Brown Gibbons Lang & Company (“BGL”) announced today that its client, Ashton Potter USA Ltd. (“Ashton Potter” or the “Company”) has closed on the refinancing of its existing credit facility with RBS Citizens, N.A. and F.N.B. Capital Corporation, LLC.
Based outside of Buffalo, New York, Ashton Potter is a leading high security printer and one of the world’s largest manufacturers of postage stamps. Since 1991, the Company has been a trusted supplier of stamps to the United States Postal Service (“USPS”). The Company also prints stamped envelopes and cards for the USPS as well as tax/revenue stamps for domestic and foreign governments. In addition, Ashton Potter is expanding its business into the large and growing brand protection industry, a market focused on preventing fraud and counterfeiting activities.
“We are extremely pleased with our new financing partners and are collectively excited about the Company’s future,” stated Barry Switzer, President and CEO of Ashton Potter. “BGL’s experience and relationships in the capital markets allowed us to significantly improve our cost of capital and enabled our team to focus on running the business.”
John Tilson, managing director & principal at BGL, said, “We are pleased with the results of the transaction and extremely impressed with Ashton Potter’s successes to date and its future growth prospects, including those in the rapidly growing brand protection and anti-counterfeiting markets.”
John Tilson and Joe Boleski led the BGL transaction team.
Citizens Financial Group, Inc. (“CFG”) is a $148 billion commercial bank holding company. It is headquartered in Providence, R.I., and, through its subsidiaries, has more than 1,500 branches, more than 3,500 ATMs and approximately 22,700 employees. Its two bank subsidiaries are RBS Citizens, N.A. and Citizens Bank of Pennsylvania. They operate a 12-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont, and the Charter One brand in Illinois, Michigan and Ohio. CFG has non-branch retail and commercial offices in about 40 states. CFG is owned by RBS (The Royal Bank of Scotland Group plc).
F.N.B. Capital Corporation, LLC is headquartered in Pittsburgh, Pennsylvania. A subsidiary of F.N.B. Corporation, it specializes in providing subordinated debt, private equity, and other types of financial capital to small and medium sized commercial enterprises, focusing on recapitalizations, buyouts, generational transitions, mergers and acquisitions, and other growth capital needs.