Omega Polymer Technologies Inc. Finds Buyer in Resilience Capital Partners

Sep 21, 2006, 01:00 ET from Resilience Capital Partners

    CLEVELAND, Sept. 21 /PRNewswire/ -- Resilience Capital Partners
 (, a Cleveland-based private equity firm, today
 signed a definitive purchase agreement to acquire substantially all the
 assets of Omega Polymer Technologies Inc. headquartered in Aurora, Ohio
 subject to court approval. Omega listed 225 employees when it filed for
 bankruptcy court protection citing recent raw material price increases and
 high operating costs.
     "There is no question in our minds that with our significant equity
 investment and proper execution Omega can stem its losses, quickly be
 stabilized and eventually turned around. In most businesses today you are
 competing with the world and there are some tough competitors out there. It
 is clear that in the coming years many companies will find themselves in a
 similar situation as Omega of having to manage aggressively and find new
 investment capital in order to survive" said Steven Rosen, a Managing
 Partner of Resilience Capital.
     Omega has been in a turnaround situation for the several months leading
 up to its bankruptcy filing. "Omega is fortunate to have dedicated
 employees and customers and we are very much looking forward to working
 with them," added Bassem Mansour, a Managing Partner at Resilience Capital.
     About Resilience Capital Partners
     Resilience Capital Partners is a private equity firm based in
 Cleveland, Ohio focused on investing in underperforming and turnaround
 situations. Resilience's investment strategy is to acquire lower middle
 market companies that have solid fundamental business prospects, but have
 suffered from a cyclical industry downturn, are under-capitalized, or have
 less than adequate management resources. Resilience typically acquires
 companies with revenues of $25 million to $250 million. Resilience manages
 two private equity funds with capital under management of over $75 million.
 Since its inception in 2001, Resilience has acquired nine companies with
 revenues in excess of $500 million.

SOURCE Resilience Capital Partners