PE Firm Hit With Noncompete Suit Over Marketing Co. Sale

Law360, Miami (August 12, 2013, 5:14 PM EDT) -- Boca Raton, Fla.-based direct-marketing firm Take 5 Solutions LLC and its parent company filed suit Thursday in Florida state court against private equity firm Kinderhook Industries LLC, several subsidiaries and two executives, claiming they violated noncompete and nondisparagement stipulations they agreed to when they sold Take 5.

Take 5's parent company, Bottleshock Holdings LLC, claims it is entitled to $1 million set-offs of a $4 million promissory note issued as part of the sale for each violation of an equity purchase agreement established in March 2012...
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