commercial printer with binding and other full-service offerings

$24M Revenue

Company Overview

The Company is a full-service, commercial printer offering offset and digital printing, finishing and bindery, and warehousing services.

Historically, the Company provides services to customers across a broad industry base, including financial services, retail, consumer products, manufacturing and medical.

Engagement Overview

Historically, the Company had been profitable, generating revenue in excess of $24 million.

Revenue decline in combination with an over-leveraged balances sheet caused a significant decline in cash flows which resulted in a significant over-advance situation with its senior lender.

Through aggressive actions, FDP reversed a net loss of $470 thousand in 2016.  Actions include:

–Pricing increasing resulting in nearly $100 thousand of profit improvement.

–Production cost reductions saving $238 thousand in expenses.

–Overhead cost reductions saving $346 thousand in expenses.

Addendum:

Company re-engaged FDP in 2019 after switching senior lenders.  Company reverted to net losses in 2018 and 2019.

With the onset of COVID-19, FDP assisted the Company’s owners with a successful sale of the Company to a local competitor, preserving jobs and customers, as well as providing sufficient anticipated proceeds to completely repay the senior debtholders.

Results

FDP led a successful financial turnaround, returning the Company to profitability in 2017.

In addition, the over-advance with the senior lender was corrected with sufficient availability provided to operate the Company.

FDP led a successful sale of the Company to a local competitor in 2020.

FDP News

Dec - 21

Fort Dearborn Partners advises Foodservice Provider

Fort Dearborn Partners, Inc. served as the exclusive financial advisor to an Illinois-based foodservice provider and refinanced $17,500,000 of debt.

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Jul - 21

Brian Hartford joins Fort Dearborn Partners

Fort Dearborn Partners is pleased to announce that Brian Hartford has joined the firm as a Senior Director.

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May - 21

Fort Dearborn Advises Kanaflex Corporation, USA

Kanaflex Corporation USA (“Kanaflex” or the “Company”) is an industrial hose manufacturer with operations in Vernon Hills (IL), Compton (CA), and... Read More