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Headwaters Advised Provo Craft on Majority Equity Sale to BAML Capital Partners

March 2010

DENVER, CO - Headwaters MB announced that Provo Craft & Novelty, Inc. has sold a majority equity stake to BAML Capital Partners, the private equity arm of Bank of America Corporation.

“Congratulations to Jim Thornton and his team at Provo Craft.  We have been continually impressed with their tremendous record of financial and operational performance.  Their partnership with Sorenson Capital has been a productive one.” said Headwaters Co-Founder & CEO, Philip W. Seefried.  “The addition of BAML Capital Partners will propel this great company to further success.”

Headwaters co-advised with Robert W. Baird & Co on the transaction.