Phoenix Capital Resources, a middle market situations investment bank, acted as the exclusive financial advisor and investment banker to Polymeric Resources Corporation in arranging, structuring and negotiating a refinancing of $47 million through Ares Commercial Finance.

The new refinancing consists of two senior secured revolving credit facilities for both its U.S. and Canadian operations totaling $30 million, two term loans totaling $12.5 million secured by real estate and machinery and equipment in Canada, a $500,000 term loan secured by the machinery and equipment in the U.S., and a consolidated $4 million capital expenditure facility.

The proceeds from the new refinancing will be utilized to fund the continued growth of Polymeric, as well as ongoing working capital needs and capital expenditure projects.

Wayne, NJ-based Polymeric is a North American manufacturer and compounder of nylon 6, nylon 6/9, specialty nylons and other polymer products.

Ares Commercial Finance is a limited partnership formed by Ares Management, a global alternative investment manager and parent to several registered investment advisers, headquartered in Los Angeles with offices across the U.S., Europe and Asia. Ares Commercial Finance, headquartered in New York with offices in Atlanta and Los Angeles, provides collateral and cash flow loans to small- and middle-market companies as well as asset based facilities to specialty finance companies.

Phoenix Capital Resources was engaged by Polymeric Resources to refinance the company. Vince Colistra, who led the refinancing effort with the support of Kevin Barr, vice president at Phoenix Capital Resources, commented, “Phoenix has had a relationship with Polymeric for the last eight years and has done a number of deals with folks at Ares, who completed the transaction from proposal to closing in less than four months.”