Completes Refinancing to Fund Growth

CHICAGO: Cloud Packaging Solutions LLC ("Cloud") announced that it has completed a transaction to refinance its senior and subordinated debt. The transaction included an amendment to Cloud's existing senior credit facility with LaSalle Bank, N.A., providing a committed acquisition facility. In addition, Cloud refinanced its existing subordinated debt with a $10 million subordinated loan from Key Principal Partners.

"We are very excited about our new credit facilities which provide us the ability to quickly execute on growth opportunities in this dynamic packaging market," said Kevin Fritzmeyer, President of Cloud.

The transaction provides Cloud with financial flexibility to execute its growth strategy which includes organic growth as well as strategic acquisitions of complementary businesses in the packaging sector. Founded in 1929, Cloud was purchased by a group of investors led by Cameron Holdings Corporation in 2000. Cloud then acquired Span Contract Packaging, Greenville, S.C., in 2003. Cloud provides a full range of packaging solutions in the food and beverage, consumer, industrial, OTC pharmaceutical and personal care industries. It also designs and manufactures high-speed packaging equipment, and has developed cutting edge solutions for packaging machinery based on continuous-motion horizontal form-fill-seal (HFFS) technology. For more information, visit Cloud at www.cloudps.com.