Boston, MA -- (SBWire) -- 02/17/2011 -- C.W. Downer & Co., a leading global middle-market investment bank, is pleased to announce that Plantation Products, Inc., has been sold to RFE Investment Partners. The deal closed on December 17, 2010 and the terms of the transaction were not disclosed. RFE partnered with Weatherly Group on the transaction.

Based in Norton, MA, Plantation Products is a leading supplier and merchandiser of flower & vegetable seed packets, wildflowers, and related seed starting products. Joseph Raffaele established Plantation Products in 1980 and expanded the company through the development of new products and selected acquisitions. The company currently lists over 700 seed varieties in its product line which are sold through leading national lawn and garden centers, home improvement chains, discount retailers, grocery stores and mass retailers.

“We are very pleased to have assisted Joe Raffaele with this transaction,” said Paul Colone, Managing Director with C.W. Downer & Co. “Joe built Plantation Products into a highly successful business and this new partnership with RFE and Weatherly Group provides a fitting reward for his life’s work,” Colone continued. “The new investors have a successful track record in the lawn & garden industry that should bring value to Plantation Products. I wish them all continued success in the future.”

Webster Bank provided debt financing and Triangle Capital Corporation provided debt & equity financing to support the transaction.

The C.W. Downer & Co. transaction team responsible for the divestiture includes Paul Colone (Managing Director & Partner, Boston) and David Waldstein (Associate, Boston). Choate Hall & Stewart LLP acted as legal advisor to Mr. Raffaele and Hodgson Russ LLP represented the buyers.

About C.W. Downer & Co.
C.W. Downer & Co. is an independent, global investment bank offering middle-market clients a high level of personal attention coupled with more than 30 years of international execution experience. We provide insight, not just information. We generate value, not just transactions. With seven fully integrated offices on four continents, we consistently identify the most appropriate strategic buyer and uncover “hidden” acquisition targets. C.W. Downer & Co. delivers the reach of a bulge-bracket investment bank with the senior level focus of a boutique. For more information, visit http://www.cwdowner.com.

About RFE Investment Partners
RFE, founded in 1979, is a private equity fund dedicated to pursuing management buyout and ownership transition opportunities with entity values of less than $100 million. RFE’s investments are concentrated in the three broad industry sectors: niche manufacturing, business services and healthcare services. RFE’s goal is to partner with market leading companies with an existing CEO that has the experience, drive and vision to more than double the size of the Company over our investment period.

About Triangle Capital Corporation
Triangle Capital Corporation is a publicly traded, internally managed business development company (“BDC”) that provides customized financing solutions for lower middle market companies located throughout the United States.

About Webster Bank
Webster Financial Corporation is the holding company for Webster Bank, National Association. With $17.8 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust and investment services through 181 banking offices, 497 ATMs, mobile banking, the Customer Care Center, and the Internet. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation, and the equipment finance firm Webster Capital Finance, and provides health savings account, trustee and administrative services through HSA Bank, a division of Webster Bank. Member FDIC and equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit Webster's website at http://www.websterbank.com.