30 May Amherst Advises on Refinance of Ritzman Pharmacy
Amherst Partners, LLC (“Amherst”) is pleased to announce the successful refinance of Ritzman Pharmacy (“Ritzman”), where Amherst’s Restructuring Advisory Group acted as exclusive financial advisor to Ritzman in connection with the refinancing.
About Ritzman Pharmacy
Ritzman, established in 1950, is headquartered in Wadsworth, Ohio, and operates 23 retail pharmacy locations in communities surrounding Akron. Ritzman specializes in providing highquality, personalized service and professional excellence generally not found in big box competitors in the pharmacy industry. Familyowned and operated since its inception, Ritzman prides itself on being a familiar and treasured institution in the communities it serves.
About The Engagement
Amherst’s Restructuring Advisory Group was initially engaged to assist Ritzman with an assessment of its current operations, including a storebystore review of financial performance. Overtime, management expanded Amherst’s role to include assisting with the development and evaluation of various strategic alternatives, including the financial implications of those alternatives. Ultimately, Amherst assisted Ritzman in soliciting and evaluating senior debt proposals from multiple lending institutions, with AloStar Bank of Commerce being selected as a result of this process. The refinancing was closed in 80 days from project inception, allowing Ritzman to expedite implementation of its strategic growth plan.
Stark & Knoll Co., L.P.A., provided legal counsel to Ritzman on the transaction.
About Amherst Partners
With a track record that spans over 20 years, Amherst Partners is one of the Midwest’s most reputable boutique restructuring advisory and investment banking firms. Among its core services, Amherst provides middlemarket companies with significant financial advisory expertise for corporate restructurings, business divestitures, acquisitions and corporate finance transactions. Our professionals share a commitment to developing a “trusted advisor” relationship with our clients and referral partners, and have amassed an extraordinary track record of success in our restructuring, merger & acquisition advisory and capital raising practices.