Bell and Howell, LLC
$25 million Term Loan
Leading provider and servicer of high volume production mail equipment.
The company’s business was negatively impacted by its parent company’s bankruptcy. Versa Capital Management purchased the company’s assets in a 363 sale.
A senior lender provided a $35 million revolver secured by inventory and accounts receivable. SLR Credit Solutions’s $25 million FILO term loan was secured by a junior lien in the current assets and was used to finance Versa’s purchase.
“When acquiring control of a company in a 363 asset sale, we seek lenders who understand the insolvency process and have experience working in a dynamic deal environment. We appreciate the flexibility, speed and creativity SLR Credit Solutions brought to the process during our acquisition of Bell and Howell.”
—Greg Segall, CEO of Versa Capital Management