Duramark Products, Inc. (previously known as Ritrama USA, “Duramark” or the “Company”) is a manufacturer and distributor of pressure-sensitive, adhesive-backed films that has served customers throughout North America for more than 50 years. The Company operates through two key divisions, Roll Label and Cast Vinyl Films (i.e. Graphics). Formerly headquartered in Cleveland, Ohio, the Company maintains a facility in Minneapolis, MN, and recently moved its headquarters to Spartanburg, SC, where it built a new production and warehouse facility that is recognized as “world class” within the industry due to its fully automated state-of-the-art technology.
Duramark was formerly a division within a multi-national parent company based in Europe until recently becoming a stand-alone company with its headquarters in the United States. Following its separation from the former parent company, Duramark engaged Candlewood to recapitalize the business with domestic capital partners who could provide increased liquidity and position the Company for future growth.
Candlewood assisted the Company through an in-depth analysis of its current capital structure and funding alternatives that would satisfy both its current liquidity needs and its future growth objectives. Candlewood executed a tailored outreach strategy focused on asset-based lenders, leveraging the Company’s strong portfolio of assets to provide the Company with a cost-efficient solution. Throughout the process, Candlewood led in the negotiation and structuring discussions with capital partners and played a critical role in closing a senior secured loan that fulfilled the Company’s objectives.
Subsequent to the above transaction, Duramark was acquired by Mactac®, a LINTEC Company, which was announced in April 2021.