Palladium Pays $58M Dividend After Recapping Portfolio Cos.

Law360, New York (July 25, 2013, 2:47 PM EDT) -- New York private equity firm Palladium Equity Partners LLC has recapitalized two portfolio companies, allowing it to pay a $58 million dividend to investors in its third fund while retaining majority ownership in both companies, the Hispanic community-focused firm said Thursday.

Palladium recapitalized ABRA Auto Body & Glass, a vehicle damage repair services provider, and canned food company Teasdale Quality Foods Inc. The moves allowed Palladium to return $24 million in capital from the ABRA recapitalization and $34 million from the Teasdale investment.

Palladium managing member...
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