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New York, NY – 
capital markets-focused investment bank, announced today the successful refinancing
of von Drehle Corporation. Headquartered in Hickory, NC, von Drehle is one of
the United States’ largest privately held towel and tissue manufacturers serving
the away-from-home market. Lampert acted
as von Drehle’s exclusive financial advisor and privately placed an asset-based
million Revolver/First Lien term with a loan syndicate led by CIT Bank and a
combined Second Lien/Preferred Stock Investment by Morgan Stanley Credit
Partners and Comvest Credit Partners.
Proceeds were utilized to retire existing indebtedness, fund growth
capital expenditures and for general corporate purposes.
Lampert worked closely with senior management on all
aspects of the financing including structuring, marketing and negotiating the
financing. Randy Bergman, von Drehle’s
President and CEO, remarked, “The Lampert team did an excellent job preparing
us to enter the market, managing a highly-competitive process and ultimately securing
long-term financing partners. Lampert quickly introduced the Company to a broad
range of potential lenders and partners despite the inability to meet in
person. The new financing provides us with a more stable capital structure so
we can focus on delivering high-quality products and services to our customers
and continuing to grow the business.”
“The Lampert team was honored to have been selected by
the Company as it sought to access the institutional debt capital markets despite
the challenges arising from the COVID-19 pandemic. von Drehle is an exceptional company that possesses
a management team characterized by integrity, superior performance and extraordinary
capabilities,” said Randy Lampert, CEO of Lampert Debt Advisors. “We’re delighted to have been a member of
the team that brought this transaction to a successful conclusion.”
Von
Drehle Corporation
von Drehle is a leading vertically integrated
manufacturer and distributor of disposable towel and tissue products. von Drehle’s product breadth, award-winning
customer service, and national footprint have positioned it as a leader in the
away-from-home towel and tissue market. For more information, please visit www.vondrehle.com.
Lampert
Debt Advisors
Headquartered in New York City, Lampert Debt Advisors
specializes in private debt placements and restructurings and is uniquely
qualified to provide clients unmatched expertise, market insight and optimal
results. Since 2009, we have completed over
$3 billion in transactions, ranging in size from $50 million to $300 million,
across the industry spectrum. Lampert’s
principals have completed over $25 billion in financings over the course of
their careers. For more information, please visit www.lampertdebtadvisors.com.
Securities offered through Lampert Capital Markets, Inc.
Contact
Lampert
Debt Advisors
Randy
Lampert, President
914.282.0915
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