Aug. 4, 2020, 5:16 p.m. EDT

Lampert Debt Advisors Serves as Exclusive Financial Advisor to von Drehle Corporation on Its Comprehensive Refinancing

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New York, NY, Aug 04, 2020 (GLOBE NEWSWIRE via COMTEX) -- via NEWMEDIAWIRE -- Lampert Debt Advisors, a leading debt capital markets-focused investment bank, announced today the successful refinancing of von Drehle Corporation. Headquartered in Hickory, NC, von Drehle is one of the United States' largest privately held towel and tissue manufacturers serving the away-from-home market. Lampert acted as von Drehle's exclusive financial advisor and privately placed an asset-based million Revolver/First Lien term with a loan syndicate led by CIT Bank and a combined Second Lien/Preferred Stock Investment by Morgan Stanley Credit Partners and Comvest Credit Partners. Proceeds were utilized to retire existing indebtedness, fund growth capital expenditures and for general corporate purposes.

Lampert worked closely with senior management on all aspects of the financing including structuring, marketing and negotiating the financing. Randy Bergman, von Drehle's President and CEO, remarked, "The Lampert team did an excellent job preparing us to enter the market, managing a highly-competitive process and ultimately securing long-term financing partners. Lampert quickly introduced the Company to a broad range of potential lenders and partners despite the inability to meet in person. The new financing provides us with a more stable capital structure so we can focus on delivering high-quality products and services to our customers and continuing to grow the business."

"The Lampert team was honored to have been selected by the Company as it sought to access the institutional debt capital markets despite the challenges arising from the COVID-19 pandemic. von Drehle is an exceptional company that possesses a management team characterized by integrity, superior performance and extraordinary capabilities," said Randy Lampert, CEO of Lampert Debt Advisors. "We're delighted to have been a member of the team that brought this transaction to a successful conclusion."

Von Drehle Corporation

von Drehle is a leading vertically integrated manufacturer and distributor of disposable towel and tissue products. von Drehle's product breadth, award-winning customer service, and national footprint have positioned it as a leader in the away-from-home towel and tissue market. For more information, please visit www.vondrehle.com .

Lampert Debt Advisors

Headquartered in New York City, Lampert Debt Advisors specializes in private debt placements and restructurings and is uniquely qualified to provide clients unmatched expertise, market insight and optimal results. Since 2009, we have completed over $3 billion in transactions, ranging in size from $50 million to $300 million, across the industry spectrum. Lampert's principals have completed over $25 billion in financings over the course of their careers. For more information, please visit www.lampertdebtadvisors.com . Securities offered through Lampert Capital Markets, Inc.

Contact

Lampert Debt Advisors

Randy Lampert, President

914.282.0915

randy.lampert@lampertdebtadvisors.com

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COMTEX_368878792/2010/2020-08-04T17:16:16

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