Backcast Partners Invests in M&R Group to Boost Apparel Technology Advancements

Backcast Partners Invests in M&R Group Holdings

New York, Jan. 9, 2025 — Backcast Partners, a prominent entity in providing capital solutions to middle-market companies, has confirmed its latest investment aimed at facilitating MR Group Holdings, LLC in the refinancing of its senior debt. This investment is poised to significantly support MR's ongoing operations and expansion.

MR Group Holdings, celebrated for its innovative approach, is a leader in manufacturing apparel screen printing equipment globally, and it is based in Roselle, Illinois. Established in 1985, MR has continuously maintained its competitive edge by adapting to the industry’s evolving demands. With a wide-ranging portfolio of proprietary equipment designed for decorative garment application, MR stands out for its capabilities, which encompass screen, digital, hybrid, and film printing technologies.

Danny Sweem, the CEO of MR, expressed enthusiasm about this partnership with Backcast, noting, "We are thrilled to collaborate with Backcast as we chart our path into 2025 and onwards. The new credit facility will not only enable us to enhance the quality of our customer service but will also help us sustain our leadership in garment printing technology."

The investment aligns with the strategic vision of Corinthian Capital Group, MR's primary backer. Peter Van Raalte, Co-Founder of Corinthian, emphasized the positive collaboration, stating, "We are excited to partner with Backcast in fostering MR's future growth. The fruitful relationship we have built with Ed Cerny and his team at Backcast has led to several successful financing ventures."

Ed Cerny, Managing Partner at Backcast, highlighted the significance of this investment for MR's trajectory. He shared, "Having successfully backed Corinthian in several investments since 2012, we are particularly optimistic about this engagement with MR. Their robust market presence within a resilient and growing niche, combined with their commitment to technological innovation, makes MR an exceptional partner. Moreover, their management team's expertise positions them for significant growth potential."

Backcast’s ongoing commitment to provide substantial capital allows for a flexible approach to investment, aligning with its aim to support both PE-backed ventures and privately managed companies. Possessing approximately $1.3 billion in assets under management, Backcast Partners intends to invest between $20 million and $150 million per transaction, positioning itself as a vital player in the middle-market segment.

MR's historical achievements, prowess in producing an extensive array of printing solutions, and dedication to customer service have fortified its reputation within the industry. As it embarks on this new chapter of growth, the support from Backcast Partners is anticipated to bolster its market leadership further.

For firms seeking investment capital, Backcast Partners remains a resourceful option. Interested parties can reach out to Mark Gudis, Managing Partner, for more information on potential collaboration opportunities.

In summary, Backcast Partners' strategic investment underscores a commitment to enhancing MR Group’s operational capabilities and sustaining its leadership position in garment printing technology. As the industry evolves, such partnerships prove crucial for innovation and growth within the middle market.