Bartash Printing Announces Completion of Key Strategic Initiatives for Future Growth
PHILADELPHIA—June 29, 2015—Bartash Printing, a leading provider of commercial offset printing solutions, announced today that it has completed a successful refinancing with North Mill Capital. This new financing consists of a revolving line of credit, along with two term loans. Bartash will use the net proceeds from this refinancing to fund ongoing working capital requirements in support of its expanding customer needs.
Linda Rubin-Simon, president of Bartash, commented, "We couldn’t be happier with our new lender. We believe that our new financing structure will give us the liquidity and financial flexibility we need to continue to execute on our business plan." This plan focuses on providing customers with the best products available in the marketplace; competitively competing in the marketplace for new customers looking for quality products and value; continue working closely with vendors who have supported Bartash over the years; and, promoting a challenging yet rewarding work environment for Bartash’s employees to grow professionally.
"We were very pleased with the industry leading position of Bartash and its seasoned senior management team," said Dan Tortoriello, executive vice president and chief operating officer of North Mill Capital. "It was clear to us that Bartash needed a more flexible financial package to address their ongoing expansion efforts in the marketplace while continuing to provide superior customer service and value-added solutions to its existing customer base."
The refinancing efforts were led by Phoenix Management Services, a nationally-recognized provider of sustainable, operationally focused solutions to middle market businesses. "The successful completion of this financing was driven by the determination of Bartash’s management team to execute on their business plan while delivering strong financial results. Phoenix was glad to have provided strategic and financial advice throughout the process," stated Mark Karbiner, director of Phoenix Management Services.
Bartash also announced several key personnel updates. Helene Rubin was promoted to executive vice president, reporting directly to the owner and advisory board, and Rick Morrison was promoted to director of sales. "We are extremely pleased and excited to announce the promotions of Helene and Rick. Their leadership, hard work and determination throughout the refinancing process, as well as their daily contributions to the successful execution of our strategic plan have paved the way to ensure Bartash’s successful future," Simon stated. With the recent addition of Keith Fisher as the new vice president of finance and administration, Bartash’s senior management team is secure and ready to take the company to the next level. "This is a very exciting time to be associated with Bartash."
About Bartash Printing
Founded in 1952, Bartash Printing is the largest cold web commercial printing company in the greater Philadelphia area and one of the top 100 premier publication printers in North America. The company has six press lines, full prepress, postpress, imaging and mailing capabilities. Bartash specializes in full-color printing, fulfillment and distribution, variable data imaging, production consulting and Internet publishing. Operating 24/7 with live technical support, Bartash has built a reputation for award-winning service, quality, and innovation.
Source: Bartash Printing.