News

Wells Fargo confirms acquisition financing for CoBe Capital’s acquisition of business unit from Office Depot

June 22nd, 2009
AxiSource is a Canadian business-to-business office supplies distribution company.
AxiSource is a Canadian business-to-business office supplies distribution company.

New York, New York – CoBe Capital today announces a lending commitment from Wells Fargo Business Credit for the acquisition of Office Depot’s Canadian Business Solutions Division.

As announced on May 7, 2009, CoBe Capital has signed a 90 day exclusive letter of intent with Office Depot to acquire the capital shares in Office Depot’s Canadian Business Solutions Division

“This marks a significant step toward the completion of the acquisition from Office Depot,” said Neal Cohen, Founder and Managing Director at CoBe Capital.

Terms of the financing were not disclosed.

About CoBe Capital

CoBe Capital, a global private investment firm with a permanent capital base and operations in North America and Europe, delivers M&A solutions to meet the specific needs of corporate sellers looking to divest non-core operations. CoBe Capital owns and operates a diversified portfolio of companies that design, manufacture and market innovative products and services. Each of its portfolio companies strives to achieve long-term growth based on lean and continuous improvement business philosophies. CoBe Capital was founded by Neal Cohen in 1994. For more information on CoBe Capital, please visit cobecapital.com.

About Wells Fargo

Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage and consumer finance. Wells Fargo has $1.2 trillion in assets and more than 281,000 team members across our 80+ businesses. For more information on Wells Fargo, please visit wellsfargo.com.