NEW YORK, Oct. 4, 2012 /PRNewswire-iReach/ — Seven Mile Capital Partners, LLC (“Seven Mile”), a leading middle-market private equity firm, today announced the sale of one of its portfolio companies, Waddington North America, Inc. (“WNA” or the “Company”) to Olympus Partners. Financial terms of the transaction were not disclosed.

Seven Mile became WNA’s majority stakeholder in 2011 when a majority of Seven Mile’s team spun-out of Citigroup to form a newly created private equity firm and, with the backing of AXA Private Equity, created its first fund: the Seven Mile Capital Partners Founders Fund. Citigroup, together with Norwest Equity Partners and WNA’s management team, had acquired the Company in 2007.

WNA is the leading North American designer, manufacturer and marketer of premium, rigid plastic foodservice disposables. Well known for its product innovation, WNA produces a broad portfolio of tableware, drinkware, servingware and metalized cutlery products targeting the premium, specialty and everyday segments. Over nearly four decades, WNA has built longstanding relationships with a diverse customer base spanning the catering, institutional, retail, restaurant and food processing sectors. WNA maintains operations in both the United States and in Canada.

Vince Fandozzi, Seven Mile’s Managing Partner commented: “It has been pleasure working closely with Mike Evans and the rest of the management team at WNA. The team has done a terrific job of guiding the Company through some turbulent times and has continued to demonstrate their ability to grow the Company in the face of a challenging business environment. We are pleased that they found a new strong partner in Olympus Partners to help them continue to grow this special company.”

Mike Evans, WNA’s CEO, said, “Seven Mile has partnered with WNA over the past couple of years and has taken a very active and supportive interest in the business. We are pleased to have been associated with Seven Mile and wish them every success in their future endeavors. We look forward to working with the team at Olympus to continue to grow our business and be the innovation leader in foodservice tableware.”

Barclays Capital Inc. and Citigroup Global Markets Inc. served as financial advisors to WNA. Kirkland & Ellis, LLP served as WNA’s legal advisors.

About Seven Mile

Seven Mile Capital Partners is a New York based private equity firm focused on investing in middle market buyouts as well as growth capital. The firm currently manages a portfolio of over 20 companies and targets opportunities in both individual companies as well as portfolios of companies. Seven Mile seeks either control or substantial influence of companies where it can work closely with management teams to drive superior returns over a long-term time horizon. In addition, Seven Mile also targets orphaned subsidiaries of larger companies in out-of-favor markets as well as companies that are undergoing financial or operational restructurings. Seven Mile has made investments across a variety of sectors and has extensive institutional knowledge in the consumer products, financial services, business outsourcing, renewable energy, cleantech, recycling, healthcare and technology industries. More information on Seven Mile Capital Partners can be found at www.sevenmilecp.com.

About WNA

WNA is a leading designer and manufacturer of an expansive line of upscale, plastic disposable tableware and packaging that combines style, quality and performance with first-class customer service. WNA products emulate the elegance and ambiance of fine china, crystal, and flatware but eliminate breakage worries and reduce labor costs associated with clean-up, washing, and transportation. In addition to a broad selection of stock products, WNA specializes in custom design packaging solutions that exceed customer expectations. WNA services caterers, casinos, supermarkets, party goods stores, on-line retailers, restaurants, hotels/motels/resorts, convenience stores, amusement parks, night clubs, bars, ice cream operators, warehouse stores, stadiums/arenas, country clubs and more. More information on WNA can be found at www.wna.biz.

Media Contact:

Seven Mile Capital Partners . Seven Mile Capital Partners, (212) 207-4945, info@sevenmilecp.com

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SOURCE Seven Mile Capital Partners