Pittsburgh, Pennsylvania – April 28, 2017
LM+Co Capital, a New York-based middle market investment banking firm, announced today the successful refinancing of its client TruFood Mfg., Inc. (“TruFood”), based in Pittsburgh, Pennsylvania. BHI (Bank Hapoalim B.M.) and AloStar Capital Finance acted as co-agents on the refinancing transaction. Financial terms of the transaction were not disclosed.
TruFood is a leading East Coast snack food contract manufacturer of well-recognized brands serving the health-conscious, “on-the-go” consumer market. This family-owned business operates in the highly competitive Contract Food Manufacturing Industry where high-touch customer service, quality product execution and new product development is critical to success. TruFood manufactures a full range of snack products including granola products, baked bars, nutrition bars, layered protein bars and molded chocolate products.
Richard Zytkowicz, Managing Director with LM+Co Capital, stated “LM+Co Capital is delighted for Pete Tsudis and his management team as they embark on the next chapter of the TruFood legacy. Mr. Tsudis is a very successful CEO and operator with a proven track record in the Contract Food Manufacturing Industry. The completion of this refinancing transaction affords TruFood the opportunity to further expand its product offerings and establish a solid platform to explore and launch additional growth initiatives. We are honored to have been involved in such an exciting transaction”.
TruFood President and Chief Executive Officer Pete Tsudis noted, “Our partnership with Rick and the LM+Co team has been tremendously successful. They provided invaluable support and expertise throughout our refinancing process”.
About TruFood Mfg., Inc.
TruFood was founded in 1985 by Spiro Tsudis, father of current CEO, Peter Tsudis, to produce children’s fundraising chocolate candy. When Pete assumed control of TruFood in 2001, he quickly realized the various trends in the snack food market were changing to healthier forms of snack consumables and began to position TruFood to capture these manufacturing opportunities.
Today, TruFood partners with various multi-national companies to manufacture a variety of well-recognized snack brands. TruFood has a large presence on the East Coast with over 350,000 sq.ft. of state-of-the-art manufacturing facilities and continues to grow through its strong reputation for manufacturing high quality snack products for its marquee customer base.
About LM+Co Capital
LM+Co Capital is an independently operated affiliate of Loughlin Management Partners + Company, a multi-disciplinary professional services firm focused on the middle market. LM+Co Capital, a registered broker dealer and member of FINRA/SIPC, is solely focused on the middle market, providing investment banking and advisory services to corporations, investors, private equity groups and business owners. LM+Co Capital offers its clients years of experience in Mergers + Acquisitions, Capital Advisory, Financial Restructuring and Business Valuations.
About Bank Hapoalim B.M. (“BHI”)
BHI offers full commercial banking services that combine the personal attention and responsiveness of a prestigious boutique bank with the expertise and financial strength of a global bank. With a footprint in the largest U.S. metropolitan areas, BHI is committed to creating innovative funding solutions for long and short term needs, and providing convenient banking and liquidity products for everyday business needs.
As part of the Bank Hapoalim Group, BHI is backed by the financial strength of a leading financial institution, giving BHI’s U.S. customers access to business financing from one of the world’s most stable banking environments.
About AloStar Capital Finance
AloStar Capital Finance offers needed capital and counsel to business leaders across America who are creating their own success stories. Through our Business Credit, Lender Finance and Real Estate Finance platforms, we create customized lending solutions for customers with capital requirements up to $60 million. To date, AloStar has closed more than 160 deals with commitments totaling more than $2 billion. At AloStar, you’ll have ready access to decision makers with deep capital industry experience who are responsive, flexible and eager to help you write your success story.
AloStar Capital Finance is a trade name of AloStar Bank of Commerce, Member FDIC. For more information, visit www.AloStarBank.com.
*LM+Co Capital is an independently operated affiliate of LM+Co. A licensed broker dealer, LM+Co Capital is registered with FINRA, SIPC. For a summary of LM+Co Capital’s registration with FINRA, go to BrokerCheck.