Lincoln Partners Represents The Strive Group on a $41.0 million Refinancing
Chicago, IL The Strive Group, a leading designer, manufacturer and distributor of point-of-purchase displays for Fortune 500 companies, announced that it had successfully closed on $41.0 million in new loan facilities as of April 29,2005. The new credit arrangements include $26.0 million in Senior Credit Facilities provided by FB Commercial Finance, and $15.0 million of Junior Secured Term Loans provided by Contrarian Capital Management. Proceeds from the financing were used to consolidate The Strive Groups ownership back to its founders, repay existing indebtedness and for general working capital uses.
Lincoln Partners acted as exclusive financial advisor to The Strive Group and arranged the private placement of the $41.0 million in securities.
Jeff Sharfstein, Chief Executive Officer of the Strive Group stated: We are pleased that this refinancing has allowed us to consolidate the ownership and operations of The Strive Group of companies. This will allow us to operate more efficiently and to exploit our core competencies in the marketplace. We would also like to express our appreciation to our business partners whose patience and support made this refinancing possible.
About The Strive Group
The Strive Group is a premier single-source company for product merchandising, serving Fortune 500 consumer packaged goods and personal care companies. Strive offers companies an end-to-end solution to their merchandising needs by supplying the complete concept development, design, manufacture, fulfillment, warehousing and distribution of permanent and temporary content-related point-of-purchase displays. Strives displays can be found in thousands of retail stores including supermarkets, big box retailers, national and regional department stores and other local retail locations. Through its vertically integrated business model, The Strive Group is able to significantly reduce the dollar and time investment that brand marketers must make to execute their merchandising display initiatives, while maintaining the highest standards of quality in the industry. The Strive Group is headquartered in Chicago, IL, operates out of five facilities located in Hodgkins IL, Rock Island IL, Pontoon Beach IL and Bloomfield NJ, and with design and sales offices in other major metropolitan areas.
About Lincoln Partners
Lincoln Partners is an investment bank specializing in mergers & acquisition services, and private capital raising. Lincoln Partners focuses on select industries including automotive, aerospace, building products, business services, chemicals, consumer products, engineered products, food products, electronics, and transportation. Headquartered in Chicago, Lincoln Partners is one of the strongest middle market M&A advisors in North America. The firms clients include major publicly traded companies, well-respected private equity firms and prominent entrepreneurial businesses. By committing hands-on senior banker attention, in-depth industry expertise and international resources to every transaction, Lincoln Partners produces outstanding results for our clients.
