Partner Steven Steinman noted for representation of Cortec Group Inc. in its acquisition of Fasteners for Retail Inc., <i>The Daily Deal,</i>

Partner Steven Steinman noted for representation of Cortec Group Inc. in its acquisition of Fasteners for Retail Inc., The Daily Deal, "Cortec Acquires Retail Fixtures Maker from Linsalata for $231M"

In its June 10th issue of The Daily Deal, an article entitled "Cortec Acquires Retail Fixtures Maker from Linsalata for $231M" notes that "New York buyout firm Cortec Group Inc. has acquired Cleveland's Fasteners for Retail Inc., which makes store shelving and point-of-purchase merchandising products, from Linsalata Capital Partner in a secondary buyout valued at $231.5 million. Antares Capital Corp. led a syndicate including Madison Capital Funding LLC and Dymas Capital Management LLC, which are providing $115 million in senior debt to support the purchase. In addition, the company has a $30 million undrawn revolving credit facility at its disposal. AIG Global Investment Corp. is providing mezzanine debt....Cortec, which invests in middle-market manufacturing and service-related businesses, closed the deal May 27 with a roughly $70 million equity investment....Fried, Frank, Harris, Shriver & Jacobson LLP partner Steve Steinman was Cortec's counsel."

news-detail.inc