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Chamberlain Hrdlicka, led by Habeeb "Hobbs" Gnaim, Represented Pinnacle Plastics, Inc. with new Portfolio Investment from Main Street Capital Corporation

January 16, 2024

The investment will facilitate the growth recapitalization of Pinnacle Plastics

Chamberlain Hrdlicka’s Houston-based team, led by Habeeb ‘Hobbs’ Gnaim, represented Pinnacle Plastics, Inc. and Integrity Plastics, Inc. (together “Pinnacle”) with a new $43.2 million portfolio investment from Main Street Capital Corporation (Main Street). The investment will facilitate the growth recapitalization of Pinnacle, a manufacturer and distributor of commercial can liners, polyethylene bags and produce bags, and related products.

Main Street's investment includes a combination of first lien, senior secured term debt and a direct equity investment. Additionally, Main Street and its co-investor provided Pinnacle with a revolving line of credit to support the company's future growth initiatives and working capital needs.

From Chamberlain Hrdlicka, Umair Karowadia (Tax Planning & Business Transactions), Marianne Standley (Tax Planning & Business Transactions), Jack Najarian (Corporate), Matt Stirneman (Banking/Finance) and Greg Henson (Corporate) assisted with the transaction.  Further, Hancock Firm acted as the transaction advisor on the deal.

Gnaim, shareholder at Chamberlain Hrdlicka, serves as the head of the Tax Planning & Business Transactions group. He focuses his practice on tax and corporate matters and has significant experience in all aspects of structuring, negotiating, and implementing business acquisitions and dispositions, corporate reorganizations, mergers, conversions, recapitalizations, deferred recognition transactions, admissions of and providing equity incentives for management and key employees, as well as choice of entity considerations, and state tax planning. Known for a high volume of transactions year to year, Gnaim has built a reputation as a go-to tax and corporate counsel for middle-market transactions. A number of Gnaim’s deals have garnered recognition from industry organizations in 2023, including the Association for Corporate Growth (Houston) with the Deal of the Year Award in the Industrial Services – Corporate Strategic Acquisition category; Global M&A Network, with the Deal of the Year Award - Distressed M&A Deal, Mid-market category; as well as The M&A Advisor Awards, where two of Gnaim’s deals won Deal of the Year.

Chamberlain Hrdlicka’s Tax Planning & Business Transactions practice helps clients understand the byzantine world of tax law and utilizes that highly specialized tax knowledge to clients’ best advantage when doing business transactions.  The practice advises clients with transactions in order to maximize tax benefits - and avoid tax disasters. Whether the transactions are related to a business or involves a personal investment, the Tax Planning & Business Transactions team can help structure and carry out transactions in order to achieve the best corporate results under federal, state, local and international tax laws.