Shamrock ups stake in NUCO2

By Lisa Kerner

Charlotte, N.C., Oct. 19 - NUCO2, Inc. shareholders led by Shamrock Activist Value Fund bought 182,814 shares of the company's stock between Sept. 18 and Oct. 18 for a total of $4,728,966, or an average price per share of $25.86.

The reporting persons own 4,728,966 shares, or 8.08%, of the Stuart, Fla., bulk carbon dioxide supplier, according to a schedule 13D filing with the Securities and Exchange Commission.

On Sept. 18, the reporting persons owned 1,009,078 shares, or 6.84%, of NUCO2, up from the 5.66% stake Shamrock reported on Aug. 6.

It was previously reported that on July 11, Shamrock asked the company to consider a $7.00-per-share special dividend, plus an annual $0.25-per-share dividend, believing that NUCO2's capital structure was "sub-optimal." The investor had a 4.3% stake in the company at the time. NUCO2 replied that its focus was the implementation of a new strategic growth plan that included a $50 million share repurchase program.

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