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Praesidian Capital successfully exits investment in CODi, Inc

Praesidian Capital, a provider of mezzanine capital for small and mid-sized companies, has successfully exited its investment in CODi, Inc, a manufacturer and supplier of laptop bags and cases, mobile security devices and other IT accessories to major corporations.

In 2006, Praesidian provided USD5 million of subordinated debt financing for the recapitalization of CODi, Inc led by Pennsylvania-based private equity fund Milestone Partners and management. Praesidian exited its investment when CODi recently obtained financing from new senior and mezzanine debt providers.

“We are pleased to have supported CODi during this important time in its growth and development,” says Neil Marks at Praesidian. “As a profitable, middle-market company with a talented management team and strong equity partner, CODi is just the type of company that we target for mezzanine financing. We enjoyed working with Milestone Partners and the CODi team to facilitate the success of the company while achieving attractive returns for our investors.”

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