Camsing Global's Assets Sold to Capital Supply Group Inc.
Meridian PO Finance LLC, senior secured lender to Camsing Global LLC, has agreed to sell all of the assets of Camsing Global LLC to Capital Supply Group Inc. The sale is expected to be completed over the next few weeks. Camsing Global LLC entered the promotional products market with three acquisitions throughout 2011 and has worked hard to turn the unprofitable businesses around. This transaction will provide the top industry brands of Adva-Lite, Avaline, Dart Business Accessories, Drinx, Falcon Promotional Products, It's All Greek to Me, StyleWrite and Toppers the necessary capital structure to support continued growth. The management team at Capital Supply Group anticipates making further announcements regarding plans for the acquired assets once the transaction is finalized.
"I am very excited about the potential that comes with the history rich brands that we will be acquiring," Dan Reeb, managing director of Capital Supply Group Inc., said. "The management team of Camsing Global LLC signed up for a very tough task when they purchased these assets. I am most impressed with what they were able to accomplish with the limited resources that were available to them. We believe that with the right financial support and structure, these brands will be restored to greatness very quickly."
Vivian Lo and her multiple companies that comprise Camsing Global in China are unaffected by this transaction. These Chinese operations are unrelated to Camsing Global LLC, have separate ownership and are expected to continue expansion in the China market.
For more information, visit www.camsingglobal.com.