Concord Financial Advisors helped ARI Packaging close a financing package consisting of a $10 million revolving line of credit, a $2.5 million equipment term loan and a $2.5 million line of credit.

ARI Packaging is a 17-year-old consumer packaging company headquartered in Alsip, IL. Early this year, the company’s bank determined that it was no longer a suitable fit for its portfolio and asked it to secure a new lender.

Initially ARI Packaging searched for a new financing partner on its own. It met with 10 lenders and received two term sheets to consider. Neither offer was satisfactory. One of the lenders that respectfully declined the deal referred ARI Packaging to Concord.

After completing due diligence, Concord screened and qualified several lenders. One consideration was that ARI Packaging wanted to work with a regional bank. Concord identified a Chicago-based bank that was equipped to handle the loans and all-cash management and treasury services for ARI Packaging. This bank liked the experience and expertise of the company’s ownership/management team and was impressed by its customer base, core business model and recent improvements in performance.

The new financing through the bank provides ARI Packaging with the additional liquidity it needs to purchase equipment and finance growth.

“Tom Jones and the Concord team helped ARI Packaging by exposing the company to a broader pool of lenders than we could have identified on our own. They used their analytical skills, industry savvy and well-developed relationships to guide ARI in selecting the best partner to meet our financial needs,” said Gary E. McCullough, CEO, ARI Packaging.