Indianapolis — (BUSINESS WIRE) — E&A Industries, a privately held company headquartered in
Indianapolis, today announced the sale of Gilchrist & Soames to San Francisco based private equity
group Swander Pace Capital for an undisclosed amount. Allied Capital Corp (NYSE: ALD) provided
$51 million in senior debt to support the Swander Pace buyout.
E&A Industries acquired Gilchrist & Soames in 1998 as a small regional company selling primarily to
New England area upscale inns and B&B’s. Gilchrist & Soames now is a leading global purveyor of
cosmetic-grade toiletry collections for world-class hotels and exclusive resorts with operations and
personnel in North America, United Kingdom, Europe, the Middle East, and Australia. Specializing in
servicing the luxury market, Gilchrist & Soames’ products are in discerning properties throughout the
world such as Mandarin Oriental Hotels, The Peninsula Hotels, and a majority of the Las Vegas strip
hotels.
Founded in 1977, E&A Industries is an acquirer of first generation companies and seeks long-term
capital appreciation through disciplined management and focused sales and marketing.
Founded in 1996, Swander Pace Capital is focused on private equity investments in middle market
consumer products companies across a wide range of consumer sectors. SPC manages more than $600
million in equity capital and has invested in more than 25 companies with aggregate revenues in excess
of $2 billion.
Allied Capital Corporation is a leading business development company (BDC) in the U.S. that invests
in private debt and equity capital in middle market businesses nationwide. Founded in 1958 and
operating as a public company since 1960, Allied Capital has paid consistent or increasing regular,
quarterly cash dividends to shareholders since 1963.