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Cash Flow Senior Debt Expertise.  Lower Middle-Market Focus.

Amalgamated Capital Leads Financing for ICV Partners' Recapitalization of Mallet & Company, Inc.

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NEW YORK, NY, October 19, 2010 - Amalgamated Capital (AmalCap), the leveraged finance division of Amalgamated Bank headquartered in New York City, announced today it served as Lead Arranger and Administrative Agent in support of the recapitalization of Mallet & Company, Inc. by ICV Partners. AmalCap provides cash flow-based senior financing to support investments made by private equity sponsors in high quality, lower middle market companies across the United States. The amount of the transaction was not disclosed.


Based in Carnegie, PA and serving a global market, Mallet & Company is a specialized manufacturer of oils, ingredients and custom food processing equipment for the baking and food processing industries. ICV Partners is a New York-based private investment firm with more than $440 million in committed capital from well known institutional investors.


"Ira Moreland, Qian Elmore and the entire ICV team were great partners. They chose us to lead this transaction because of our prior experience in the food industry, coupled with our flexibility in tailoring a financing plan that met their needs," said Timothy Clifford, Executive Vice President and Head of Amalgamated Capital. "This was our first transaction with ICV Partners, a well known and top tier private equity firm, and we look forward to working with them on future transactions."


"AmalCap, which underwrote the transaction, brought substantial expertise to the process," said Ira Moreland, Managing Director of ICV Partners. "They worked very efficiently with our team and took a patient, creative and flexible approach in addressing issues that arose, enabling us to close the transaction on our schedule. We recommend AmalCap with confidence to other private equity investors."  


About ICV Partners

ICV Partners is a New York-based private investment firm with over $440 million in committed capital from well known institutional investors. ICV pursues a value-oriented investment strategy to invest in strong companies with market leading positions in partnership with management. ICV is managed by four senior investment professionals who have extensive experience in sponsoring management teams and building businesses. In addition, ICV has two co-sponsors, the Initiative for a Competitive Inner City (founded by Harvard Business School Professor Michael E. Porter) and American Securities Capital Partners, L.P. (a $6 billion New York-based private equity firm). Additional information is available at www.icvcapital.com.

 

About Mallet & Company

Based in Carnegie, PA, Mallet & Company is a specialized manufacturer of oils, ingredients and custom food processing equipment products for the baking and food processing industries. Serving a worldwide market, it is recognized as a leading supplier of emulsifiers, icing stabilizers, bread pan oilers, food grade release compounds, cake pan greasers, edible oils and specialty blends, and emulsifiers. For additional information, visit www.malletoil.com.

Contact Us About Financing Your Next Investment

Timothy Clifford

Executive Vice President
212-895-4486
[email protected]


Sean McKeever

First Vice President
212-895-4468
[email protected]

Mindy Naylor
Vice President
212-895-4470 [email protected]

Dan Moss
Senior Associate
212-895-4455 [email protected]

Sean McClenaghan
Analyst
212-895-4689 [email protected]
Headquarters
275 Seventh Ave, 14th Floor
New York, NY 10001 www.amalcap.com


About Us


Amalgamated Capital (AmalCap), headquartered in New York, is the leveraged finance division of Amalgamated Bank, a privately-owned commercial bank with nearly $5 billion in assets.

AmalCap, launched in September 2009, is focused exclusively on partnering with private equity sponsors and providing cash flow-based senior financing for investments in the lower middle-market nationwide.

Our Focus

Company Criteria:
Minimum Revenue of $15MM
EBITDA of $3MM to $15MM
Positive Historical Cash Flow
EBITDA Margins Exceeding 10%
Defensible Market Position
Experienced Management Team
Headquartered in the United States
Private Equity Sponsored


Financing Size:

Senior Debt up to $50MM
Commitments up to $25MM
Target Hold up to $15MM

Products & Services:
Revolvers
Term Loans
Senior-Stretch Loans
One-Stop Structures
Letters of Credit
Treasury Management Services

Industry Focus:
Business Services
Consumer Products
Defense & Aerospace
Distribution
Education
Food & Beverage
Healthcare
Manufacturing
Software & IT Services


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