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| Client: |
Lason, Inc. ("Lason" or the "Company") |
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| Purchaser: |
Charter Lason, Inc., an entity backed by private equity firm Charterhouse Group International ("Char |
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| Business: |
Lason is an emerging leader in the rapidly growing business process outsourcing ("BPO") market, providing outsourced document and data management services to Fortune 1000 customers. Lason's services enable customers in data and document-intensive industries to improve their business processes, reduce back-office costs and minimize capital spending on information technology. |
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| Client Objective: |
After a comprehensive restructuring and emergence from Chapter 11 Bankruptcy, Lason's balance sheet was still overleveraged. Management believed that a recapitalized balance sheet, backed by a supportive investor group, would enable Lason to capitalize on a number of existing market opportunities in the BPO space. |
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| Results: |
BGL, through a targeted, comprehensive auction process, generated significant interest from the private equity and senior secured lending community. After a transaction under letter of intent fell apart in due diligence, and after Management dedicated significant resources toward realigning Lason's business strategy, BGL reapproached the market, again generating significant continued interest in the transaction. Ultimately, Charterhouse was selected as the sponsor best suited to help support Lason's future growth initiatives. BGL also advised the Special Committee of the Independent Board of Directors of Lason and provided the Special Committee a fairness opinion on the proposed transaction.
BGL's transaction versatility and capital markets expertise were invaluable over the course of this successful transaction, and as a result, Lason has ceased reporting as a public company, repaid its lenders in full, obtained strong private equity backing and new committed lenders, and pos |
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