Full Speed Ahead For Bankrupt PE-Owned Ohio Printers

Law360, New York (May 23, 2013, 9:14 PM EDT) -- A bankruptcy judge in Delaware on Thursday approved the first-day requests of Ohio-based sister commercial printing companies D.B. Hess and The Press of Ohio, both owned by private equity firm Wellspring Capital Management LLC, including up to $20 million in financing to help the firms sell off their assets.

The firms and their parent TPO Hess Holdings Inc. filed for Chapter 11 protection Wednesday with a prepackaged plan that included the proposed debtor-in-possession financing from General Electric Capital Corp., one of their major prepetition lenders.

The terms...
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