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Article: MVC Capital Announces Investment in Vestal Manufacturing.

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Business Wire
Article date:
May 12, 2004
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Business Editors

PURCHASE, N.Y.--(BUSINESS WIRE)--May 12, 2004

MVC Capital (NYSE: MVC) today announced that the Fund has agreed to provide $1,000,000 in subordinated debt financing and $450,000 of equity financing to Vestal Manufacturing Enterprises, Inc. as part of Vestal's management-led buyout from its former parent, Walter Industries, Inc. Following the closing of the acquisition, MVC will nominate Michael Tokarz and Bruce Shewmaker to the company's five-member Board of Directors. The investment is being made in conjunction with a similar investment from Nebraska Heavy Industries, LLC.

Founded in 1946, Vestal Manufacturing is a leader in ...

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