news
Press Releases
Dresner Partners Advised MacLean-Fogg Company on the Issuance of $100 Million of Senior Subordinated Debt
FOR IMMEDIATE RELEASEDRESNER PARTNERS ADVISED MACLEAN-FOGG COMPANY ON THE
ISSUANCE OF $100 MILLION OF SENIOR SUBORDINATED DEBT
ISSUANCE OF $100 MILLION OF SENIOR SUBORDINATED DEBT
CHICAGO - November 22, 2013 - Dresner Partners, a leading FINRA-registered, middle-market investment bank and IMAP member firm, recently served as advisor to MacLean-Fogg Company, Inc. on its issuance of $100 million of senior subordinated debt to Ares Capital Corporation. As a result of the transaction, MacLean-Fogg significantly reduced its overall cost of capital and positioned the company to continue its strong growth trajectory.
For almost 90 years, MacLean-Fogg Company has partnered with key customers to engineer, manufacture and distribute products for the automotive and power utility marketplaces worldwide. The company is comprised of two primary businesses, MacLean Power Systems and MacLean-Fogg Component Solutions. MacLean Power Systems is a leading manufacturer of products for electric utility, telecommunications and civil markets. MacLean-Fogg Component Solutions is a leading manufacturer of fastener components, engineered components and linkage and suspension components for automotive, heavy truck, aerospace and other diverse industries.
“MacLean-Fogg has worked with Dresner Partners on multiple financings and M&A transactions, and we are extremely pleased with the favorable results of this financing," said George H. Cook, Senior Vice President, Finance & Chief Financial Officer of MacLean-Fogg. “Steve Dresner, Paul Hoffman and their team conducted a thorough and expedient process that exceeded our expectations.
“We always enjoy working with the MacLean-Fogg team," said Steven Dresner, President of Dresner Partners. “The company is a world-class organization and received a high level of interest from the lending community."
Paul Hoffman, Senior Vice President at Dresner Partners, added, “It was a pleasure working with both MacLean-Fogg and Ares Capital in consummating a transaction that optimizes MacLean-Fogg's balance sheet."
About Dresner Partners
Dresner Partners is a FINRA-registered, middle-market investment bank headquartered in Chicago, Illinois with an office in New York City. Founded in 1991, Dresner Partners provides financial advisory services to middle market companies throughout the world, including institutional private placements of debt and equity, merger and acquisitions advisory, financial restructuring & corporate turnarounds, valuations and strategic consulting services. Dresner Partners is also a member of IMAP, an exclusive global organization of leading merger and acquisition advisory firms. An affiliated company, Dresner Corporate Services, is a strategic communications firm specializing in public and investor relations. More information is available at www.dresnerpartners.com or www.imap.com/locations/office.cfm?OfficeID=416
About MacLean-Fogg Company
Founded in 1925, MacLean-Fogg Company is a group of global enterprises that partner with key customers to engineer, manufacture and distribute products for the transportation, power and OEM markets worldwide. MacLean-Fogg operates 32 global manufacturing facilities and has a worldwide workforce of more than 3,000 people. The company is a privately held enterprise headquartered in Mundelein, Ill.
About Ares Capital Corporation
Ares Capital is a leading specialty finance company that provides one-stop financing solutions to U.S. middle market companies and private equity sponsors. The Company originates and invests in senior secured loans, mezzanine debt and, to a lesser extent, equity investments through its national direct origination platform. Ares Capital's investment objective is to generate both current income and capital appreciation through debt and equity investments primarily in private companies. Ares Capital has elected to be regulated as a business development company, and is externally managed by a wholly owned subsidiary of Ares Management LLC. Ares Management is a global alternative asset manager and a SEC-registered investment adviser with approximately $68 billion of committed capital under management as of September 30, 2013.
###
For Media Inquiries:
Doug Dusik, Dresner Corporate Services (312)780-7218, ddusik@dresnerco.com
David Gutierrez, Dresner Corporate Services (312)780-7204, dgutierrez@dresnerco.com
For Transaction Related Inquiries:
Steven Dresner, President, (312)780-7206, sdresner@dresnerco.com
Paul Hoffman, Senior Vice President, (312)780-7229, phoffman@dresnerco.com