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As Continental Graphics Holdings was focusing on its core competencies of specialized technical information to the aviation industry and film services to the entertainment industry, it decided to consider a divestiture of Franklin Press.
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During the sale process, it was determined that a private investor that included management in the ongoing equity interest, offered a transaction at the highest value to Continental Graphics.
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The financing consisted of a revolving credit facility and term loan secured by the working capial assets and machinery and equipment, respectively. A separate real estate term loan was raised using Franklin’s property as security.
- The equity investment and financing was sufficient to provide ample availability under Franklin Press' revolver to pursue growth opportunities post closing.