York Label renegotiates debt

York Label’s private equity sponsor, Diamond Castle Holdings, and the company’s management team have acquired USD $32m of York Label senior and subordinated debt and renegotiated terms and conditions with its banking partners. The transaction was completed on August 12.

As a result of this transaction, York’s overall debt is reported to have been ‘significantly reduced’ and its cash flow improved, and the company says that investment in new technologies will continue.

York Label president and CEO John McKernan commented: ‘This equity infusion will allow us to continue investing in new technology, new capacity, new capabilities, productivity improvement and strategic acquisitions.’

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