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South Franklin Street Partners Provides Senior Subordinated Debt to Gerli & Co., Inc.
Cleveland, Ohio (March 2006) -- South Franklin Street Partners' Mezzanine Fund (ACP-I, L.P.) provided senior subordinated debt (with a detachable warrant) to Gerli & Co. This investment was used as part of a financing package to support the acquisition of Gerli & Co. through a newly formed Employee Stock Ownership Plan ("ESOP").
Gerli & Co., headquartered in New York City, is a designer, manufacturer and distributor of silk and other high-end furnishing fabrics for the residential and contract markets. Gerli competes in the design-oriented niche of the textile industry that is mostly dependent on smaller runs and quantities at relatively high price points. Markets for Gerli include residential and commercial interior designers, hospitality and casinos, and high-end transportation. Gerli maintains very strong relationships with its customers and is a top supplier to each of its major customers for the types of fabrics it sells.
About South Franklin Street Partners
South Franklin Street Partners, through its mezzanine fund, ACP-I, L.P., is in the business of investing junior capital in middle market companies with annual revenues between $10 million to $150 million. ACP-I utilizes its capital to fund buyouts of minority or majority shareholders, ESOPs, non control recapitalizations, generational transfers, acquisitions, or to facilitate the growth of profitable middle market businesses. ACP-I's target investment size is $2 million to $10 million but can provide additional capital in conjunction with affiliated investors. ACP-I normally invests subordinated debt with warrants or preferred stock with an equity participation feature. Other structures will be considered, where appropriate.
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South Franklin Street Partners Provides Senior Subordinated Debt to Rutland Plastics, Inc.
South Franklin Street Partners Provides Senior Subordinated Debt to Gerli & Co., Inc.
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South Franklin Street Partners Provides Mezzanine Financing To Wessels Company
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South Franklin Street Partners Announces Final Closing Of Its Mezzanine Fund
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