MidCap Business Credit closed on a $4.5 million asset-based revolving line of credit for CR Brands, a portfolio company of Resilience Capital Partners headquartered in West Chester Township, OH. CR Brands is a consumer packaged goods company with a portfolio of household cleaning and laundry products. The opportunity was sourced out of MidCap’s Dallas office.
“We were able to provide the company with a deal structure that allows them the flexibility they need to execute on their strategic plan and grow the business,” Bill Nay, senior vice president of MidCap Business Credit, said. “We look forward to working with the team at CR Brands.”
“Midcap did a great job understanding the CR Brands story and putting together a solution that worked,” Ki Mixon, partner with Resilience Capital, said. “The fact that they were able to underwrite, close and fund a new line of credit in less than six weeks from the initial call during these crazy times is very impressive.”
MidCap Business Credit provides asset-based credit facilities to lower and middle market businesses with borrowing requirements from $2 million to $15 million.
