M.H. Zeigler & Sons, LLC
M.H. Zeigler & Sons, LLC, is the country's largest manufacturer and distributor of refrigerated apple cider and cider blends sold primarily through the grocery channel. The company has achieved consistent growth in recent years by broadening its distribution outside its traditional northeastern stronghold and by introducing Zeigler’s brand lemonades and iced teas. Zeigler’s delivers the majority of its products on its own fleet of refrigerated trucks.
In partnership with management, Clearview acquired 100% of the company from its parent, Ultimate Juice Company, which is a portfolio company of North Castle Partners. To provide additional incentive for management, Clearview created an option plan to provide management with the opportunity to acquire a larger stake in the company. The transaction, which was completed on July 11, 2003, was financed with equity from Clearview Capital Equity Fund II, with mezzanine debt from New Canaan Funding and Brookside Pecks Capital Partners, and with a senior debt facility provided by LaSalle Business Credit, Inc.