Daily News: January 8, 2015

U.S. Bank Provides $75MM ABL to RelaDyne

RelaDyne has closed on a $75 million asset-based revolving credit facility with U.S. Bank to support the company’s continued growth.

“We are very pleased to establish this new relationship with RelaDyne. We were able to combine local relationship delivery with our asset-based lending capabilities,” said Sam Philbrick, president, U.S. Bank Asset Based Finance, which underwrote and arranged the facility. “RelaDyne is an industry leader poised for continued success. We worked closely with their leadership team to ensure the facility supports near- and long-term growth initiatives.”

“The U.S. Bank Asset Based Finance team assembled an impressive group of specialists who provided superior strategic guidance and assistance. We look forward to expanding our relationship with them in the future,” said Paul Helton, Chief Financial Officer at RelaDyne.

“We are very pleased and proud that we could enter into a business relationship with U.S. Bank. As we continue to grow locally and across the United States, U.S. Bank brings the experience and capabilities as a partner to help us achieve our growth and financial goals,” added Larry Stoddard, CEO, RelaDyne.

Cincinnati headquartered-RelaDyne is a lubricant, fuel and DEF distributor.