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January 9, 2019

Avante Capital Partners Supports Cornerstone Foodservice’s Acquisition of Astra Manufacturing

Los Angeles, CA (January 9, 2019) – Today, Avante Capital Partners, a women-owned private credit and structured equity fund, announced it has partnered with ShoreView Industries to support Cornerstone Foodservice Group’s acquisition of Astra Manufacturing, Inc., a designer and manufacturer of premium coffee equipment for both the commercial and home segments.  Avante provided mezzanine debt and equity converted from its original unitranche investment.  

The deal marks Cornerstone’s third recent addition to its portfolio which includes Spring USA, a leading manufacturer of induction cooking & warming equipment, and Lloyd Pans, an industry leader in the manufacturing of commercial grade baking, pizza, and restaurant equipment.

“We are pleased to join with ShoreView Industries to support Cornerstone’s latest acquisition to help its long-term growth,” said Ivelisse Simon, Managing Partner of Avante Capital Partners. 


About Avante Capital Partners                           .   

Avante Capital Partners is a woman-owned private credit and structured equity fund headquartered in Los Angeles.  Avante invests in high-quality, lower middle market businesses generating $3 million+ in cash flow in the form of unitranche debt, traditional mezzanine and minority equity.


About ShoreView Industries

Founded in 2002 in Minneapolis, Minnesota, ShoreView Industries manages three funds totaling $900 million. ShoreView has partnered with family or entrepreneurial-owned companies across many sectors, including engineered products, distribution, industrial services, business services, and niche consumer products.


About Cornerstone Foodservice Group

Cornerstone Foodservice Group is a family of leading and groundbreaking brands trusted by industry professionals worldwide for providing innovative, high quality products and creative business solutions.


Astra Manufacturing, Inc.

Since 1993, Astra has produced premium, professional espresso machines, steamers, grinders and accessories with the goal to exceed customer expectations every time. Designed with aerospace engineering and manufactured within the USA, these reliable and efficient machines provide gourmet coffee selections to a wide range of commercial and residential consumers.


About LloydPans®/ Lloyd Industries, LLC

LloydPans is an industry leading manufacturer of commercial grade baking, pizza, and restaurant equipment made in the USA. The company designs and manufactures commercial pizza pans and pizza tools, commercial bakeware, and commercial and consumer restaurant equipment in its 80,000-square foot facility in Spokane Valley, WA.


About Spring USA®

Spring USA is a food service industry leader, first to introduce countertop induction to the United States. Known for the innovation and design of reliable, durable and beautiful products, Spring USA specializes in induction cooking & warming equipment, buffetware, mobile cooking stations, and custom-built tables with hidden induction and cooling elements.

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