York Label, an Omaha, Neb.-based provider of labeling and packaging solutions to the consumer products, pharma and food and beverage segments, said that it has purchased $32 million of its senior and subordinated debt, in partnership with existing sponsor Diamond Castle Holdings.
YORK Label is pleased to announce that its private equity sponsor, Diamond Castle Holdings and the Company’s Management Team have successfully acquired $32M of YORK Label senior and subordinated debt and renegotiated favorable new terms and conditions with its banking partners. The transaction was completed August 12th.
As a result of this transaction, overall debt for YORK Label is significantly reduced and cash flow is further improved. The company will continue to invest in technology and manufacturing assets which bring exceptional value to its customers and drive profitable growth for YORK Label.
Some recent examples of new investment by YORK Label include:
— Acquisition of 3 brand new “state of the art” label printing
presses in its flagship York, PA facility.
— Establishment of pharmaceutical label capacity in the U.S.,
complementing the existing capability in Canada.
— Facility investments to drive additional efficiency in its Canadian
— Increased R&D spending to accelerate innovation with particular
focus on graphic effects, environmental sustainability and late stage
YORK Label President and CEO John McKernan comments, “This equity infusion will allow us to continue investing in new technology, new capacity, new capabilities, productivity improvement and strategic acquisitions. As an organization we are committed to executing our strategy to deliver exceptional quality, service and value to our customers in a sustainable manner.”
About YORK Label
Omaha, NE based YORK Label is a leading provider of high quality, innovative labeling and package decoration solutions to global consumer products, wine and spirits, pharmaceutical and, food and beverage companies. YORK Label has production facilities throughout North America and a joint venture in Chile. The company employs more than 700 dedicated associates. For more information please visit www.yorklabel.com.
About Diamond Castle Holdings, LLC
Diamond Castle Holdings, LLC is a private equity firm with over $1.85 billion of committed capital under management. Founded in 2004, Diamond Castle specializes in leveraged buyouts, growth capital and equity-like investments in both public and private companies. Diamond Castle targets investments in the following industry sectors: media and communications, energy and power, financial services, healthcare and diversified industries. Diamond Castle has 25 employees located in New York, New York. For more information please visit www.dchold.com.