American Achievement Corporation’s $350 Million Credit Facility

Schulte Roth & Zabel represented Cerberus Business Finance LLC, in its capacity as Administrative and Collateral Agent for a syndicate of lenders under a $350 million credit facility, in connection with the restructuring of American Achievement Corporation.

The restructuring and associated capital investment has given American Achievement Corporation a strengthened financial foundation to invest in its products, customers and the communities it serves. The deal also resulted in the appointment of a new board of directors and new chief executive officer.

American Achievement Corporation is the world’s largest collegiate and high school commencement services company and an industry leader in digital product innovation.

The Schulte team advising Cerberus was led by business reorganization partner Adam Harris (Picture) and M&A and securities partner Andrew Fadale. The team also included business reorganization special counsel Peter Amend, associate Kelly (Bucky) Knight and law clerk Matthew Pinos; tax partner David Passey and associate Joseph Reich; employment & employee benefits partner Ian Levin, special counsel Adam Gartner and Scott Gold and associate Erik Hays; environmental special counsel Theodore Keyes; finance & derivatives partner Christopher Bell, special counsel Rami Kidouchim and associate Christina Chaplygina; intellectual property, sourcing & technology partner Edward Sadtler and special counsel Scott Kareff; litigation partner Gayle Klein; M&A and securities associates Bill Tevlin, Nicolette Fata and Jaclyn Malmed and law clerks Samuel Schaffer and Christina Welch; and real estate special counsel Amiel Mandel and associate Avery Cummings.

Involved fees earner: Peter Amend – Schulte Roth & Zabel; Christopher Bell – Schulte Roth & Zabel; Christina Chaplygina – Schulte Roth & Zabel; Avery Cumming – Schulte Roth & Zabel; Andrew Fadale – Schulte Roth & Zabel; Nicolette Fata – Schulte Roth & Zabel; Adam Gartner – Schulte Roth & Zabel; Scott Gold – Schulte Roth & Zabel; Adam Harris – Schulte Roth & Zabel; Erik Hays – Schulte Roth & Zabel; Scott Kareff – Schulte Roth & Zabel; Theodore Keyes – Schulte Roth & Zabel; Rami Kidouchim – Schulte Roth & Zabel; Gayle Klein – Schulte Roth & Zabel; Kelly Knight – Schulte Roth & Zabel; Ian Levin – Schulte Roth & Zabel; Jaclyn Malmed – Schulte Roth & Zabel; Amiel Mandel – Schulte Roth & Zabel; David Passey – Schulte Roth & Zabel; Joseph Reich – Schulte Roth & Zabel; Edward Sadtler – Schulte Roth & Zabel; William Tevlin – Schulte Roth & Zabel;

Law Firms: Schulte Roth & Zabel;

Clients: Cerberus Business Finance LLC;

Martina Bellini

Author: Martina Bellini