January 29, 2019 08:00 AM Eastern Standard Time
TREVOSE, Pa. & ANAHEIM, Calif.--( BUSINESS WIRE )--Oliver™ Healthcare Packaging, a leading supplier of sterile barrier      flexible packaging to the global healthcare market, today      announced the acquisition of CleanCut Technologies, a medical packaging      provider based in Anaheim, California. As a part of      this agreement, Oliver will acquire:
A full packaging product portfolio including patented clipless        dispensers for catheters & guidewires, mounting cards,        pouches, lids, cartons and shippers. Design and prototyping, 3D printing, tube flaring, pad        printing and contract packaging. A California-based facility with approximately 70,000 square feet of        space including ISO class 7 & class 8 cleanroom manufacturing,        warehousing and office space. CleanCut is FDA registered and  ISO      13485  certified. The acquisition was finalized on January 24, 2019. “We are thrilled to extend a warm welcome to the      entire CleanCut team,” said Mike Benevento, President & CEO of      Oliver Healthcare Packaging. “Both Oliver and CleanCut are exclusively      focused on medical packaging, an important point of differentiation      in the packaging industry, and one our      customers truly appreciate. With an impressive product portfolio, their      West coast location and an exceptional design team, this partnership      will deliver the technical expertise, customer      service and speed-to-market our customers need to succeed.”
“Oliver and CleanCut Technologies – it’s a partnership we      are all extremely proud to be a part of,” said Tim Bell, President      of CleanCut Technologies. “There is great collaboration between      our two companies, and we see this as an important part of our      collective evolution as a leading provider of sterile barrier packaging      to the global healthcare industry. We look forward to working together      to provide the exceptional service and support our customers need to      achieve their goals.”
ABOUT OLIVER™
Oliver™ Healthcare Packaging is a leading supplier of pouches, lidding,      roll stock, and mounting cards for the global healthcare industry. Our      packaging protects medical devices and pharmaceutical products      throughout the sterilization, shipment and storage processes. Headquartered in Grand Rapids, MI and with global manufacturing, Oliver      is ISO 13485 certified. www.oliverhcp.com
ABOUT CLEANCUT TECHNOLOGIES, LLC
CleanCut Technologies is an FDA QSR Registered and ISO 13485 Certified      one-stop source for medical device packaging company located in Anaheim,      California. Its products are manufactured in Class 7 (10,000) & Class 8      (100,000) certified environments with full traceability. Contacts

Oliver&#8482;&#160;Healthcare Packaging&#160;Acquires&#160;CleanCut&#160;Technologies&#160;to&#160;Enhance&#160;Product Portfolio and&#160;Speed-to-Market&#160;for&#160;Global&#160;Healthcare Industry

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CleanCut Technologies' 70,000 square foot facility, located in Anaheim, California (Photo: Business Wire)
A full packaging product portfolio including patented clipless        dispensers for catheters & guidewires, mounting cards,        pouches, lids, cartons and shippers. Design and prototyping, 3D printing, tube flaring, pad        printing and contract packaging. A California-based facility with approximately 70,000 square feet of        space including ISO class 7 & class 8 cleanroom manufacturing,        warehousing and office space. CleanCut is FDA registered and  ISO      13485  certified. The acquisition was finalized on January 24, 2019. “We are thrilled to extend a warm welcome to the      entire CleanCut team,” said Mike Benevento, President & CEO of      Oliver Healthcare Packaging. “Both Oliver and CleanCut are exclusively      focused on medical packaging, an important point of differentiation      in the packaging industry, and one our      customers truly appreciate. With an impressive product portfolio, their      West coast location and an exceptional design team, this partnership      will deliver the technical expertise, customer      service and speed-to-market our customers need to succeed.”
“Oliver and CleanCut Technologies – it’s a partnership we      are all extremely proud to be a part of,” said Tim Bell, President      of CleanCut Technologies. “There is great collaboration between      our two companies, and we see this as an important part of our      collective evolution as a leading provider of sterile barrier packaging      to the global healthcare industry. We look forward to working together      to provide the exceptional service and support our customers need to      achieve their goals.”
ABOUT OLIVER™
Oliver™ Healthcare Packaging is a leading supplier of pouches, lidding,      roll stock, and mounting cards for the global healthcare industry. Our      packaging protects medical devices and pharmaceutical products      throughout the sterilization, shipment and storage processes. Headquartered in Grand Rapids, MI and with global manufacturing, Oliver      is ISO 13485 certified. www.oliverhcp.com
ABOUT CLEANCUT TECHNOLOGIES, LLC
CleanCut Technologies is an FDA QSR Registered and ISO 13485 Certified      one-stop source for medical device packaging company located in Anaheim, California. Its products are manufactured in Class 7 (10,000) & Class 8      (100,000) certified environments with full traceability. View source version on businesswire.com: https://www.businesswire.com/news/home/20190129005277/en/
Katie Scharff | 215.989.1320 | kscharff@oliverhcp.com

OliverÂHealthcare PackagingÂAcquiresÂCleanCutÂTechnologiesÂtoÂEnhanceÂProduct Portfolio andÂSpeedtoMarketÂforÂGlobalÂHealthcare Industry

Oliver™ Healthcare Packaging Acquires CleanCut Technologies to Enhance Product Portfolio and Speed-to-Market for Global Healthcare Industry

CleanCut Technologies to exhibit medical device packaging solutions at MD&M West 2018
CleanCut Technologies is set exhibit a range of medical device packaging products and services at this year’s MD&M West show in the US. The event will take place between 6 and 8 February in Anaheim, California. At the event, the company will exhibit various products such as clipless catheter and guidewire dispenser, HDPE pouch cards, pouches and lids, as well as cartons and shippers. CleanCut will also showcase its services, including free design and prototyping, 3D printing, pad printing, contract packaging services and tube flaring. The company’s clipless dispensers feature a sleek, slim and symmetrical design, which allows to retain a device during shipping, storage and ease of use during surgical procedures.. The dispense material is said to be pre-qualified for biocompatibility using HDPE and PE tubing. CleanCut produces tubing in various sizes and lengths to accommodate any guidewire or catheter size and is thermally bonded for security without clips or adhesives. The firm also produces die-cut high density polyethylene (HDPE) pouch cards, which safely retain medical device in a pouch to protect from damage and contamination. CleanCut also manufactures Vault packaging system that aggregates thermoformed tray with HDPE pouch cards. Vault packaging system, which is an alternative to pouch-style packaging, protects and retains medical devices. In addition, the company manufactures precisely sized SBS shelf cartons and corrugated sterilization master cartons for end-to-end packaging applications. The company provides the cartons in plain form, as well as with custom printed graphics and logos to promote brand. Share:
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CleanCut Technologies to exhibit medical device packaging solutions at MD&M West 2018

Acquired

CleanCut Technologies is a one-stop source for medical device packaging design and manufacturing. The company offers a complete product packaging portfolio to safely and securely retain and protect devices.

CleanCut Technologies

Oliver Healthcare Packaging

By Angela Sormani
Prospect Capital Corporation and other third-party shareholders have executed a stock purchase agreement to sell their ownership interests in NRG Manufacturing, a manufacturer of oilfield equipment. Prospect expects to collect approximately $100 million in cash in the March 2012 quarter related to the sale of NRG. Prospect expects to realize a 59% annualized internal rate of return on the investment. PRESS RELEASE
Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”) announced today that Prospect and other third-party shareholders have executed a stock purchase agreement to sell their ownership interests in NRG Manufacturing Inc. (“NRG”), a leading manufacturer of oilfield equipment. The transaction is subject to regulatory approval and is expected to close within the next 30 days. Such closing would also result in full repayment of Prospect’s loan to NRG. Prospect expects to collect approximately $100 million in cash in the March 2012 quarter related to the sale of NRG. This $100 million would consist of approximately $30 million of investment income in the form of prepayment premium and structuring fee, with the remaining approximately $70 million related to debt repayment and equity proceeds. Additional amounts are expected to be escrowed for potential collection in future periods, resulting in potential incremental post-closing proceeds to Prospect of approximately $14 million. As a result, Prospect would receive a total of up to $114 million from the sale of NRG. Prospect initially invested approximately $12 million of debt and equity in September 2006 to help finance the acquisition of NRG. Including all cash flows over the life of the investment, but not including escrowed amounts, Prospect expects to realize at closing on its combined debt and equity investment a 59% annualized internal rate of return. With the expected sale of NRG, Prospect estimates it will have generated cumulative net investment income in excess of cumulative distributions to shareholders for both the current August 2012 tax year as well as since Prospect’s inception. “Coming on the heels of the sale of Gas Solutions by our Energy Solutions portfolio company, Prospect’s sale of NRG adds another valuable realization to the Prospect Capital track record,” said M. Grier Eliasek, President of Prospect. “Our team is hard at work to invest our substantial liquidity. With our more than $1 billion of new originations in calendar year 2011, we have significant capability to invest such liquidity.”
“We applaud the managers of NRG, who have built the company into a premier supplier of mission-critical oilfield equipment,” said Bart J. deBie, a Managing Director of Prospect Capital Management. “Prospect is actively seeking new control and non-control investments across all industries.”
RBC Capital Markets is acting as financial advisor to NRG for the sale. Separately, Prospect has provided $18.3 million of secured second-lien financing to a financial services processing company purchased by a leading private equity sponsor. Prospect has also invested $34.4 million in Class D senior secured notes and Class E subordinated notes for CIFC Funding 2011-I, Ltd., with third party first loss capital underneath Prospect’s position. ABOUT PROSPECT CAPITAL CORPORATION
Prospect Capital Corporation is a closed-end investment company that lends to and invests in private and microcap public businesses. Our investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. We have elected to be treated as a business development company under the Investment Company Act of 1940 (“1940 Act”). We are required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. We have elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. Failure to comply with any of the laws and regulations that apply to us could have an adverse effect on us and our shareholders. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under our control, and that we may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from these estimates and projections of the future. Such statements speak only as of the time when made, and we undertake no obligation to update any such statement now or in the future. © 2015 Buyouts Insider / Argosy Group LLC


Prospect Sells NRG Stake

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Production, Drilling & SubseaPower GenerationVessels & Packaging for Water Filtration, Separation & Processing, Compression & CoolingUL, DOT, VesselsSafety & Quality ControlField Installation & Repair

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