M&R Partners with Backcast for Debt Refinancing
Deal News | Jan 09, 2025 | Backcast Partners LLC
Backcast Partners LLC, a prominent provider of both debt and equity capital to middle-market companies, has announced a significant investment supporting M&R Group Holdings, LLC in refinancing its existing senior debt. M&R, a portfolio company of Corinthian Capital Group, is a leading global manufacturer of apparel screen printing equipment with a robust and increasing presence in digital printing technology. The investment not only enhances M&R's ability to continue offering top-tier services but also supports its leadership position in technological advancements in garment printing. The long-standing partnership between Corinthian and Backcast is emphasized, with successful collaborations dating back to 2012. The deal negotiation was represented by McGuireWoods LLP.
Sectors
- Private Equity
- Manufacturing
- Printing Technology
Geography
- United States – Backcast Partners operates out of New York City and Millburn, NJ, while M&R is headquartered in Roselle, Illinois.
Industry
- Private Equity – Backcast Partners is a private equity firm involved in providing capital for M&R's refinancing efforts.
- Manufacturing – M&R is a leading manufacturer of screen printing equipment, establishing its dominance within the apparel industry.
- Printing Technology – The article focuses on M&R's role in screen and digital printing, highlighting advancements in garment printing.
Financials
- $1.3 billion – Total assets under management by Backcast Partners.
- $20 million to $150 million – The investment range per transaction that Backcast seeks.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Backcast Partners LLC | Bidding Company | Company | Private equity firm providing investment for M&R's debt refinancing. |
| M&R Group Holdings, LLC | Target company | Company | Manufacturer of apparel screen printing equipment, receiving support for senior debt refinancing. |
| Corinthian Capital Group | Selling Company | Company | Private equity firm that owns M&R and is collaborating with Backcast for refinancing. |
| McGuireWoods LLP | Legal Advisor | Company | Represented Backcast in the transaction. |
| Danny Sweem | CEO of M&R | Person | CEO who expresses excitement about the partnership with Backcast. |
| Peter Van Raalte | Co-Founder of Corinthian | Person | Co-Founder commenting on the partnership. |
| Ed Cerny | Managing Partner at Backcast | Person | Managing Partner speaking on the backstory of partnerships with Corinthian. |