Merrimac Paper Company, Inc., a manufacturer and marketer of paper and converted products, retained Shields & Company to assist in redeeming the stock of the company’s founding family, which desired liquidity for its majority interest in the company. Merrimac Paper Company was able to renegotiate an $11,000,000 line of revolving credit and a $14,730,000 term loan. Shields & Company was successful in structuring a transaction which would enable management to increase its ownership interest in Merrimac, as desired, and which provided liquidity for the founding family. The company was recapitalized using senior debt as well as equity capital provided by management.
Shields & Company acted as a financial advisor to Merrimac Paper Company, Inc. and arranged the above financing.