Daily News: October 13, 2014

TCF Capital Financing Backs American Card Services Refi

TCF Capital Funding provided $16 million of secured financing to support the refinancing of Spell Capital portfolio company American Card Services, and its acquisition of Production Services Associates.

The company is a manufacturer of printed cards for the gift, loyalty and membership markets serving global retail merchant payment processors. PSA is a large-run card manufacturer and production management business and ACS has niche expertise in manufacturing and fulfilling short run gift card orders.

“The combination of ACS and PSA brings together leaders in the short run and long run segments of the gift card industry. We are excited to partner with management and Spell to support the company’s continued growth,” said TCF Capital Funding SVP Edward Ryczek.