01/29/2014

FNB Capital Partners and Jim Rudolph Announce Acquisition of Uncle Charley's Sausage Company

FNBCP Acquires Uncle Charley's Sausage Company

Pittsburgh, Pennsylvania - FNBCP is pleased to announce the acquisition of Uncle Charley’s Sausage Company (“Uncle Charley’s”).  FNBCP partnered with a group of local investors including Jim Rudolph and Len Caric to provide both a mezzanine debt and equity investment.  Located in Vandergrift, PA, Uncle Charley’s produces and distributes gourmet sausage and meat products to retail markets throughout six states, including Pennsylvania, West Virginia, Ohio, and Maryland.  The investors plan to increase funding to expand the business while keeping its unique brand value, leadership, Vandergrift-based manufacturing, and employees intact.  

The acquisition of Uncle Charley’s by both partners keeps the ownership of the company local with support from investors who are dedicated to the region and the brand. “While we have plans to substantially grow the business,” explained Stephen Gurgovits Jr, managing partner at F.N.B. Capital Partners, “the priority is to maintain the integrity of the brand and product, while continuing to enhance relationships with our business partners and consumers.”

Uncle Charley’s will operate under the leadership of Len Caric, who will serve as the standing President and CEO, with Jim Rudolph serving as the company’s chairman.  Jim Rudolph is a distinguished industry veteran and serial entrepreneur with extensive operational and executive management experience.  He is the former Chairman and CEO of the 550+ unit Rita’s Italian Ice Franchise Company, and the former President and Founder of the award-winning 46-unit Wendy’s of Greater Pittsburgh franchisee group.  Jim has been a successful entrepreneur and investor in the region for over 40 years.
 
About F.N.B. Capital Partners, L.P.
F.N.B. Capital Partners, L.P. is a pooled fund of committed capital licensed by the Small Business Administration ("SBA") as an SBIC. FNBCP, headquartered in Pittsburgh, Pennsylvania, invests $3 million to $10 million per transaction.  FNBCP specializes in providing mezzanine debt, subordinated notes, private equity and other types of financial capital to small and medium size commercial enterprises for the purposes of recapitalizations, buyouts, generational transitions, mergers and acquisitions and other growth capital.  For more information, please visit www.fnbcp.com.
 
About Tecum Capital Management, Inc.
Tecum Capital Management, Inc. ("Tecum") is a private investment firm and management company for F.N.B. Capital Partners, L.P.  Tecum, based in Pittsburgh, Pennsylvania, oversees a pool of committed capital focused on mezzanine debt, subordinated notes, private equity and other types of financial capital to small and medium sized commercial enterprises.  The company is focused on providing financing for recapitalizations, buyouts, generational transitions, mergers and acquisitions and other growth capital needs. See www.tecum.com.