has been recapitalized by


and



Ply-Marts is a leading supplier of
building materials to single family
homebuilders in the Southeast.

The undersigned acted as financial advisor to Ply-Marts in this Transaction

Ply-Marts

Description

Ply-Marts is a leading supplier of building materials to single family homebuilders in the Southeastern United States.

Situation

Croft & Bender was hired by Ply-Marts to evaluate liquidity alternatives for its shareholders. After a confidential pre-marketing effort, Croft & Bender was able to generate an attractive offer to acquire Ply-Marts. After much debate, Ply-Marts’ majority shareholders ultimately decided that they did not want to sell the Company or bring in outside equity investors. Ply-Marts had minority shareholders that wanted liquidity, and the majority shareholders wanted to accommodate them. Croft & Bender recommended that Ply-Marts initiate a debt recapitalization to satisfy the desires of Ply-Marts’ various shareholders. Croft & Bender drafted a Private Placement Memorandum and related due diligence materials to facilitate Ply-Marts’ debt recapitalization. Croft & Bender contacted numerous sources of debt capital and generated multiple proposals from an extensive process.

Result

Croft & Bender negotiated a syndicated debt transaction with Bank of America at materially better than market terms. Wachovia also participated in the transaction, which closed in January of 2006.