Feb 9, 2024

Capstone Partners Advised The Ohio Art Company on the Placement of a Senior Credit Facility

Capstone Partners’ Debt Advisory Group advised the Ohio Art Company—a world-class metal lithographer—on the placement of a senior credit facility with Huntington National Bank. The proceeds were used to fund the acquisition of Allstate Can Corporation and Allcan West, LLC (together “Allstate”), repay existing debt balances, and pay related transaction expenses. Terms of the deal were not disclosed.

Ohio Art, founded in 1908, produces custom metal signs, metal prints, custom tins, and metal packaging products and is considered one of the leading metal lithographers in the world. The company manufactures custom metal lithography products for food container and specialty premium markets, and leading products include food tins, enclosures, DVD cases, and nostalgic signs. Learn more about the Ohio Art Company here.

Allstate, based in New Jersey, is a specialty tin can packaging company that operates in multiple segments including food, chemicals, cosmetics and children entertainment products segments and offers a variety of tin can types, such as interior seal, tapered, friction, seamless, slipcover, hermetic sealed, decorative and custom/printed cans.

In connection with the acquisition, Ohio Art also engaged Capstone’s Financial Advisory Services (FAS) team to provide buyside M&A advisory services and conduct a Quality of Earnings review on the target business. Learn more about the FAS engagement here.

“Ohio Art is a company poised for continued growth with deep customer relationships, a compelling value proposition, and a resilient business model, and we were honored to have advised the company on this transaction,” said Kent Brown, Managing Director with Capstone’s Debt Advisory Group. “It was a pleasure working with the management team and we are delighted to have played a part in supporting their continued success.”

The expert investment banking professionals Capstone Partners work with leading middle market companies to maximize financial outcomes at every stage of the business lifecycle. Our firm has developed a full suite of corporate finance solutions, including M&A advisory, debt advisory, financial advisory, and equity capital financing to help privately owned businesses and private equity firms address any need, ranging from growth and financial or operational advisement to an ultimate exit transaction. To learn more about this transaction, or about the benefits of starting a relationship with our Debt Advisory Group, contact us.