LBC Credit Partners Provides $15,000,000 Senior Secured Term Loan to The Berry Company
PHILADELPHIA, Sept. 24, 2013 /PRNewswire/ -- LBC Credit Partners ("LBC"), a leading provider of financing solutions to middle market companies, announced the completion of a $15.0 million senior secured term loan to support the recapitalization of The Berry Company ("Berry" or the "Company"). LBC was Agent and Sole Lender for the facility which was provided in conjunction with an equity investment from the Company's shareholders. The credit facility was used to refinance Berry's existing debt and to support the Company's future growth strategy.
The Berry Company, LLC, is a leading provider of local online, search, video and print solutions to small-and medium-size businesses across the nation. Its local leads experts help approximately 150,000 businesses in 41 states market their businesses to local consumers. Since its founding more than 100 years ago, The Berry Company has offered exceptional service, local market expertise and a strong portfolio of local advertising solutions.
About LBC Credit Partners
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured and mezzanine debt and equity co-investments supporting sponsored and non-sponsored transactions. With over $1.3 billion of committed capital, LBC has made investments in companies located throughout North America across a wide range of industries and is committed to a long-term approach to debt investing. Headquartered in Philadelphia, LBC has additional offices in New York City and Chicago.
To learn more about LBC Credit Partners, visit www.lbccredit.com.
Information as of September 2013.
Phone: (610) 631-5702
SOURCE LBC Credit Partners