Daily News: July 9, 2014

Salus Capital Awarded Deal of the Year

Salus Capital Partners announced it was awarded the Manufacturing Deal of the Year (under $75MM) Award for providing a DIP facility to National Envelope at the 4th Annual ACG NY Champion’s Awards.

Salus structured a $67.5 million DIP facility for National Envelope, the largest privately held manufacturer of commodity, proprietary and specialty envelopes in North America, to provide the company with working capital as it operated under the protection of Chapter 11 of the U.S. Bankruptcy Code. The timeliness and execution of the facility allowed for a successful sale process and prevented a liquidation, enabling several factories to remain open and saving over 1,500 jobs.

“Salus is honored to be recognized by ACG New York and the M&A Advisor for this award,” remarked Andrew H. Moser, president and CEO of Salus Capital. “Our team worked tirelessly to create a tailored and holistic capital solution best suited for the company. We are proud of our team’s work and would like to congratulate all of the attorneys, turnaround advisers, and professionals involved in ensuring that National Envelope achieved the best result for all interested stakeholders.”

Now in its 4th year, the ACG New York Champion’s Awards recognizes individuals, firms and transactions that have helped drive America’s middle market. An independent body of experts representing a cross-section of the middle market industry selected the winning deals and dealmakers from among finalists.