PHILADELPHIA, Pa., Oct. 15, 2015 — Versa Capital Management, LLC (“Versa”), a private equity firm focused on control investments in special situations, announced today that its portfolio company Bell and Howell, LLC has secured a $25 million revolving ABL credit facility from Bank of America, N.A. The new financing provides the previously debt free Bell and Howell with a long-term capital structure that will facilitate its continued profitable growth. Bell and Howell, which has undergone a successful transformation over the past 24 months, provides customers globally with products and services that enrich communications and commerce in print, mail and parcels, and information infrastructure.
“I am pleased with the progress Bell and Howell has made over the last two years, including the successful spinoff and recapitalization of our BCC Software division in 2014,” said Ramesh Ratan, Bell and Howell CEO. “Our new credit facility with Bank of America provides us with the long-term working capital resources needed to invest in our business and continue our profitable growth. We remain focused on continuously innovating for our customers and providing opportunities for our employees. We look forward to continued success in partnership with Versa.”
“Today’s financing underscores the success of Bell and Howell’s renewal and promising future,” said Gregory L. Segall, Bell and Howell Chairman and CEO of its controlling shareholder Versa. “Under the leadership of Ramesh Ratan, as well as COO Larry Blue and CFO Arthur Bergens and the rest of the team, Bell and Howell has transformed into a stable, profitable company with resources needed to continue expanding its customer offerings and sustain its growth trajectory well into the future.”
Bell and Howell was represented in the transaction by Lincoln International LLC and Morgan, Lewis & Bockius LLP, while Bank of America was represented by Otterbourg P.C.
About Versa Capital Management, LLC
Based in Philadelphia, Versa Capital Management, LLC is a private equity investment firm with more than $1.4 billion of assets under management focused on control investments in special situations involving middle market companies where value and performance growth can be achieved through enhanced operational and financial management. Versa’s portfolio includes retailers Avenue Stores and Vestis (Bob’s Stores, Eastern Mountain Sports and Sport Chalet); restaurants such as Black Angus Steakhouses; community newspapers under Civitas Media; and manufacturers that service a variety of industries. More information can be found at www.versa.com.
Bell and Howell is shaping the future of mail and commerce. We deliver innovative service and technology solutions that enrich customer communications and fulfillment for the world’s largest finance, industry and public sector enterprises. Our software and hardware streamlines high-volume, high-integrity production of customer communications and products, maximizes postal discounts, and monetizes every customer touchpoint. Our service organization is among the most sophisticated in the world for production workflow, automation and industrial mechatronics. Headquartered in Research Triangle Park, N.C., with offices around the world, Bell and Howell is the trusted partner to thousands of organizations globally. For additional information, visit www.bellhowell.net.