Salem Partners advised ValpakClipp, a provider of marketing and advertising solutions across direct mail, digital and data-driven platforms, on the refinancing of its debt facilities through a $140 million senior term loan and revolving credit facility. Wells Fargo served as the agent bank for a group of lenders to the company.
The transaction was led by Wells Fargo as administrative agent and lead arranger, with First Horizon Bank and UMB Bank participating in the syndicate. Salem Partners was engaged by the company on an exclusive basis to structure, source and execute the facility, which refinanced the company’s existing senior loan facility, as well as loans from Trive Capital and Eldridge Industries.
“We appreciate the support from Wells Fargo and the rest of the bank group, who collectively recognized the company’s strong market position, the resiliency and efficacy of direct mail, and the talented team leading the business,” Brad Wiginton, partner at Trive Capital, said. “ValpakClipp is in a unique position to continue to grow and deliver a wide range of advertising solutions to both small business owners and national advertisers; we are excited about what lies ahead for the business.”
John Amato, CEO of ValpakClipp, added, “This transaction is a defining moment for our company. It streamlines our capital structure, provides significant capacity for future growth and establishes a banking group that is fully aligned with our long-term ambitions. Just as importantly, it marks the successful culmination of our strategy to build the market-leading platform in cooperative direct marketing. With this financing in place, we are exceptionally well positioned to invest in growth, serve our customers at an even higher level, and create long-term value for our employees and shareholders.”
Stephen Prough, managing director of Salem Partners, commented, “We are pleased to have advised ValpakClipp on this successful refinancing. The strong support from a high-quality bank syndicate underscores the company’s market leadership, resilient business model and continued momentum across its core offerings. This transaction positions the company well for its next phase of growth.”
