ButcherJoseph advised Haberfeld Partners on a senior and junior debt refinancing transaction.

Haberfeld is a retail and business customer acquisition partner for financial institutions. For more than 35 years, Haberfeld has partnered with banks and credit unions to grow their customer bases.

The transaction, which closed on June 30, marks the third closed deal between ButcherJoseph and Haberfeld. Originally, ButcherJoseph advised Haberfeld on its sale to an employee stock ownership plan. Haberfeld later completed a recapitalization transaction to raise institutional capital and update management incentive plans.

“We recognized that there was an opportunity to refresh our balance sheet and renew our ownership structure to better match Haberfeld’s strategic plans moving forward while maintaining an employee ownership structure and culture,” David Furnace, CEO of Haberfeld, said. “This refi provided us with capital to retire obligations to the company’s founders and with financial partners that will continue with us on our growth journey.”

“It was an optimal time to access the capital markets to provide the company with both senior and junior debt capital at highly compelling terms, as well as financial partners that are aligned with and can support the company’s growth objectives,” David Lake, senior investment banker at ButcherJoseph, said.