Brentwood Completes Dividend Recaps of K-Mac, Paper Source

Brentwood Associates said Monday it has completed a dividend recap of two of its portfolio companies: K-Mac Holdings and Paper Source. The K-Mac dividend was financed through excess capacity under the company’s existing $252 million credit facility, Brentwood said. Paper Source, meanwhile, took out a new $50 million loan to finance its dividend, Brentwood said. Brentwood's stake in both companies remains unchanged. Golub Capital provided financing for the Paper Source recap. Bank of America Merrill Lynch, Wells Fargo Bank, and SunTrust Robinson Humphrey were joint lead arrangers on the senior debt financing for K-Mac.

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