M&A Deals of the Week

Kolb launches new M&A division
Brookfield-based Kolb+Co. SC Business Advisers/CPAs announced the formation of a new affiliate, Kolb+Co. Corporate Finance LLC.
The new company was formed as an expansion of Kolb+Co.’s merger and acquisition services to middle-market companies.
John Kielich, CPA, CVA, is the managing director of the new group. He has more than 30 years of experience in the manufacturing, financial services and public accounting industries. He will oversee Kolb+Co.’s merger and acquisition services, which will include strategic and operational planning; buy- and sell-side assistance including targeted acquisition searches and business sales; and due diligence reviews and integration planning and assistance.
Kolb+Co. provides integrated services and coordinated solutions to closely held businesses and their owners.

Plexus to recapitalize, re-purchase shares
The board of directors of Neenah-based Plexus Corp. recently approved a $150 million recapitalization of the company. The recapitalization program will allow Plexus to repurchase up to $200 million of its common stock, traded on the NASDAQ board under PLXS.
"This announcement reflects our ongoing commitment to our shareholders’ total return," stated Dean Foate, President and Chief Executive Officer. "We believe that repurchasing Plexus stock at current market prices is an attractive use of our capital with the potential to create significant shareholder value. We remain optimistic about achieving our long-term growth goals while delivering returns on invested capital in excess of our weighted average cost of capital. This recapitalization supports these objectives."
In connection with the new share repurchase program, Plexus entered into accelerated share repurchase agreements with Morgan Stanley & Co. Inc. to repurchase $100 million of its common stock.
Baird advised Illinois manufacturer that was acquired
Newell Rubbermaid recently signed a definitive agreement to acquire Technical Concepts Holdings, LLC, ("Technical Concepts") a leading global provider of innovative restroom hygiene systems for several high-growth segments of the away-from-home ("AFH") washroom category, for approximately $445 million. Technical Concepts’ products include touch-free and automated health, wellness and odor control solutions, as well as proprietary refills, which are a key component of recurring revenue.
Technical Concepts is headquartered in Mundelein, IL. Baird Investment Banking, a division of R.W. Baird & Co., served as sole financial advisor to Technical Concepts in the transaction, which is expected to close by the end of the second quarter of 2008.
Baird Private Equity to invest in Chinese small businesses
Baird Private Equity, the global private equity group affiliated with Milwaukee-based Robert W. Baird & Co. Inc., recently created Baird Capital Partners Asia (BCPA).
The new investment team is focused on providing growth equity capital to smaller, high-potential companies in China or with substantial operations and growth opportunities in greater China.
Chicago-based Baird Private Equity and its affiliates have raised and managed more than $2.4 billion in venture and buyout capital across the U.S. and European markets.
"We see an attractive number of investment opportunities in greater China, and BCPA’s investment strategy is a natural extension of our proven success in Asia," said Paul Carbone, director of Baird Private Equity. "As private equity has flowed into China, smaller high potential companies have been left behind. Few investors in the region focused on these size companies can offer the global operating resources and relationships that Baird can provide."
"Baird Capital Partners Asia is well-positioned to support smaller, high-growth companies and their management teams as they look to grow their businesses in Asia, Europe and the United States," said Huaming Gu, partner of Baird Capital Partners Asia. "BCPA is the ideal partner for companies in China that want access to our global footprint, financial resources and operating expertise."
Through offices in Beijing, Shanghai and Hong Kong, the team will seek growth equity investment opportunities that complement Baird Private Equity’s global operating resources and expertise in the business services, manufactured products and health care sectors.

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