201719 Dec

IWCO Direct Is Acquired in $476M All-Cash Deal

Summary

Funding for the acquisition of IWCO Direct was provided through cash and debt financing provided by Cerberus Business Finance, as the administrative and collateral agent, and consists of a term loan in the principal amount of $393 million and up to $25 million in borrowing capability under a revolving credit facility. The company maintained a number of Internet ventures during its history, Wikipedia reports, including 1stUp.com, AdForce, AltaVista, BookLink, iCast, NaviSite, PowWow chat instant messenger, RagingBull.com and Yesmail. "We add a market leader with industry-leading solutions, a client base consisting of Fortune 500 companies, and significant opportunities to drive both top- and bottom-line results. The complete 2017 Printing Impressions 400 list of the largest printers in the U.S. and Canada ranked by annual sales can be accessed by clicking here. This illustrates another example of private equitys interest in the printing industry, especially in strong growth markets like direct mail and content management services.

Source: Piworld

Funding

$418M
Amount
Dec 19 2017
Date
-
Investor
IWCO Direct
Company

Classifications

Companies