Essex Capital Group arranged a $5.23 million recapitalization for Mezger Enterprises, the largest limestone quarrier and fabricator in the Southwestern U.S. Founded in 1978, Mezger offers \custom and quality products for large scale commercial, municipal and residential projects.
The recapitalization consisted of three new loan facilities – term debt to purchase new equipment, a real estate loan and an asset-based line of credit. The new loan facilities allowed the company to consolidate its debt structure at low rates while extending amortization and lowering monthly debt service. Additional working capital was also generated from the new financing.
Rob Swain, Essex president said, “This recapitalization allowed Mezger to expand their production line, improving efficiencies, reducing payroll and enhancing profitability going forward. At the same time, we were able to recapitalize existing term debt on more favorable terms as well as unlock additional working capital with the new line of credit.”
Essex Capital acted as the company’s exclusive advisor in this transaction.