Bartash Announces Extension of Loan Agreement, Other Significant Updates
PHILADELPHIA — August 8, 2017 — Bartash Printing, a leading provider of commercial offset printing solutions, announced today that it has extended its Loan Agreement with North Mill Capital through 2020, with more favorable terms. This financing consists of a revolving line of credit, along with two term loans. Bartash will continue to use this financing to fund ongoing working capital requirements in support of its expanding customer needs.
“We have been very pleased with Bartash since the refinancing back in February 2015. With its seasoned senior management team, superior customer service, and value added solutions to existing and new customers, we are excited to continue our relationship with Bartash for years to come,” says Dan Tortoriello, EVP and COO of North Mill Capital. “Our confidence in the senior management team — as well as the company’s consistent financial performance — were primary drivers for extending our loan with Bartash.”
Bartash also announced other key updates:
- The Company has invested over $1.7 million in 2017 in its press and postpress departments, including strategic purchases of “state of the art” equipment to enhance its production capabilities.
- Helene Rubin, president of Bartash, was awarded the Graphic Arts Association’s top honor: 2017 Neographics Person of the Year. Rubin was honored for her exceptional leadership and achievements in the print industry at this year's Neographics event earlier this year.
- In recognition of her successful contributions to the printing industry, Rubin was named to the Board of Directors for the Graphic Arts Association in July 2017.
- Bartash won the “Best of Newspaper” category at Neographics 2017 for exceptional design, quality and finished product. The number of colors, press size, and printing process were judged in determining the winner of this category.
In addition to the extension of its Loan Agreement and other key updates, Bartash also announced that it hired industry veteran, Thom Scirrotto to complement and expand its sales efforts in commercial offset printing. Mr. Scirrotto comes to Bartash with substantial printing experience working directly with publishers to help them grow their businesses. Utilizing his 33+ years of industry expertise, he is well versed in all aspects of publishing from periodical expertise, paid subscription, circulation and distribution, advertising sales including national FSI programs, content, layout and production.
Linda Rubin-Simon, owner of Bartash, commented, “2017 has been a remarkable year so far for Bartash. We extended our relationship through 2020 with North Mill Capital, thereby securing all of our financing needs for years to come. We acquired new equipment to further capitalize and expand on our efforts to service existing customers and grow our postpress business. We were recognized by our peers in the printing industry by winning several awards for high quality, service and exceptional leadership.
She continues, "We recently hired Thom Scirrotto, an industry leader, to grow our core cold web business and expand into other verticals. With a strong financial partner (North Mill), exceptional employees, and long-standing vendor relationships, we are well-positioned to continue providing best in class products and services to existing customers while strategically onboarding new customers who are looking for a strong, reliable partner to grow their businesses now and into the future.”
The preceding press release was provided by a company unaffiliated with Printing Impressions. The views expressed within do not directly reflect the thoughts or opinions of Printing Impressions.