Horowitz / Rae Book Manufacturer, Inc.

Client Profile
Horowitz/Rae (‘Horowitz/Rae’ or the ‘Company’) was a premier printing and bookbinding operation focusing on short run book publication, including children’s books, corporate books, and other specialty publications.
Situation
Ownership sought to refinance the business upon emerging from Chapter 11 in May 1995 with SSG’s assistance. Horowitz/Rae had emerged from Chapter 11 four months prior with a bridge loan from a senior lender and was under pressure to refinance the bridge facility.
Solution
The refinancing allowed Horowitz/Rae to refinance out an expensive bridge loan; dramatically increase its working capital base to support its increased revenue base upon emerging from Chapter 11, as well as, support its capital expenditure requirements which had been neglected while the Company was operating in Chapter 11.