The PrivateBank provided a credit facility to Custom Made Meals and affiliate Custom Corned Beef as part of the acquisition by affiliates of New Water Capital Partners.
Custom Made Meals and Custom Corned Beef, based in Denver, are purveyors of value-added, oven-ready and cooked, seasoned meats sold through national and regional grocery stores. The company is a portfolio company of New Water Capital Partners.
Bruce Denby, co-head of Asset-Based Lending, said, “Custom has done a tremendous job carving out a niche with a quality product in the grocery store segment. They are clearly poised for strong growth and we look forward to our role as a financial partner to support their objectives.”
New Water Capital Partner Jason Neimark, added, “The PrivateBank did a great job, taking a practical approach to the deal and documentation.”
New Water Capital is a private equity firm focused on lower-middle market companies in transition, in the consumer, retail and industrial manufacturing and services sectors, with revenues of $30 million to $300 million.