Renovo Capital, LLC, through its Renwood Opportunities Fund, has acquired substantially all the operations of States Industries Inc., ending States’ Chapter 11 bankruptcy proceedings.

States successfully navigated through the Chapter 11 process in less than 90 days with the aid and support of Renovo Capital, meeting or exceeding the timeline objectives agreed to by the debtor, creditors and court in August of this year. Renovo acquired States senior debt facility and additionally provided Debtor-in-Possession financing during the pendency of the bankruptcy. The company will now be doing business as States Industries, LLC.

States manufactures hardwood panel products from domestic and imported face veneers and softwood inner plies. State’s products are used in kitchen cabinets, furniture, store fixtures, architectural interiors and other decorative applications. The company operates from 252,000 square feet of manufacturing space in Eugene Oregon, in the heart of the West Coast forest products industry and employs 255 people.

“This is certainly a great outcome for our customers, our vendors, and especially our 250+ employees. With the support of new ownership, we are prepared to reinforce our leadership position in the market with high quality innovative products and services.” said Mike Taylor, States Industries’ President and Chief Operating Officer.

States Industries, LLC is a subsidiary operated by Renovo Capital and Rosewood Private Investments. Renovo Capital is a private equity firm whose primary focus is on operating turnarounds, bankruptcy reorganizations, debt purchases and out-of-court restructurings for companies in the manufacturing, distribution and service industries. Rosewood Private Investments is the private equity arm of The Rosewood Corporation, a prominent family-owned company with diverse, worldwide operations and investments.

For Additional Information, Contact: Scott B. Lavie, Manager Renovo Capital: [email href = Scott.lavie@renovocap.com] Scott.lavie@renovocap.com[/email]