Lake County Press
“LAKE COUNTY PRESS, INC. (“LCP”) IS PLEASED TO ANNOUNCE A SUCCESSFUL REFINANCING IN THE BEGINNING OF 2014 THAT INCLUDES A CRITICAL MEZZANINE COMPONENT PROVIDED BY CAPX PARTNERS. CAPX PARTNERS WAS INSTRUMENTAL IN WORKING WITH THE SENIOR LENDER AND LCP TO ACHIEVE A CAPITAL STRUCTURE THAT WAS OPTIMAL FOR ALL. CAPX PARTNERS PROVED FLEXIBLE IN THEIR APPROACH AND WERE QUICK TO GRASP THE NATURE AND NEEDS OF OUR BUSINESS.”
Rob Hilliard, CFO, Lake County Press, Inc.
Lake County Press is a sheet fed commercial printer and a leader in the Midwestern market. LCP has enjoyed a strong reputation and brand which has enabled it to penetrate key markets. The company differentiates itself by being a forerunner in technology and print quality. LCP has evolved from just ink on paper to the integration of various mediums in order to deliver their client’s brand to the market. The Company benefits from a highly diverse group of clients, which includes many Fortune 500 corporations nationwide.
THE CAPX SOLUTION
LCP turned to the debt markets to strengthen its balance sheet and improve its capital structure. LCP’s new commercial bank relationship, also a CapX limited partner, recruited CapX to provide subordinated debt beneath their revolving line of credit and term loan. The ultimate goal was to provide LCP with a longer term and more flexible debt structure. CapX funded a $2.8M subordinated loan that was tailored to fit LCP’s future growth and liquidity needs. CapX looks forward to supporting LCP’s future goals.
“It was a pleasure getting to know the LCP management team and seeing their vision for the future. CapX also relished the opportunity to work with FirstMerit, a CapX limited partner, on creating a financing solution that was ideal for the Company’s future. CapX looks forward to a long-term financing relationship with both LCP and FirstMerit.” – Bryan Rozum, Vice President, CapX Partners