30 May Amherst Advises on Refinance of The Cleveland Plant & Flower Company
Amherst Partners, LLC (“Amherst”) is pleased to announce the successful refinance and sale of select branch locations of The Cleveland Plant & Flower Company (“CPF” or the “Company”). Amherst’s Restructuring Advisory Group acted as exclusive financial advisor to CPF in connection with the refinancing and sale process.
About The Cleveland Plant & Flower Company
The Company is headquartered in Cleveland, Ohio. With six distribution centers located in Ohio, Pennsylvania, and North Carolina, along with a fleet of more than 100 trucks, CPF is one of the largest wholesale distributors of floral products in the United States.
A family-owned business with more than 100 years of operating history, CPF provides clients in the retail florist, supermarket, event planning, catering, crafting, and fund raising market segments with highquality imported fresh flowers, foliage, plants, floral supplies, and related novelty items.
About The Engagement
Amherst’s Restructuring Advisory Group was initially engaged to assist the Company with a review of strategic alternatives for the business. As the engagement developed, Amherst and the management team created a turnaround plan calling initially for the identification and sale of select underperforming branch locations. Following the successful completion of that process, Amherst then assisted CPF in securing new financing to support ongoing operations and fund growth initiatives.
The Amherst team’s approach emphasized active engagement with CPF’s existing management who, over the course of the process, enthusiastically embraced the opportunities created in the restructuring for continued growth at the Company’s core locations.
Ulmer & Berne, LLP served as legal advisor to The Cleveland Plant & Flower Company.
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.