Katun Corporation, a Minneapolis, Minnesota-based provider of OEM-compatible imaging supplies, toner, photoreceptors, and parts for copiers, printers, and other imaging equipment, completed a $52 million recapitalization.
HSBC Bank USA, National Association and Comvest Capital III, L.P. provided Katun with financing for the recapitalization.
The proceeds were used to repay Katun’s existing debt and to pay a substantial dividend to shareholders. Following the recapitalization, Katun remains conservatively capitalized with the continued support of Monomoy Capital Partners, a private equity firm focused on the lower middle market with over $1 billion of assets under management, which will continue to own 95% of the business following the recapitalization*.
Led by Sebastian Bretschneider, Interim Chief Executive Officer, Katun is a supplier of compatible imaging supplies, photoreceptors, parts and accessories for copiers, multifunctional devices and printers. The company operates distribution facilities in the United States and Europe; additional warehouses in Mexico and Singapore; and 16 sales/customer service offices throughout the world. Katun serves 12,600 customers with 5,300 products in over 130 countries throughout the world.
*Monomoy owns Katun through its first fund vehicle, Monomoy Capital Partners, L.P.
FinSMEs
26/01/2016