Daily News: January 28, 2014

Wells, Others Lead North Mill $90MM ABL

North Mill Capital announced it secured a new, three-year, $90 million credit facility led by Wells Fargo Capital Finance, BMO Harris Bank, Flushing Bank, Capital One and Webster Bank. The new facility replaces North Mill’s existing senior-secured credit facility and will be used for working capital and to support its growth.

“We are pleased to work with Wells Fargo Capital Finance. As we have grown and expanded our products and geographic reach we now require the strength of Wells Fargo and the sophistication in lender finance that it brings with it” said Jeffrey Goldrich, president and CEO of North Mill. “We worked closely with Andrea Petro, Stewart Hayes and the Wells Fargo team to structure a credit facility, providing us with increased liquidity, the ability to pursue strategic opportunities, continue with organic growth and stay competitive.”

“North Mill is a strong brand and highly reputable company within the ABL market space and I am pleased to have Wells Fargo lead this credit facility,” said Andrea Petro, senior managing director and division manager of the Lender Finance division at Wells Fargo Capital Finance. “We look forward to continuing our long term relationship with North Mill.”