Chicago Growth Partners Completes Dividend Recapitalization Of AnaJet

AnaJet’s rapid growth leads to early refinancing and return of 50% of invested capital.

Chicago Growth Partners is pleased to announce it has completed a dividend recapitalization of AnaJet, the market leader in digital printing technology for the global textile industry.  Proceeds from the transaction were used to refinance the company’s existing bridge debt and pay a dividend to shareholders.  The recapitalization was funded through a credit facility underwritten by Fifth Third Bank that will continue to support the company’s expected growth.

The transaction returned an amount representing approximately 50% of invested capital less than a year after CGP’s initial investment.  CGP acquired AnaJet in November 2010 based on the company’s highly engineered, differentiated products and the expected growth in digital textile printing.  Despite economic headwinds since CGP’s investment, AnaJet has grown rapidly due to the addition of proven, growth oriented executives, enhanced sales and marketing and the continued enhancement of the company’s specialized digital printing products.

AnaJet’s digital apparel printers are electro-mechanical systems utilizing highly customized inkjet technologies which require specialized engineering expertise and proprietary know-how in the areas of mechanical design, electronic control systems, and imaging software as well as overall system engineering, integration and testing.  Demand for AnaJet’s products is growing, as digital textile printing technology has taken share from traditional analog methods.  The shift to digital technology is driven by ease-of-use, cost efficiency and growing demand for customization by consumers.  AnaJet has a presence in 31 countries across the globe and is expanding distribution in Asia and South America.