PNC Equity Partners, Pittsburgh, has acquired The Country Vintner Inc.
PNC Equity is the Pittsburgh region’s largest private equity firm and is part of PNC Financial Services Group Inc. (NYSE:PNC).
TCV, based in Ashland, Va., is the nation’s second-largest independent distributor of fine wines.
Terms of the deal were not disclosed. PNC Equity, which last year raised a $272 million fund, typically invests between $10 million to $30 million. Senior debt was provided by Bank of America Corp. and subordinated debt by BB&T Mezzanine Capital Partners.
