A.F.L. Web Printing Secures Additional Financing to Accelerate Growth
VOORHEES, NJ—June 2010—A.F.L. Web Printing is pleased to announce it has secured additional financing from Westbury Investment Partners, SBIC, L.P. through a recapitalization plan designed to enhance the company’s working capital. A.F.L. is now well positioned to take advantage of opportunities in the newspaper business as the industry consolidates and outsources printing operations. With its multi-million dollar equity investment, Westbury is now the majority owner of A.F.L.
Westbury Investment Partners is a private equity fund launched by Westbury Partners, a leading provider of flexible preferred equity and subordinated debt capital. It supports proven, successful teams that are managing businesses with predictable revenue streams, expanding markets, existing or near-term profitability, and discernible competitive advantages.
“As opportunistic investors we focus on businesses that possess strong growth potential,” said James W. Schubauer II, President and COO of Westbury. “We have been a minority shareholder in A.F.L. since 2008 and I have tremendous respect for the A.F.L. team.”
A.F.L. also recently announced an operational restructuring at its Secaucus plant intended to make the company even more efficient. “This restructuring allows us to run the existing level of sales through our two plants with a significantly improved cost structure while remaining well positioned to take advantage of future growth.” said Schubauer. “With these enhancements, A.F.L. will be better situated to provide the high level of service that its customers have come to expect.”
As a result of this transaction A.F.L. has created a more effective capital structure which will enable the Company to take advantage of current opportunities within the newspaper industry as well as execute on future prospects. “We are happy to demonstrate our support of the Company’s long term strategic direction,” continued Mr. Schubauer. “Westbury’s investment reflects our enthusiasm for A.F.L. and this opportunity.”
About A.F.L. Web Printing:
A.F.L. Web Printing is the Publisher’s Resource of Choice in the Mid-Atlantic region for over 350 national, regional and local publishers. Our strategically located Regional Print Centers in Voorhees and Secaucus, New Jersey contain over one quarter million square feet of production capacity and provide our publishing customers unparalleled opportunities for growth. In addition to printing, A.F.L. offers a full range of services including sales support, finishing, mailing circulation services, and delivery. For more information please contact Mark Henderson , Phone, Email.