Rauch Industries, Inc. Announces the Refinancing of its Revolving Credit Facility
Gastonia, NC, October 9, 2009 – Rauch Industries, Inc. (“Rauch”) an affiliate of Blackstreet Capital Partners I, announced today the completion of its refinancing with Eagle bank. Eagle bank is providing a revolving credit facility to the Company to address its seasonal working capital needs.
“The Rauch business has undergone a complete transformation in the last several years, which has culminated in the refinancing with Eagle bank. A stable and profitable company, Rauch is now better capitalized than ever to take advantage of a variety of growth opportunities,” said Heather Shepardson, CEO of Rauch.
###
About Rauch Industries, Inc.
Founded by the Rauch Family in 1952, Rauch Industries designs and distributes its leading brands of holiday and seasonal goods through mass retailers, department stores and independent gift retailers. After acquiring Christopher Radko®, the leading distributor of fine European glass ornaments, the two entities were integrated leveraging distribution channels, marketing efforts and operational support. Rauch recently expanded it offering with the introduction of Celebrations by RadkoTM, a fun young contemporary brand to be distributed nationwide while its high-end Christopher Radko® brand will continue to be offered by more than 750 specialty stores, including major department stores and independent gift retailers. For more information about Rauch Industries and its brands, please call 1-800-71-RADKO.
About Blackstreet Capital
Blackstreet Capital Management, LLC (www.blackstreetcapital.com) is a Chevy Chase, MD based private equity firm with $200 million of capital under management. Blackstreet focuses on control buyouts of companies that are either underperforming, in out-of-favor industries or are undergoing some form of transition. Blackstreet seeks investments in a range of industries, including manufacturing/distribution, restaurants, specialty retail, business services and health care. BCM is currently investing Blackstreet Capital Partners II, a $106 million fund.