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Griffin Financial Advises Lynch Exhibits in Refinancing of Debt Facilities

February 25, 2014, 07:17 AM

Griffin Financial Group announced it advised Lynch Exhibits in the company's recent recapitalization and refinancing of its existing credit facilities.

Lynch Exhibits, Inc. is engaged in the design and fabrication of trade show exhibits, permanent displays/environments, and point of purchase exhibits. In addition to its products, Lynch provides a full range of services to customers, which include storage of existing exhibits and displays, coordinating and supervising logistics, assembly/disassembly, and routine maintenance/troubleshooting. Lynch's customers include large, multi-national brands in the consumer electronics and pharmaceutical industries, among others. The company is headquartered in Burlington, NJ, with an additional location in Las Vegas, NV.

As a result of prolonged economic downturn and a contraction of spending from corporate clients, Lynch suffered from constrained liquidity and excessive leverage. After addressing and improving the company's operational structure, which included optimizing facilities and overhead, management was able to rebuild the business and take advantage of improving economic conditions. However, the resulting leverage from the downturn left the Company with the need to replace their existing senior lending partner. Management hired Griffin as their exclusive investment banker in order to facilitate this transaction.

As the company's investment banker, Griffin structured a sale-leaseback transaction for Lynch's main facility, which generated the excess liquidity necessary to repay the senior lender in full, and replaced the revolving credit facility with a new lending partner. In addition, Griffin negotiated lease terms for the sale-leaseback transaction which reduced Lynch's monthly payments when compared to the company's existing mortgage, further improving Lynch's monthly cash flow and liquidity moving forward.

Griffin Financial Group provides merger and acquisition advisory, capital formation, structured finance and strategic consulting services to the financial institutions, insurance, commercial and industrial, retail, services, technology and telecommunications and private equity sectors in addition to assisting businesses facing special situations. Griffin is part of the Stevens & Lee/Griffin family of companies.

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