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PrintSouth Corporation is one of the largest independently owned providers of mission critical transactional documents used by major corporations for communicating with their customers.  The Company is headquartered in Cincinnati, Ohio with manufacturing facilities in Richmond, Virginia, Tempe, Arizona and Jacksonville, Florida and sales offices and distribution facilities located nationally.

Situation:

• The Company was a long-term customer of its previous lender, which had been acquired by another bank.  The printing industry did not fit into the new lender’s long-term strategy, and as a result, the new lender negotiated with the company, generating a compromise note to replace its existing facility with another source.

Challenges:

• The company faced a significant time constraint to meet the deadline provided in the existing lender’s compromise note (7 weeks)
• The company was coming off a challenging year due to the economic recession that provided difficulties industry-wide among the printing industry

Successful Solution:

• Anderson LeNeave contacted numerous financial institutions
• Anderson LeNeave originated and structured a $17.5 million senior secured credit facility with Regions Financial Corporation in less than 60 days, resulting in a substantial reduction in the company’s existing debt

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