Wipfli Corporate Finance Advisors LLC advises Fiberstar on strategic transaction

July 10, 2013

Wisconsin-based manufacturer completed a $10.64 million growth recapitalization

Wipfli Corporate Finance Advisors LLC (WCF) announced today that its client, Fiberstar, Inc. (Fiberstar) has completed a $10.64 million growth focused debt transaction with Associated Bank, N.A. (Associated Bank) and Spell Capital Mezzanine Partners SBIC, LP (Spell Capital Mezzanine). Proceeds from the capital that was raised will be used to quadruple Fiberstar’s Florida production capacity and as working capital to support Fiberstar’s growth.

WCF advised Fiberstar on the structure and placement of the financing package and secured the funding sources necessary to complete the transaction.

“WCF was critical to the successful completion of this transaction, and they delivered beyond our expectations,” said Dale Lindquist, Fiberstar’s president, chief executive officer and board member. “With such an important transaction we relied heavily on Jeff Milkie and his team at WCF. Their experience and creativity were crucial to completing this transaction on extremely favorable terms and setting the stage for our future growth.”

Fiberstar, headquartered in River Falls, Wisconsin, is a global leader in the manufacture and marketing of innovative bio-ingredients from plant cell wall materials. The company serves food, pet food and cosmetics customers in 50 countries around the globe. Fiberstar’s award-winning Citri-Fi® ingredient is used by global food manufacturers to improve the quality, clean labeling and cost of the products into which it is incorporated. Export sales currently account for 85% of Fiberstar’s revenues and have been growing at an average compound annual growth rate of 47% for the past three years.

“The strength of Fiberstar’s business originates from its high-quality, unique product offering,” said Jeff Milkie, WCF’s managing director. “Combine this with a top-flight management team and board of directors, and the future looks very bright for Fiberstar. WCF is proud to have served as the company’s financial advisor, and we look forward to Fiberstar’s future growth.”

WCF Advisors’ team is led by Jeff Milkie, Karen Monfre, and Kevin Janke.