Lincoln International LLC represents Creekstone Farms Premium Beef, LLC, an affiliate of Sun Capital Partners, Inc., in a $36.5 million refinancing transaction
CHICAGO, IL, July 20, 2010 – Lincoln International, a leading global mid-market investment bank, announced today the successful completion of the refinancing of Creekstone Farms Premium Beef, LLC (“Creekstone” or the “Company”), an affiliate of Sun Capital Partners, Inc. Creekstone is a leading specialty producer and distributor of branded Black Angus beef products, widely viewed as the gold standard for premium beef.
Lincoln International acted as exclusive financial advisor to the Company and privately placed a $23.5 million Senior Secured Revolving Credit Facility and a $13.0 million Senior Secured Term Loan. Proceeds from the refinancing were used to repay outstanding debt and to finance the Company’s continued growth.
As the Company’s exclusive financial advisor, Lincoln International worked closely with Sun and Creekstone’s senior management team on all aspects of the transaction, helping to structure, arrange and negotiate the refinancing. Anthony Polazzi, Principal of Sun Capital, stated, “We were very pleased with the entire process, both in terms of end result as well as Lincoln’s attention to detail and continued focus from start to finish. Lincoln was able to introduce Sun and the Company to a new lender and delivered a structure that significantly improved upon our prior lending arrangement.”
Leon Trautwein, Creekstone’s Chief Financial Officer, noted, “Lincoln’s involvement in the refinancing process enabled the management team to continue focusing its efforts on Creekstone’s operations and customer relationships.”
Robert Horak, Managing Director in Lincoln International’s Debt Advisory Group, commented, “The Creekstone transaction is a good example of how outsourcing a financing process can add value, while saving critical time for management and the equity sponsor. We had a terrific experience working alongside Sun Capital and the Creekstone management team on this deal and look forward to continuing to deepen and expand our relationship with both Sun and Creekstone.”
About Creekstone Farms Premium Beef, LLC
Headquartered in Arkansas City, Kansas, Creekstone Farms Premium Beef, LLC is a leading specialty producer and distributor of branded Black Angus beef products. One of only a few branded, premium Black Angus beef programs certified by the United States Department of Agriculture (USDA), Creekstone sells an extensive line of branded, premium Black Angus products, including fresh beef, burgers and fully-cooked delicatessen meats to regional and specialty grocery stores, high-end restaurants and food distributors and wholesalers. For more information please visit www.creekstonefarms.com.
About Sun Capital Partners, Inc.
With approximately $8.0 billion of equity capital under management, Sun is a leading private investment form focused on leveraged buyouts, equity, debt and other investments in market-leading companies that can benefit from Sun’s in-house operating professionals and experience. Since the firm’s inception in 1995, Sun has invested in and managed more than 210 companies worldwide, with combined sales in excess of $40.0 billion and more than 170,000 employees. In addition to Creekstone, the firm’s investments have included numerous companies in the food and beverage industry, as well as companies in the paper and packaging, metals and mining, automotive after-market parts, consumer products, financial services, healthcare, media and communications, building products, telecommunications, technology, retailing and catalogs, manufacturing and industrial sectors. To learn more about Sun’s investment strategy and affiliates, please visit www.suncappart.com.
About Lincoln International
Lincoln International specializes in merger and acquisition advisory services, private capital raising, U.K. pensions advisory services and providing restructuring advice, fairness opinions and valuations for leading organizations involved in mid-market transactions. With offices in Amsterdam, 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.
| back |
