Ravinia Capital Completes Refinancing for the Primex Family of Companies

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The financing transaction which closed with Edge Capital increased committed funding to the borrower group by more than 50% over its previous revolving line of credit from another lender and will enable planned expansion into additional markets alongside further significant investment into research & development of new technologies.

Ravinia Capital LLC, a Chicago-based boutique investment bank specializing in sell-side M&A and capital advisory for middle-market companies, is pleased to announce the refinancing and raise of additional debt for the Primex Family of Companies (PFoC).

PFoC is a Lake-Geneva-Wisconsin-based, global distributor of own-branded-and-designed weather instruments, environmental sensors, notification boards, synchronized clocks, companion software solutions, and clock craft kits which has remained proudly family owned since its first member company’s founding in 1972.

In order to best capitalize on a number of substantial strategic growth opportunities relating to its existing products without sacrificing continued investment in further innovation, the group retained Ravinia Capital to replace its revolving line of credit with a new facility offering additional availability.

Ravinia conducted a rapid, competitive process to identify the candidate best suited to meet this need—ultimately collecting several proposals for evaluation, of which Edge Capital’s offer represented the clear highest & best option—then proceeded to work closely with PFoC and its counsel obtain the desired funding within 120 days of initial contact with prospective lenders.
Speaking to the central role played by the investment bank in facilitating such speed to closing, Andrew Gustin, Director of Business Development at Edge Capital commented, “We want to commend Ravinia on an exceptionally well-run process. Their dedication to providing us with timely and comprehensive information made our review process efficient and thorough.”

Conveying a similar sentiment, Paul Shekoski, CEO of the PFoC attested, “Ravinia Capital helped deliver a very successful outcome in obtaining our new loan through their knowledge and skill at running a comprehensive, thorough refinancing process. We wholeheartedly would recommend any company needing help in a liquidity situation hire Ravinia Capital. They are on your side and get the job done.”

The professional advisors on the transaction were:
Borrower’s Investment Banker

  • Ravinia Capital LLC – Tom Goldblatt, Managing Partner; Alan Kravets, Managing Director; Michael Shanahan, Analyst

Borrower’s Counsel

  • Michael Best & Friedrich LLP – Michael H. Altman, Partner; Vincent M. Morrone, Partner

Lender’s Counsel

  • Otterbourg P.C. – Nneoma A. Maduike, Partner; Gabriela Zapata, Associate

About Ravinia Capital:
Ravinia Capital LLC is a middle-market investment bank headquartered in Chicago, IL. The firm is a trusted advocate for companies who are looking to source capital to invest in future growth; buy more time in tough situations; or facilitate succession, ownership transition, or exit strategies. Ravinia specializes in merger and acquisition advisory services, capital raises (including debt refinancing), and helping clients develop and execute strategic action plans. The firm has distinguished itself through earning a reputation for successfully working with clients to understand their unique circumstances and make the most of the range of possible options available to them.

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Michael Shanahan