Lincoln International LLC represents CPAC, Inc., a portfolio company of Buckingham Capital Partners, in a $15.0 million refinancing
CHICAGO, IL March 31, 2010 – Lincoln International, a leading global mid-market investment bank, announced today the successful close of $15.0 million in total financing for CPAC, Inc. (“CPAC” or the “Company”), a leading provider of household and industrial cleaning products and branded and private label chemicals. The refinancing consisted of a $15.0 million Unitranche Facility provided by Victory Park Capital Advisors, LLC. The financing was used to repay the Company’s existing indebtedness.
Lincoln International acted as the exclusive financial advisor to the Company and privately placed the $15.0 million Unitranche Facility. Lincoln International worked closely with the Company’s financial sponsor, Buckingham Capital Partners (“Buckingham”) and CPAC’s management team on all aspects of the transaction, helping to structure, arrange and negotiate the financing. “By utilizing Lincoln’s financing relationships and expertise, we were able to close our refinancing quickly and efficiently. Timing was critical and Lincoln’s involvement enabled us to deliver a strong result for our limited partners while positioning the Company to execute on its near-term marketing initiatives,” said Shail Sheth, Managing Partner and Co-Founder of Buckingham.
Bob Horak, Managing Director at Lincoln, made the following comments about the transaction, “The completion of the CPAC refinancing marks our sixth transaction with Buckingham. We are especially proud of this long-term relationship and what it says about the value Lincoln provides to financial sponsors.”
About CPAC, Inc.
Founded in 1969, CPAC is a specialty chemicals company with operations in two primary business segments: Fuller Brands and CPAC Imaging. Based in Great Bend, Kansas, Fuller Brands develops, manufactures and markets approximately 1,600 branded and private label cleaning products with the majority of its sales derived from chemical products. The segment’s products include premium household and industrial cleaning chemicals, brushes, brooms, mops and personal care items. CPAC Imaging manufactures and distributes branded and private label chemicals for the color photographic, healthcare and graphic arts markets. In addition, this segment manufactures and sells related equipment, performs silver halide chemical refining services and distributes photographic paper and other consumables. More information about CPAC can be found at www.cpac.com.
About Buckingham Capital Partners
Based in New York, NY, Buckingham Capital Partners is a private investment firm specializing in leveraged buyouts of US-based, lower middle market industrial and manufacturing companies. Buckingham seeks to make control equity investments in companies through leveraged and management buyouts, industry consolidations, recapitalizations and growth financing transactions. Post acquisition, Buckingham looks to increase the productivity of its portfolio companies through operational improvements, and seeks to grow earnings by exploring untapped market opportunities and by making strategic add-on acquisitions. Buckingham’s Managing Partners have been investing in private equity since 1994 and have generated superior investment track records. These professionals are supported in their investment decisions by an Executive Board of seven industry veterans with substantial and diverse operating and industry expertise. More information about Buckingham can be found at www.buckinghamcapital.com.
About Lincoln International
Lincoln International specializes in merger and acquisition advisory services, private capital raising and restructuring advice on mid-market transactions. Lincoln International also provides fairness opinions, valuations and pension advisory services on a wide range of transaction sizes. With ten offices in Asia, Europe and North America, and strategic partnerships with leading institutions in China and 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 |
