investors. Through its understanding of the family office landscape, the Oleet & Co. team was able to guide us in forging a relationship with Schooner Capital, a Boston-based family office. This transaction will enable Seventh Generation to grow and remain an independent Vermont company."
-- Peter M. Graham, Chairman, Seventh Generation
"Over the years, Jason has come to understand how we think about our work as long-term investors, and he has been thoughtful in considering us for investment opportunities that appropriately reflect our values. The fit with Seventh Generation was present from our very first visit with Peter Graham - this was something that Oleet & Co. intuitively understood, and we are grateful that they brought us to the table to lead this investment."
-- Ted Henderson, Managing Director, Schooner Capital
About the Transaction
In its efforts to obtain patient capital to support its rapid growth, Seventh Generation turned to Oleet & Co. for advice - marking the first time the Company sought outside investment banking counsel since going private over a decade ago. Oleet & Co. worked alongside the company's Chairman, Peter Graham, to craft a strategy consistent with the long-term outlook held by Seventh Generation's current shareholders. As a result, instead of marketing to a broad range of private equity funds, Oleet & Co. leveraged its longstanding relationships with a number of family offices to find the perfect fit - not just in terms of investment objectives, but in terms of culture and values.
About Seventh Generation
Seventh Generation, Inc. is the preeminent consumer brand in North America of authentic, safe, and environmentally-responsible products for the home. For over twenty years, the closely-held Burlington, Vermont-based company has been at the forefront of a cultural change in consumer behavior and business ethics. This leadership has built a remarkable following for its products and a strong and well-deserved reputation which the company has successfully converted into rapid sales growth.
About Schooner Capital
Founded in 1971, Schooner Capital LLC is a Boston-based private investment firm. Schooner has no outside limited partners and approaches all investments with a long-term perspective. The firm is an active investor in private growth companies across sectors, favoring recurring revenue, capital efficiency, and protective moats. Schooner's structure allows them to respond to unique situations without mandate constraints or fundraising concerns.
About Oleet & Co.
Oleet & Co. advises leading middle market companies on mergers and acquisitions, and assists corporations and tax-exempt institutions in navigating the capital markets. Through Oleet Global Investors, the firm maintains the nation's only investment banking practice focused on originating and executing EB-5 financings. Together with several family offices, the firm makes principal investments through Oleet Partners, its private equity affiliate.
Oleet & Co. Advises Affiliate of the City of Burlington, VT on Tax-Exempt Bond Refinancing
"The investment bankers at Oleet & Co. helped us to take a holistic view of our credit facilities and our exposure to interest rate risk. Their analysis identified an opportunity for us to complete a new bond issuance and to unwind a swap that had moved against us. Through this transaction we lowered our cost of capital, increased our cash flow, and reduced our interest rate risk. Oleet & Co.'s persistence delivered an attractive solution for the Burlington Community Development Corporation, the City of Burlington, and the City's taxpayers."
-- Jonathan Leopold, Chief Administrative Officer City of Burlington, Vermont
About the Transaction
In its efforts to improve the Burlington Community Development Corporation's ("BCDC") financial stability, the City of Burlington, Vermont (the "City") turned to Oleet & Co. for investment banking counsel. After carefully analyzing BCDC's financial situation, Oleet & Co. recommended a tax-exempt revenue bond refinancing that would improve cash flow while reducing interest rate risk.
Oleet & Co. worked alongside the City's Chief Administrative Officer to craft and execute a refinancing strategy to achieve these goals. After overcoming several obstacles, including unwinding an outstanding interest rate swap that had moved against the City, restructuring a lease to obtain sufficient collateral coverage, and navigating complex municipal statutes related to BCDC's status as an Affiliate of the City, Oleet & Co. delivered a successful transaction for BCDC, the City, and the City's taxpayers.
About the Burlington Community Development Corporation
The Burlington Community Development Corporation, a non-profit corporation, was established by the City of Burlington in 1982 to help carry-out the City's community development mission. Since 1982, the BCDC has helped to finance over fifteen city-sponsored projects that have created hundreds of jobs and improved the quality of services available to Burlington's employers, residents, and visitors. Recent examples of projects made possible by the BCDC include the City Market, Westlake Garage, and the South End Transit Center.
About Oleet & Co.
Oleet & Co. advises leading middle market companies on mergers and acquisitions, and assists corporations, municipalities, and tax-exempt institutions in navigating the capital markets. Through Oleet Global Investors, the firm maintains the nation's only investment banking practice focused on originating and executing EB-5 financings. Together with several family offices, the firm makes principal investments through Oleet Partners, its private equity affiliate.