| Voorhees,
NJ, June 17, 2010 - A.F.L. Web Printing is pleased to announce
it has secured additional financing from Westbury Investment
Partners, SBIC, L.P. through a recapitalization plan designed
to enhance the Company’s working capital. A.F.L. is
now well positioned to take advantage of opportunities in
the newspaper business as the industry consolidates and
outsources their printing operations. With their multi-million
dollar equity investment, Westbury Investment Partners is
now the majority owner of A.F.L.
Westbury Investment
Partners, SBIC, L.P. is a private equity fund launched by
Westbury Partners, a leading provider of flexible preferred
equity and subordinated debt capital. Westbury supports
proven, successful teams that are managing businesses with
predictable revenue streams, expanding markets, existing
or near-term profitability, and discernible competitive
advantages. “As opportunistic investors we focus on
businesses that possess strong growth potential,”
said James W. Schubauer II, President and Chief Operating
Officer of Westbury. “We have been a minority shareholder
in A.F.L. since 2008 and I have tremendous respect for the
A.F.L. team.”
A.F.L.
also recently announced an operational restructuring at
its Secaucus plant which will make the Company even more
efficient. “This restructuring allows us to run the
existing level of sales through our two plants with a significantly
improved cost structure while remaining well positioned
to take advantage of future growth.” said Schubauer.
“With these enhancements, A.F.L. will be better situated
to provide the high level of service that its customers
have come to expect.”
|
As
a result of this transaction A.F.L. has created a more effective
capital structure which will enable the Company to take
advantage of current opportunities within the newspaper
industry as well as execute on future prospects. “We
are happy to demonstrate our support of the Company’s
long term strategic direction,” continued Mr. Schubauer.
“Westbury’s investment reflects our enthusiasm
for A.F.L. and this opportunity.”
A.F.L.
Web Printing is the Publisher’s Resource of Choice in
the Mid-Atlantic region for over 350 national, regional and
local publishers. Our strategically located Regional Print
Centers in Voorhees and Secaucus, New Jersey contain over
one quarter million square feet of production capacity and
provide our publishing customers unparalleled opportunities
for growth. In addition to printing, A.F.L. offers a full
range of services including sales support, finishing, mailing
circulation services, and delivery.
For more information please contact:
Mark Henderson: 856.566.1270 or mhenderson@aflwebprinting.com |
