Exclusive advisor to Mayfair Capital Partners and Innovative DisplayWorks, Inc.
KPMG Corporate Finance LLC acted as exclusive advisor to Mayfair Capital Partners and Innovative DisplayWorks, Inc.
KPMG Corporate Finance LLC (“KPMG CF”) acted as exclusive financial advisor to Mayfair Capital Partners in connection with securing a new asset-based credit facility for its portfolio company, Innovative DisplayWorks, Inc. (“IDW” or the "Company"). Mayfair Capital Partners is a division of Oxford Financial Group, Ltd.
Founded in 2000, IDW is a designer and distributor of mission-critical commercial refrigeration and point-of-purchase displays that are placed in high traffic locations throughout the retail shopping landscape. In a rapidly changing retail environment, IDW’s retail merchandising solutions help customers win in the marketplace by driving impulse sales for beverage brands.
The Company was negatively affected by external factors such as supply chain issues and trade tariffs. As the Company’s accounts receivable and inventory provided significant asset coverage, Mayfair and IDW were looking to refinance its cash flow-based credit facility with a new asset-based credit facility to position the Company for future growth and optimize its capital structure.
KPMG CF approached a targeted universe of asset-based capital providers, including banks and non-bank credit funds, and successfully raised a new asset-based credit facility to refinance its existing debt. The process navigated a volatile credit market, which was exacerbated by the fall-out of several regional banks. Mayfair and IDW ultimately selected a regional bank that provided an aggressive borrowing base with highly competitive pricing. KPMG CF’s in-depth knowledge of the credit markets and relationships with an array of capital providers was critical to completing the transaction.
Quay Brown, Chief Executive Officer at Innovative DisplayWorks, said: “On behalf of everyone at IDW, I want to send a thanks to the entire extended team that worked on this deal. This is huge for us and we couldn’t be happier with all of the teamwork and professionalism it took to get us over the finish line.” Robert Ramsey, Co-Managing Partner & Chief Investment Officer at Oxford, said: “This was tremendous work and collaboration by Mike Rudolph and the KPMG team and Quay Brown, Geoge Ioannou, and the IDW team getting to this result. It was a great outcome in a really tough credit environment. We are very pleased with the results.”
Global coverage. Industry knowledge. Middle-Market focus
The global Corporate Finance practice of KPMG International’s network of independent member firms was ranked #1 as the top M&A mid-market adviser globally by Refinitiv, based on number of completed transactions, for the past 20 years.
KPMG Corporate Finance LLC
KPMG Corporate Finance LLC provides a broad range of investment banking and advisory services to its domestic and international clients. Our professionals have the experience and depth of knowledge to advise clients on global mergers and acquisitions, sales and divestitures, buyouts, financings, debt restructurings, equity recapitalizations, infrastructure project finance, capital advisory, portfolio solutions, fairness opinions, and other advisory needs.