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Meridian General Capital Exits From Its Investment in Silver Spur Corporation

LOS ANGELES--(BUSINESS WIRE)--Meridian General Capital announced that it has sold its portfolio company Silver Spur Corporation to funds managed by Kelso & Company. Based in New York, Kelso is one of the oldest and established firms in Private Equity.

Headquartered in Cerritos, CA, Silver Spur is a stocking distributor of glass and plastic packaging products serving a variety of end markets, with a specialization in glass bottles used in nutraceutical and pharmaceutical applications.

“The team at Silver Spur, at every level, contributed enormously to the success of the company. In the six years under our ownership, we had experienced significant changes in the global supply chain dynamics. Silver Spur proactively navigated through this changing environment and grew into a formidable and trusted supplier of rigid packaging products for its customers. I give much credit to the strength and resilience of the team at Silver Spur. I know they will continue to prosper and grow under the new ownership,” said Ravi Rao, Founder and Chairman of Meridian General.

Ravi Rao also served as Chairman and CEO of Silver Spur until exit.

Proskauer Rose LLP served as legal counsel for Silver Spur. Mesirow Financial acted as financial advisor to Silver Spur.

About Meridian General LLC

Meridian General Capital is a Los Angeles, CA based private equity group that invests in middle market companies and is focused on acquiring businesses that have a history of operating profits between $3M to $20M annually. The firm invests in industries that it has extensive operational expertise in such as Aviation, Aerospace & Defense, Technology, Packaging, Business Services, Distribution, Industrial Services, Specialty/Niche Manufacturing, Telecommunications, Travel and E-Commerce.

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Last Updated: 08-Jun-2021