Sunflower Bank provided $15 million in commitments to support the redemption of shares and future growth of QuickBox Fulfillment and revolving and term debt commitments in connection with an investment in Team Laboratory Chemical.
For QuickBox Fulfillment, Sunflower Bank provided senior debt financing in connection with an investment made by Pike Street Capital. Additionally, Sunflower Bank provided QuickBox with a revolving line of credit in support of the company’s operations and future growth. The transaction closed in November 2019.
“Sunflower Bank worked closely with Pike Street Capital and the leadership at QuickBox to provide a seamless process for closing and funding the transaction,” David Dandel, managing partner at Pike Street Capital, said.
QuickBox is a third-party logistics organization headquartered in Denver, Colorado.
“We’re pleased to have worked with the management team at QuickBox to meet the company’s debt financing needs,” David Harper, managing director of leveraged finance at Sunflower Bank, said. “This transaction was completed in partnership with Pike Street Capital and demonstrates Sunflower Bank’s expertise across industries and our ability to structure leveraged finance solutions for borrowers.”
As part of its transaction related to Team Laboratory Chemical, Sunflower Bank partnered with Team Lab’s management team, Lightspring Capital Partners and Plexus Capital, to support the future growth of Team Lab.
“We’re pleased to be working with Team Lab, Lightspring and Plexus to meet the company’s debt financing needs,” Harper said. “We have enjoyed long-term relationships with both Lightspring and Plexus and are excited about the growth opportunities available to Team Lab.”
Team Lab provides products and supplies for paved road surface construction and maintenance, wastewater and pool treatment, turf care, building surfaces and floors, and boiler systems.
“We are proud of Team Lab’s track record of providing innovative products and exemplary service to its customers and look forward to continuing our growth under this new partnership,” Terry Maier, president of Team Lab, said.
Sunflower Bank is headquartered in Denver and holds $4 billion in assets as of December 31, 2019. Sunflower Bank’s structured finance group launched in June 2018 to provide corporate finance services to clients and prospects with borrowing needs of $5 million to $20 million or more.
