JERSEY CITY, N.J., July 8, 2013 (GLOBE NEWSWIRE) -- Diversified Global Graphics Group (DG3), a leading provider of global print, technology, and visual communication services, announced today that it has completed the refinancing of its senior debt with Cole Taylor Business Capital. The terms of the loans were not disclosed. DG3 is supported and majority owned by Arsenal Capital Partners, a leading New York-based private equity firm that invests in middle-market specialty industrial and healthcare companies.
DG3's CEO Tom Saggiomo commented on the refinance stating, "We are delighted to have Cole Taylor as our new senior lender. They understand the transformation strategy we have been executing for the past two years. This financing enables DG3 to implement certain strategic initiatives including technology and equipment investments as well as potential tuck in acquisitions. There are a number of very attractive investment opportunities for our business and we look forward to capitalizing on them."
LJ Baillargeon, Chief Financial Officer also commented: "A portion of our business operates in the very challenging commercial printing segment where each year we see fewer surviving establishments. DG3's refinancing is important as it reassures our employees, clients and suppliers of our financial sustainability and commitment. In addition, the cost of this capital is far lower than our previous debt, which enables us to increase our investments in the business."
Terrence Mullen, Managing Partner of Arsenal Capital Partners added, "DG3's management team has managed through the most challenging economic cycle in decades and has continually advanced its strategy of integrating technology and business process outsourcing solutions into its print client base. We look forward to the continued evolution of this business which will help to deliver a superior investment return for Arsenal."
About Arsenal Capital Partners
Formed in 2000, Arsenal Capital Partners is a leading New York-headquartered private equity firm that invests in middle-market specialty industrial and healthcare companies. Arsenal makes investments in sectors where the firm has significant prior knowledge and experience.
The firm targets businesses that have the potential for further value creation by working closely with management to accelerate growth and leverage the firm's operational improvement capabilities. For additional information on Arsenal Capital Partners, please visit www.arsenalcapital.com.
About The DG3 Group of Companies
DG3 is a leader in environmental responsibility providing visual communications solutions in strategic geographic markets including New York, London, Hong Kong, Tokyo, Sydney and Manila. DG3 provides its comprehensive graphic and interactive solutions to corporate, financial services, and pharmaceutical firms worldwide. For more information, please visit www.dg3.com.
About Cole Taylor Business Capital
Cole Taylor Business Capital is the asset based lending division of Cole Taylor Bank, a commercial bank headquartered in Chicago, Illinois. Cole Taylor Business Capital seeks asset based lending opportunities in the $5 million to $50 million range and is offering dedicated syndication opportunities of up to $100 million. The firm can also provide access to the full range of business banking products and services offered by Cole Taylor Bank.
Cole Taylor Bank is a commercial bank headquartered in Chicago with assets of $5.8 billion as of March 31, 2013 and is a wholly-owned subsidiary of Taylor Capital Group, Inc. (Nasdaq:TAYC). Cole Taylor Bank specializes in serving the banking needs of closely held businesses and the people who own and manage them. With its national businesses, Cole Taylor Bank also provides asset based lending, commercial equipment financing, and residential mortgage lending through a growing network of offices throughout the United States. For more information, visit www.coletaylor.com.
Cole Taylor is a member of FDIC and is an Equal Housing Lender.