Daily News: December 16, 2014

BofA Business Capital Provides Pro-Pet Facility

Bank of America Business Capital has provided $21.4 million in senior secured credit facilities for Pro-Pet, a portfolio company of H.I.G. Capital. Proceeds will be used to refinance existing indebtedness and warrants, pay fees and expenses associated with the financing, provide ongoing working capital and provide funds for future growth.

“We’re thrilled to have entered into this relationship with bank of America Business Capital”, said James Wiegmann, Pro-Pet’s chief executive officer. “This is an important step in the evolution of our business.”

“Our new relationship with Pro-Pet demonstrates our ability to deliver seamless and efficient credit solutions to our clients,” said Jeff McLane, president of Bank of America Business Capital. “We look forward to helping Pro-Pet grow and prosper in the coming years.”

William Nolan, managing director of H.I.G. Capital noted, “We are very excited to partner with Bank of America to support Pro-Pet’s continued growth. The company has demonstrated its leadership position as a high quality producer of private label pet food for almost 15 years, and we look forward to assisting the management team in continuing to grow the company.”

Pro-Pet manufactures premium and super-premium, private label pet foods for distribution domestically and around the world.