Kohlberg Buys Hoffmaster

Kohlberg & Co. has agreed to buy Hoffmaster from Solo Cup Co., a portfolio company of Vestar Capital Partners. The deal is valued at $170 million, with leveraged financing committed by National City Bank and GE Antares. It is expected to close with 45 days. Hoffmaster makes specialty napkins, plastic placemats and other items for restaurants and hotels. Goldman Sachs advised Solo, which is minority-owned by Vestar. http://www.hoffmaster.com/