Sterling National Bank‘s commercial services group provided senior secured credit facilities totaling $8.5 million to Ice Air.
The facilities will be used to refinance existing debt and to provide working capital for the company’s future projected growth.
Located in Mount Vernon, NY, Ice Air is a developer and manufacturer of HVAC equipment used in new construction and retrofit/replacement applications. Established in 2003, the company works directly with general contractors, property developers and wholesale distributors of HVAC equipment.
Sterling National Bank is a provider of financing and administrative services for staffing and IT consulting firms.
