Silver Point Capital Ups stake in Standard Register Co (SR)

Managed by Edward A. Mule, Silver Point Capital has disclosed a 27% stake in Standard Register Co (NYSE:SR), which contains 2.20 million shares. According to the latest 13F, the fund’s position amounted to 2.05 million shares at the end of December 2013.

Standard Register also has a class of stock called “Class A Stock” convertible into shares of Common Stock at a rate of 1 per 1. Assuming conversion of all outstanding shares of Class A Stock into Common Stock, Silver Point Capital would own approximately 24.00% of the Common Stock outstanding upon conversion.

Founded in 1912, in Dayton, Ohio, Standard Register Co (NYSE:SR) is a leading U.S. provider of workflow, content and analytics solutions for the  healthcare, financial services, manufacturing and retail markets. On August 1, 2013, the Standard Register’s stock price rose 360.00% after the company announced it had acquired WorkFlowOne, a major competitor in the print and marketing communications space. The same year the company reported revenues of $719.80 million and net losses of $7.40 million or $1.16 per share, compared to losses of $4.88 per share in 2012. In the 2013 financial results press release the company’s CEO and President Joseph P. Morgan, Jr. said that during 2013 Standard Register made good progress toward long-term growth of the business and that it broadened its customer base, portfolio of solutions and opportunity for cross-selling with the largest acquisition the company has made in recent history. At the beginning of the year, Standard Register Co (NYSE:SR) launched the first on-demand labeling solution to allow businesses to order durable, UL/CUL approved digital labels online economically, regardless of volume.

Recently, William C. Martin‘s Raging Capital revealed that it has increased its activist position in Standard Register Co (NYSE:SR) to approximately 680,000 shares, now holding 8.30% of the company’s common stock. Another fund holding a significant position in Standard Register Co is Phil Frohlich‘s Prescott Group Capital Management, with almost 167,000 shares worth $1.15 million.

Silver Point Capital is also a large shareholder at American International Group Inc (NYSE:AIG), holding a position of 7.34 million shares worth almost $375.00 million – the largest share (30.75%) in the fund’s equity portfolio.

Disclosure: none.

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