NEW YORK, Jan. 9, 2025 -- Backcast Partners ("Backcast"), a leading provider of debt and equity capital for middle-market companies, is pleased to announce its most recent investment in support of M&R Group Holdings, LLC's ("M&R" or the "Company") refinancing of existing senior debt. M&R is an existing portfolio company of Corinthian Capital Group ("Corinthian").
Founded in 1985 and headquartered in Roselle, Illinois, M&R is the leading manufacturer of apparel screen printing equipment globally, with a growing presence in digital printing equipment. The Company offers its customers a wide array of proprietary machinery utilized to apply decorative designs to garments. M&R has been a leader within the apparel printing industry for decades, with an unmatched breadth of machinery and service capabilities, including screen, digital, hybrid, and film printing systems.
Danny Sweem, CEO of M&R, said, "We're very excited to work with Backcast as M&R continues its strong growth into 2025 and beyond. This new credit facility will help us continue to provide world-class service to our customers, and remain at the forefront of developing leading garment printing technology."
Peter Van Raalte, Co-Founder of Corinthian, said, "We're thrilled to be partnering with Backcast in supporting M&R's growth. Ed Cerny and the team at Backcast have now closed multiple financings with Corinthian portfolio companies, and we value the longstanding partnership."
Ed Cerny, Managing Partner at Backcast, added, "My partners and I have had nothing but success backing Corinthian in investments dating back to 2012, but we are particularly excited about this latest investment in M&R. M&R not only holds a dominant market position in a highly durable and growing niche industry, but it is at the forefront of technological advances within that industry. Their management team is best-in-class and we are really looking forward to working with them and Corinthian to facilitate their growth."
Backcast was represented in the transaction by McGuireWoods LLP.
About Backcast Partners
Backcast Partners, formed in 2016, manages value-additive, credit-focused private investment funds providing capital to both private-equity backed and privately held management-owned companies. With approximately $1.3 billion in assets under management, the Backcast team has been supporting traditional middle-market companies ($7.5 million to $50 million of EBITDA) for decades. Backcast's managed funds have a very flexible capital mandate and seek to invest from $20 million to up to $150 million per transaction. Backcast Partners operates out of offices in New York City and Millburn, NJ.
Information for Companies Seeking Capital, please contact:
Mark Gudis, Managing Partner
mgudis@backcastpartners.com
(973) 512-7487
www.backcastpartners.com
Investor Information, please contact:
David Petrucco, Managing Partner
dpetrucco@backcastpartners.com
(973) 512-7482
www.backcastpartners.com
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