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CHICAGO, IL – October 22, 2015; City Capital Advisors, LLC (“City Capital”), a Chicago-based investment bank with experienced professionals serving middle market companies and their owners across the U.S., announced today that it advised The M&R Companies in completing a significant recapitalization and growth capital investment with Corinthian Capital Group, LLC (“Corinthian”), a leading private equity firm specializing in investing in middle market companies. The transaction was led by City Capital managing directors Scott Lang and Barry Craig.
Financial details were not disclosed.
Since its founding in 1985, The M&R Companies (“M&R” or the “Company”) has grown steadily to become the world’s leading manufacturer of screen printing equipment for the growing domestic and international apparel industry. Headquartered in Glen Ellyn, Illinois, with additional production facilities in Niles, Illinois and Wojnicz, Poland, M&R produces the most comprehensive and technologically sophisticated line of equipment for apparel printers worldwide, as well as digital printing equipment for both the apparel and certain industrial markets. M&R engaged City Capital in 2014 to secure a capital partner that would invest in the Company’s continued global expansion and help its owners bring it to a new level. After a highly competitive process conducted by City Capital, M&R selected Corinthian Capital Group in New York City to be its partner. M&R was in the process of consolidating its two Chicago area manufacturing facilities and its corporate headquarters into a new more automated state-of-the-art 320,000 square-foot facility at a new Chicago area location, adding considerable complexity to the transaction. Corinthian and the owners of M&R, nevertheless, skillfully managed to close the transaction on schedule in the midst of the ongoing facility consolidation.
”We feel very fortunate to partner with the Hoffmans and M&R’s management team” said Jim McNair, Senior Managing Director at Corinthian Capital. “Our additional capital and resources provide the Company with the ability to further invest in its operations, fund additional penetration of international markets, aggressively grow its presence in the digital direct-to-garment segment, and pursue add-on acquisitions.” said Adam Fitzner, Principal at Corinthian Capital.
“It has been a privilege to serve as advisor to The M&R Companies and its owners, Rich and Elizabeth Hoffman, in this important, pivotal transaction,” said Scott Lang, Managing Director of City Capital. “A Company like M&R, with such a high performing leadership team, does not come along very often. We are very pleased to have facilitated the Company’s partnership with Corinthian, a first class private equity investor.”
About M&R Companies
M&R Companies is currently the world’s largest manufacturer and the gold standard of the textile and graphic screen printing equipment industry. M&R leads the industry in terms of the number and quality of products it offers, frequency of product innovations, products system integration, parts interchangeability, products durability, and equipment resale values. In addition, M&R has supplied more than 15,000 customers worldwide including many of the biggest brand name apparel makers in the world such as Nike, Adidas/Reebok, VF Brands and Gap, as well as many of the top distributors in the industry such as Nazdar, Graphic Solutions Group and R.H. Corporation.
For additional information about The M&R Companies visit www.mrprint.com.
About Corinthian Capital
Corinthian Capital Group, LLC is a private equity firm specializing in buyouts, recapitalizations, industry consolidations, acquisitions, growth capital, working capital investments and add-on acquisitions in small and lower middle market entrepreneur owned or family owned businesses. Corinthian was founded in 2005 and is based in New York, New York with additional offices in Chicago, Illinois and Hingham, Massachusetts.
For additional information about Corinthian Capital visit www.corinthiancap.com.
About City Capital Advisors, LLC
City Capital Advisors, a FINRA registered broker-dealer, is a results oriented investment banking firm that focuses on serving closely held private companies and the companies that invest in them. Client engagements are managed exclusively by experienced senior investment bankers who provide business owners with unparalleled strategic advice and transaction execution, assisting them to maximize the value of their companies and achieve other shareholder objectives. City Capital’s investment bankers have successfully advised clients on M&A and other capital markets transactions totaling more than $60 billion in aggregate value.