Transactions

the assets of U.S. Stick a division of Little Rapids Corporation have been acquired by Norse Dairy Systems, L.P. a portfolio company of Code, Hennessy & Simmons II, L.P. MERTZ ASSOCIATES acted as advisor to Little Rapids in divesting the division by designing a selling program, preparing offering materials, contacting potential purchasers, evaluating proposals and participating in negotiations.

• U.S. STICK, Rhinelander, Wisconsin, manufactures veneered wooden ice cream sticks, corn dog sticks and paint paddles. The division has a significant market position in its two main product areas accounting for approximately 30% of the ice cream stick market and 40% of the corn dog stick market. Sales are around $7 million.
   
• LITTLE RAPIDS CORPORATION, Green Bay, Wisconsin, is a privately held company with several operations that serve the specialty papers industry. One of its divisions manufactures a variety of paper products such as gowns, modesty drapes and exam table paper for the medical industry.
   
• NORSE DAIRY SYSTEMS, Columbus, Ohio, is a leading supplier of ice cream filling machinery, packaging (paper, plastic or plastic foam) and baked goods (cones) to the worldwide ice cream novelty industry. Norse is a platform company reporting approximately $65 million in sales and is owned by management and Code, Hennessy & Simmons.
   
• CODE, HENNESSY & SIMMONS, INC., Chicago, Illinois, is an investment firm managing private equity capital of over $585 million. Its investment strategy is to build a diversified portfolio of middle market companies in a variety of industries.