Opus Bank is pleased to announce it provided:

Title: Source Technologies
Amount: $7,124,000
Month: March
Year: 2016

Source Technologies

Opus Bank’s Corporate Finance division provides $7,124,000 in senior debt financing for the recapitalization of Source Technologies, a portfolio company of StoneCalibre LLC

Overview of Transaction

Founded in 1986, Source Technologies® manufactures Magnetic Ink Character Recognition (“MICR”) laser printers, and provides consumables (toner), maintenance, software and accessories to a global manufacturer of laser printers. The company also designs and manufactures self-service kiosks for financial transactions, such as bill pay & Personal Teller Machines, which automate customers’ banking operations.

Significance of Transaction

  • After the successful execution of its initial growth plan, the private equity owners at StoneCalibre LLC (“StoneCalibre”) looked to recapitalize Source Technologies to provide for a liquidity event and to establish a more optimal capital structure.
  • Given the asset-light nature of the business, the financing structure required an enterprise value approach to lending.

Opus Bank's Role

  • Opus partnered with StoneCalibre on a previously executed transaction.
  • Opus provided an improved capital structure and lower cost of debt for the company through a term loan and a formula-based revolver.

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