TORONTO, June 11 /PRNewswire-FirstCall/ - Wellington Financial LP today announced that Wellington Financial Fund III portfolio company MTI Global Inc. (MTI:TSX) has sold its MTI PolyFab subsidiary to 3M of St. Paul, Minnesota (MMM:NYSE) for $25.5 million in cash.
In June 2008, Wellington Financial led a $7.0 million financing for MTI Global. MTI designs, develops and manufactures custom-engineered products using silicone and other cellular materials. MTI serves a variety of specialty markets focused on Aerospace and Fabricated Products.
Wellington Financial LP is currently managing a $450 million investment program via Wellington Financial Fund III, with offices in Toronto, Canada and Santa Monica, California. Since 2004, Wellington Financial LP has led or participated in more than $320 million in transactions, making it one of the most active funds of its kind in North America.
About Wellington Financial LP
Wellington Financial LP is a privately held specialty finance firm providing term, venture and amortizing loans up to $40 million. Wellington Financial LP is currently deploying a $450 million investment program via its third fund. The fund's clients vary in size and business model, but generally have current year revenue of approximately $5 million. Founded in 2000, Wellington Financial LP is managed by a partnership controlled by fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to Fund III. Limited partners include several of Canada's largest institutional investors, crown corporations, financial institutions and pension funds. Please visit the fund website at www.wellingtonfund.com, or the Wellington Financial team blog at www.wellingtonfund.com/blog.
SOURCE Wellington Financial LP