Ashton Potter Security Printing is a Buffalo, New York based company focused on the high security printing market. The Company has become one of the top suppliers to the United States Postal Service producing over 10 billion postage stamps annually and has best in class printing capabilities. Additional products include stamped envelopes and cards for the USPS as well as tax revenue stamps for domestic and international governments. The Company has also moved into the brand identity protection market to help protect clients from counterfeit products. Additional information, including how to order your own personalized stamped envelopes, can be found by visiting the Company’s website www.AshtonPotter.com.
F.N.B. CAPITAL CORPORATION PROVIDES $6.5 MM MEZZANINE FINANCING TO ASHTON POTTER
Ashton Potter to Pursue Growth Opportunities
Pittsburgh, PA – April 8, 2010 – F.N.B. Capital Corporation, a Pittsburgh-based merchant banking subsidiary of F.N.B. Corporation (NYSE – FNB), today announced the closing of a $6.5 million mezzanine financing with Ashton Potter Security Printing, a high security printing company based in Buffalo, NY. The mezzanine investment provided by F.N.B. Capital Corporation will be used to refinance the existing balance sheet and allow Ashton Potter to pursue growth opportunities which leverage its best-in-class secure printing capabilities.
“We are excited to become partners with Ashton Potter,” noted Stephen Gurgovits, Jr., President and CEO of F.N.B. Capital Corporation. “As one of the few suppliers of postage stamps to the United States Postal Service (USPS), the company has a solid base to expand into other secure printing areas. We are confident in the leadership team, lead by Barry Switzer, CEO, and believe Ashton Potter is well positioned to capitalize on numerous growth opportunities to continue its successful track record in the printing industry.”
For over 18 years, Ashton Potter has been a primary supplier of postage stamps to the USPS, printing over 10 billion stamps annually. The Company also prints stamped cards and envelopes for the USPS as well as tax revenue stamps for both domestic and foreign governments. Ashton Potter has recently expanded into brand identity protection and anticipates substantial growth opportunities in this market.
Barry Switzer, President and CEO of Ashton Potter stated, “We have successfully grown our relationship with the USPS and continue to expand into other related business lines. This transaction with F.N.B. Capital Corporation team will allow Ashton Potter to capitalize on new growth opportunities that add substantial value to our company and for our shareholders. Stephen and his team at F.N.B. Capital have become great business partners we look forward to working with.”