Press Release
Anacomp Secures $7.5 Million Financing from Bridge Bank N.A.
New Funding to Support eDiscovery Initiatives
SAN DIEGO, CA, JUNE 8, 2009 - Anacomp® Inc., a leading provider of business process solutions and services, today announced it has obtained $7.5 million in new financing from Bridge Bank, National Association, a commercial business bank headquartered in the Silicon Valley region of Northern California and the principal operating subsidiary of Bridge Capital Holdings (NASDAQ: BBNK). The credit facility will fund Anacomp's efforts to accelerate its various strategic initiatives, which include expanding its presence in the eDiscovery market as a leading provider of litigation support consulting, services and solutions.
"This credit agreement provides increased financial flexibility and liquidity," said Jeff Cartwright, Anacomp's Chief Financial Officer. "Our ability to access incremental capital in this difficult credit and economic climate underscores the success of our company's ongoing transformation, most notably in the eDiscovery market, where our penetration into the AMLaw 250 and corporate client base, as well as the reseller community servicing these customers, demonstrates our momentum in becoming a market leader in this fast growth industry."
"We appreciate the opportunity to support Anacomp's business plan," said Anthony Crisi, Vice President, Capital Finance Group at Bridge Bank N.A. "We are very impressed with the company's growth initiatives and the market opportunities it faces in expanding its footprint with law firms and corporate general counsel departments by offering proven eDiscovery services and solutions."
The new line of credit will be used for general working capital purposes and letters of credit, and replaces an existing credit facility from another financial institution.
About Bridge Capital Holdings and Bridge Bank, National Association
Bridge Capital
Holdings is the holding company for Bridge
Bank, National Association and holds a
global select listing on the NASDAQ stock
market under the trading symbol BBNK. Bridge
Bank was launched in May 2001 as the
professional business bank of choice for
small, middle-market, and emerging
technology companies. Bridge Bank provides
its clients with a comprehensive package of
business banking solutions delivered through
experienced, professional bankers. Visit
Bridge Bank on the web at
www.bridgebank.com.
About Anacomp
With 40 years of experience and a passionate commitment
to client services, Anacomp partners with its customers to
help them realize the full potential of their business
processes at the lowest total cost of ownership. Possessing
one of the world's largest document repositories as well as
a large, independent field services organization, Anacomp's
offerings serve hundreds of original equipment manufacturing
(OEM) partners and thousands of end users in insurance,
financial services, government, legal, and other markets.
Anacomp is headquartered in San Diego, with international
headquarters in Wokingham, UK. For more information, visit
www.anacomp.com or call
(800) 364-9870.
For More Information:
Rob Jensen
Senior Director of Marketing
Anacomp, Inc.
(858) 716-3549
rob.jensen@anacomp.com
