Chicago, IL, September 2013 – Johnson Publishing Company, publisher of EBONY and JET magazines, and parent company of Fashion Fair Cosmetics has announced the successful closing of a revolving credit facility with Gibraltar Business Capital. The credit facility was designed specifically to allow Johnson Publishing to continue its strategic plans for growth. FocalPoint Securities, LLC served as exclusive financial advisor to the Johnson Publishing Company.
We are pleased to enter into this alliance with Gibraltar Business Capital, as it will help us to continue building on the Johnson Publishing Company legacy,” said Linda Johnson Rice, Chairman of Johnson Publishing Company. “This relationship will allow our company to execute our strategic goals, strengthen our brands and lead to future growth.”
Desiree Rogers, CEO of Johnson Publishing Company added, “As the curator of the African American experience – past, present and future – we are thrilled to work with Gibraltar Business Capital as we reposition this iconic firm. The African- American segment continues to be important to American businesses and we are at the forefront.
“We appreciate the opportunity to work closely with Johnson Publishing and FocalPoint on designing a credit facility in a timely manner, that will not only support Johnson Publishing’s anticipated growth, but also enable the company to deliver on its strategic initiatives,” said Darren Latimer, CEO of Gibraltar Business Capital. “Johnson Publishing is truly a leader in its industry with a strong heritage. Working with the company’s management team on maintaining that legacy is a tremendous point of pride.”
Thomas Mills, Managing Director at FocalPoint commented, “We are pleased to have partnered Johnson Publishing with Gibraltar Business Capital. I have no doubt that Johnson Publishing will continue to execute on its transformational growth plan, and having a capital partner that understands the dynamics of the publishing industry and appreciates the importance of the Johnson Publishing legacy will prove beneficial to all parties.”
About Johnson Publishing Company, LLC
Johnson Publishing Company (JPC) was founded in 1942 by John H. Johnson and is a lifestyle company inspired by the African-American experience. JPC is the preeminent publisher of EBONY and JET magazines and the parent company of Fashion Fair Cosmetics. The company has had an unparalleled impact on Black America and reaches more than 70% of African-Americans adults annually.
About Gibraltar Business Capital
Gibraltar Business Capital provides small- to medium-sized business owners fresh and accessible capital alternatives to a commercial bank loan. With fast, flexible asset based lending and factoring solutions, Gibraltar acts as a bridge to financial stability, delivering lines of credit and specialized funding that allow enterprise to meet their business objectives. Gibraltar Business Capital is a multifaceted company strategically positioned with the portfolio, infrastructure, personnel and resources to support its clients across the United States. Headquartered in Chicago, offices are also maintained in New York, Houston, Los Angeles, Detroit and Atlanta. For more information visit www.gibraltarbc.com.
About FocalPoint Securities, LLC
FocalPoint is an independent investment bank with offices in Los Angeles and Chicago, specializing in mergers and acquisitions, private placements (both debt and equity), and financial restructurings/work-outs. The firm’s primary focus is working with middle-market companies. For more information visit www.focalpointllc.com.