Versa has refinanced Bell and Howell
Lincoln International (“Lincoln”), a leading global mid-market investment bank, announced today the successful completion of a refinancing for Bell and Howell, LLC (“Bell & Howell” or the “Company”), a portfolio company of Versa Capital Management, LLC (“Versa”). Bell & Howell, which has undergone a successful transformation over the past 24 months, provides its customers with products and services that enrich communications and commerce in print, mail and parcels. Lincoln acted as exclusive financial advisor to Bell & Howell and privately placed a $25 million revolving credit facility provided by Bank of America, N.A. (“Bank of America”). The new financing provides the previously debt-free Bell & Howell with a long-term capital structure that will facilitate its continued growth.
As Bell & Howell’s financial advisor, Lincoln worked closely with Versa and Bell & Howell’s management team to structure, arrange and negotiate the financing. Ramesh Ratan, Bell & Howell’s CEO, remarked, “Our new credit facility with Bank of America provides us with the long-term working capital resources needed to invest in our business and continue our profitable growth. We remain focused on continuously innovating for our customers and providing opportunities for our employees.”
Gregory L. Segall, Bell & Howell Chairman and CEO of its controlling shareholder, Versa, commented, “We are very pleased with the outcome of the financing. By partnering with Lincoln, we were able to properly capitalize Bell & Howell, optimize the Company’s financial flexibility and create the liquidity needed to support its strategic initiatives and growth plans.”
About Bell and Howell, LLC
Bell and Howell, LLC is a trusted partner to its customers in their critical touch points with their end users. Bell & Howell’s customers include many of the world’s largest providers in banking, insurance, telecommunications, public utilities, postal, freight operators, governments and print and mail service bureaus. As the pioneer of production mail inserting and sorting systems, Bell & Howell has evolved its competencies in service, software and hardware technologies to enrich customer communications and commerce in print, mail and parcels and information infrastructure. Supporting these solutions is one of the largest technical service organizations in the industry across the U.S., Canada, the U.K. and Germany. Headquartered with manufacturing in Research Triangle Park, North Carolina, the company maintains engineering, sales and business presence in Wheeling, Illinois; Dallas, Texas; Allentown, Pennsylvania; Waterloo, Ontario; the U.K. and Germany. For additional information, please visit www.bellhowell.net.
About Versa Capital Management, LLC
Based in Philadelphia, Pennsylvania, Versa is a private equity investment firm with more than $1.4 billion of assets under management focused on control investments in special situations involving mid-market companies where value and performance growth can be achieved through enhanced operational and financial management. Versa’s portfolio includes retailers Avenue Stores and Vestis (Bob’s Stores, Eastern Mountain Sports and Sport Chalet); restaurants such as Black Angus Steakhouses; community newspapers under Civitas Media; and manufacturers that service a variety of industries. For additional information, please visit www.versa.com.
Meet Our Professionals
View More Transactions
Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.