Cole Taylor Business Capital announced the funding of a $10 million facility for SantoLubes Manufacturing and Envincio.
Proceeds of the facility were used to refinance existing debt and fund ongoing working capital.
SantoLubes and Envincio are portfolio companies of C3 Capital. C3 Capital is a fund management company based in Kansas City, MS, with satellite offices in Phoenix and Dallas. C3 manages three funds that provide capital for businesses to finance later-stage growth, strategic acquisitions, ownership transitions and recapitalizations.
Konza Valley Capital, a licensed Small Business Investment Company that provides private equity capital to lower middle market companies, also provided mezzanine debt in the transactions.
Spartanburg, SC-based SantoLubes is a manufacturer of specialty chemicals, additives and polymers. Sandersville, GA-based Envincio manufactures and markets plant-based insecticides. Products from both companies are used in a variety of industries including air craft, automotive, agriculture and electronics.