Cole Taylor Business Capital Funds $7M Senior Revolving Credit Facility to Las Vegas Color Graphics
LAS VEGAS—Cole Taylor Business Capital, a division of Cole Taylor Bank, has funded a $7.362 million senior revolving credit facility to Las Vegas Color Graphics (LVCG) of Nevada, a privately-owned, full service commercial printing company, that provides a full spectrum of high-end commercial printing, mailing and signage services including electronic prepress, offset and digital printing, finishing, and fulfillment/delivery to corporate clients nationwide, reported the ABL Advisor.
According to the ABL Advisor, the proceeds of the loan facilitated a change of control and the recapitalization of the company and will also be used to fund ongoing working capital needs.
Spell Capital Mezzanine Partners (SCMP) made a capital investment in LVCG; and Convergent Capital, a Minneapolis-based investment firm, also provided debt, the ABL Advisor said.
Bill Vargas, LVCG CFO, told the ABL Advisor regarding the transaction: “The creativity and flexibility of the financial solution offered by Cole Taylor Business Capital fit perfectly with the needs of LVCG. We truly look forward to having Cole Taylor Business Capital, SCMP and Convergent Capital as our capital partners going forward.”