Conso Trims Goes Private
March 14, 2000
Union, S.C. Conso International Corp., a publicly traded company, has been taken private by J. Cary Findlay, Chairman, President and CEO.
Conso had sales of $120 million in 1999 and is considered the largest producer of decorative trimming in the world.
In March, Conso common stock shareholders were offered $9 in cash for each share they owned. The financing was arranged through Citicorp. Venture Corp., now one of the partners in ownership of Conso. The other new owners are J. Cary Findlay and other members of management, who control over 50 percent of the company.
Two years ago, the company traded shares at $16 a share but lately, the shares have been trading at $5 each.
Conso had sales of $120 million in 1999 and is considered the largest producer of decorative trimming in the world.
In March, Conso common stock shareholders were offered $9 in cash for each share they owned. The financing was arranged through Citicorp. Venture Corp., now one of the partners in ownership of Conso. The other new owners are J. Cary Findlay and other members of management, who control over 50 percent of the company.
Two years ago, the company traded shares at $16 a share but lately, the shares have been trading at $5 each.
