Bloomingdale, NJ – September 01, 2009 – VMC Group, a leading manufacturer of vibration isolation, seismic design and shock control systems, refinanced its senior and subordinated debt in conjunction with repurchasing shares from its previous mezzanine investor. Fifth Third Bancorp led the $21 million refinancing with a combined senior and mezzanine financing package.
“We are pleased to have completed a successful recapitalization during one of the most turbulent periods in the history of the debt markets,” said John Wilson, Jr., Chief Executive Officer, VMC Group. VMC Group’s sales had grown over 125% since its initial buyout in 2005 and the new capital positions VMC Group for its next stage of growth. Due to its strong performance in a soft economy, VMC Group received several term sheets from lenders. “Fifth Third was a reliable and creative partner in this process and they moved decisively to complete the transaction within the targeted terms and timeframe,” Mr. Wilson added.
