Daily News: February 28, 2012

M&A Advisor Awards Cole Taylor Business Credit Refinancing of Year


Cole Taylor Business Capital (CTBC), a division of Cole Taylor Bank, was part of a deal team awarded “Refinancing of the Year.” The M&A Advisor, an organization serving professionals in the fields of mergers and acquisitions, corporate turnarounds and finance, presented the award.

The M&A Advisor honored deal teams, dealmakers and firms whose activities set the standard for the industry at its sixth annual awards event held in Palm Beach, FL. This year, 160 nominees representing more than 250 companies were finalists for the awards. An independent judging committee of industry experts determined the award recipients.

“The award winners represent the best of the turnaround, restructuring and distressed investing industry in 2011, and earned these honors by standing out in a group of very impressive finalists,” said Roger Aguinaldo, CEO of The M&A Advisor.

The award was presented for the refinancing of Classic Brands, LLC, a developer and producer of memory foam, latex mattresses and waterbeds, based in Jessup, MD. Following a successful restructuring, Classic Brands was seeking a traditional line of credit to support day-to-day operations and future growth of the company. CTBC worked closely with Classic Brands’ management team and their key advisor, Executive Sounding Board Associates Inc., to complete the refinancing.

“Executive Sounding Board introduced us to Cole Taylor, which turned out to be a perfect fit for what we were trying to accomplish with a new senior credit facility,” said Mike Zippelli, CEO of Classic Brands. “Cole Taylor took the time to understand our story, outlined a flexible financing structure in a timely manner, and closed on what they proposed.”

The deal team recognized by The M&A Advisor and part of the Cole Taylor financing included Executive Sounding Board Associates, Herman Law, Miles & Stockbridge, Shulman, Rogers, Gandal, Pordy & Ecker and Classic Brands.

Cole Taylor Business Capital seeks asset-based lending opportunities in the $5 million to $50 million range and is offering dedicated syndication opportunities of up to $100 million.