CHICAGO, IL / ACCESSWIRE / July 9, 2024 / O2 Sponsor Finance, a division of Old Second National Bank (NASDAQ:OSBC), today announced that it has provided senior secured credit facilities to support Encore Consumer Capital (“Encore”) in its acquisition of Chalet Desserts (“Chalet”).
Headquartered in Sacramento, California, Chalet is a specialty manufacturer of frozen bakery desserts and baked goods inclusions sold in supermarket and convenience store bakeries, as well as in the foodservice and ingredient end markets.
“We are very pleased to support Encore Consumer Capital’s acquisition of Chalet. Chalet is a category leader with extensive manufacturing capabilities and an impressive management team. We look forward to supporting Chalet’s growth,” said Nick O’Brien, Senior Vice President, O2 Sponsor Finance.
About Chalet Desserts: Chalet, based in Sacramento, California, is a specialty manufacturer of frozen bakery desserts and baked goods sold in supermarket and convenience store bakeries, as well as in foodservice and ingredient end markets. For more information, please visit: www.chaletdesserts.com.
About Encore Consumer Capital: Encore Consumer Capital is a private equity investment firm focused on the consumer products industry. The firm has raised over $900 million in committed capital and invested in over 40 companies in the sector. Encore’s current and prior investments include food and beverage manufacturers and marketers, pet products companies, personal care and beauty companies, and food distribution companies. The firm focuses on companies with annual revenues between $10 million and $150 million where Encore’s strong expertise in strategy development, brand marketing, supply chain optimization, and manufacturing and distribution expansion can drive performance. For more information, please visit: www.encoreconsumer.com.
About O2 Sponsor Finance:O2 Sponsor Finance is a national provider of cash flow-based loans to lower middle market companies with typical revenues between $10 million and $100 million and EBITDA between $2 million and $10 million. O2 Sponsor Finance focuses on supporting private equity sponsors, independent sponsors and family offices in the acquisition or recapitalization of lower middle market companies. For more information, please visit www.O2sponsorfinance.com.
About Old Second Bancorp (NASDAQ:), Inc.Old Second Bancorp, Inc., headquartered in Aurora, Illinois, is the bank holding company for Old Second National Bank, which celebrated its 150th year in business in 2021. Old Second’s common stock is listed on the NASDAQ Stock Market under the symbol “OSBC.” More information about Old Second can be found on the “Investor Relations” section of their website at www.oldsecond.com.
Old Second National Bank, Member FDIC, was recently named number one among the “Best Banks in Illinois 2021.” This was the second year in a row that customers selected the bank to receive this award. The awards are determined based on a survey of more than 25,000 U.S. customers who rate banks on overall satisfaction as well as trust, terms and conditions, branch services, digital services and financial advice.
As of March 31, 2024, Old Second has approximately $5.6 billion in assets, $4.6 billion in deposits and $4.0 billion in loans.
Contact:
Bradley S. Adams Executive Vice President, Chief Operating Officer and Chief Financial Officer (630) 906-5484
FOUNTAIN: Former Second Bancorp Inc.
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