Crystal Financial Provides Financing To Bell And Howell
Boston – July 7, 2011 – Crystal Financial LLC announced today that is has closed a $20 million term loan financing for Bell and Howell, LLC, an affiliated portfolio company of Versa Capital Management, Inc. Crystal’s financing was part of a $55 million total credit facility co-agented by PNC Bank, National Association and will be utilized to support the growth and working capital needs of the organization. Based in Wheeling, IL, Bell and Howell is a provider of solutions and services for paper-based and digital messaging solutions.
Josh Franklin, Managing Director of Crystal Financial commented: “Bell and Howell is very well positioned in the mail production solutions industry and has a large base of high quality, very loyal customers. We are pleased to have partnered with both PNC Bank and Versa Capital Management to support the recapitalization of Bell and Howell, a company with a long history of leadership and innovation in its industry.”
“We appreciate the flexibility, speed, and creativity Crystal brought to the process,” stated Greg Segall, CEO of Versa Capital Management. “The new Bell and Howell has all of its distractions behind them – and the products and service solutions are now the sole focus of the business. The ability to focus on customers and their needs, and focus on products, is going to be a huge step towards the company obtaining a high level of success.”
About Crystal Financial
Crystal Financial is a commercial finance company which originates, underwrites and manages secured loans to middle market companies in all industries. Crystal Financial’s seasoned team of debt-structuring experts have made over $20B in loans to companies across a wide array of industries. For additional information about Crystal Financial, please visit https://www.crystalfinco.com.
About Bell and Howell
Based in Wheeling, Illinois with operational centers in Durham, North Carolina and Bethlehem, Pennsylvania, Bell and Howell is the recognized leader in the development of superior production mail equipment and software technologies. The Company designs and delivers flexible, high-performance mail production solutions and services that help its customers reduce costs, increase productivity and prepare for changes. Bell and Howell’s expertise in high-speed inserting systems, postal and sorting systems, ADF software and vision systems, backed by an award-winning service organization, have earned the company a reputation for innovation, reliability and quality.