• Corporate Finance Transactions

Brown Gibbons Lang & Company Announces Completion of Lesco, Inc. $122.3 Million Refinancing

January 17 2002

Brown Gibbons Lang & Company ("BGL") today announced that its client, LESCO, Inc. ("LESCO") (Nasdaq:LSCO), has successfully completed the refinancing of its principal debt agreements in a new $122.3 million senior secured credit facility. BGL served as exclusive financial advisor, helping to structure and negotiate the transaction. LESCO is a publicly held leading provider of products for the golf and professional turf care market. The Company's product lines are comprised of consumable goods, including control products, fertilizer and grass seed, and hard goods, including equipment, accessories and other related products. BGL was engaged by LESCO to negotiate with the existing lenders and noteholders and to source, negotiate and structure the terms of the new senior credit facilities.

The new facility includes a $115 million revolving credit facility and a $7.3 million term loan. The facility provides increased availability for seasonal working capital needs, less restrictive loan covenants and a longer maturity profile. PNC Bank served as the Agent for the financing.
 
About Brown Gibbons Lang & Company:
Brown Gibbons Lang & Company is a Midwest-based investment banking firm serving middle market businesses nationally and internationally. In the past four years, BGL has completed more than $3 billion of M&A transactions, more than $700 million of institutional private placements, and more than a dozen corporate restructurings. BGL's Restructuring Group has helped many debt-laden companies reposition themselves to build long-term value, bringing a decade of transaction experience that includes out of-court debt restructurings, bond exchange and tender offers, private placements of debt and equity and distressed sales of business units, both in and out of bankruptcy court.
 
 
About LESCO, Inc.:
LESCO is a specialty provider of products for the professional turf care market. Serving more than 130,000 customers worldwide, LESCO distributes through 227 LESCO Service Centers, 78 LESCO Stores-on-Wheels, lawn care service representatives and other direct sales efforts. Sales in 2000 totaled $499.6 million.
 
Additional information about LESCO can be found on the Internet at www.lesco.com

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