Harris Williams & Co. is pleased to announce the recapitalization of Blaschak Coal Corp. by Milestone Partners, company management and M&T Bank. The transaction closed April 27, 2009. Harris Williams & Co. acted as the exclusive advisor to Blaschak. The transaction was led by Jason Herzog from the firm's Richmond office and Patrick Hanraty from the firm's Philadelphia office.
Blaschak Coal Corp. (www.blaschakcoal.com), based in Mahanoy City, Pennsylvania, is a leading miner, preparer and marketer of high-quality anthracite coal. Anthracite coal, a specialty mineral, is the cleanest form of natural carbon and an environmentally friendly heating source that generates the greatest BTU rating per ton and produces the least smoke, ash and sulfur of all coal types. The company's diverse product offering, end market applications and customer base, are a direct result of Blaschak's ability to provide a reliable supply of high-quality anthracite coal and develop long-standing customer relationships.
Milestone Partners (www.milestonepartners.com) is a private equity firm that partners with management to invest in leveraged buyouts and recapitalizations of lower-middle market businesses that are successful niche-market leaders with high-margin products or services. Milestone's transactions typically provide liquidity to shareholders of privately owned businesses, facilitate the transition of ownership to key managers and allow management to capitalize on growth opportunities while maintaining the legacy of the founders. Milestone is now investing Milestone Partners III, a $240 million fund. |
