Business Services Industry
US Plastic Lumber to sell unit - Big Deals
South Florida CEO, August, 2002
* US Plastic Lumber, a Boca Raton company that manufactures recycled plastic lumber products, has announced that it will sell one of its units -- Clean Earth -- to CEI Holding Corp. for more than $48 million ($45 million in cash plus a $3.5 million note). CEI Holding was recently formed by private equity investment groups Eos Partners and Bank of America Capital Investors.
Related Results
US Plastic Lumber said it will use the proceeds to reduce debt, and the deal, while subject to shareholder and regulatory approval, is expected to close this month.
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