Lincoln International represents Buckingham Capital Partners in the private placement of senior and junior credit facilities used to finance the acquisition of AD Subsidiary, LLC, (formerly d/b/a as Custom Automation Equipment Division of Remmele Engineering, Inc.)
CHICAGO, IL, August 12, 2008 – Lincoln International, a global mid-market investment bank, announced the private placement of $6.5 million in senior credit facilities and $9.8 million in junior capital used to finance the acquisition of AD Subsidiary, LLC, formerly doing business as the Custom Automation Equipment Division of Remmele Engineering, (“AD”) by Buckingham Capital Partners II, L.P.(“Buckingham”), a New York-based private equity firm. AD is a leading designer and manufacturer of complex custom-ordered automation equipment used in manufacturing processes, primarily sold to the life sciences, healthcare and medical devices industries. Lincoln International acted as the exclusive financial advisor to Buckingham, and worked closely with Buckingham’s principals, the senior management of Remmele and lenders to structure a favorable financing package for the borrower.
Albert Naggar, Managing Partner of Buckingham, said, “Lincoln International ran an expansive and thorough process to identify the best lenders for this business, and provide the incremental bench-strength we needed to complete the acquisition at a time when capital has become scarcer. Lincoln International’s relationships and expertise were instrumental in navigating through a difficult credit environment where cash flow lending for smaller businesses is difficult to find and Lincoln was important in every stage of the transaction, from identifying lenders to closing.”
About AD Subsidiary, LLC
Headquartered in St. Paul, MN, and employing over 100 people, AD is a premium provider of development, design, build and support services for custom automated machinery used in manufacturing processes. AD’s impressive client base consists primarily of major manufacturers who are product and process innovators with a need for sophisticated custom equipment built to demanding performance and reliability standards, and involving discrete assembly, web processing and/or packaging and filling. Over its 60 year history, AD’s ability to solve its clients’ most complex problems has led to longstanding relationships with a long list of blue chip customers which date back more than 30 years. AD is currently in the process of finalizing a new commercial name.
About Buckingham Capital Partners
Buckingham Capital Partners is a New York-based private equity firm that has a strong track record of investing in established, middle-market companies with operations in North America. Buckingham’s principals have worked together for more than 13 years and have demonstrated an exceptional investment track record. The team brings a broad and complementary array of transactional, legal, financial, and operating skills through its investment professionals, operating partners and executive board members.
About Lincoln International
Lincoln International specializes in merger and acquisition services, private capital raising, UK pension advisory services and providing fairness opinions and valuations for leading organizations involved in mid-market transactions. With offices in Chicago, Frankfurt, London, Los Angeles, Madrid, New York, Paris, Tokyo and Vienna, and strategic partnerships with China Everbright in China and ICICI Securities, Inc. in India, Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com
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