Siena Lending Group announces the completion of a three-year $27 million credit facility for Sypris Solutions to refinance its existing senior debt and to support its growth requirements.

The facility included a $15 million asset-based revolver and a $12 million arranged term loan provided by Great Rock Capital.

Huron Business Advisory acted as the debt and financial advisor to Sypris. The transaction from start to finish was closed within 30 calendar days.

David Grende, president and CEO of Siena Lending Group, said, “We are pleased to provide a flexible asset based facility to Sypris that will help their companies  grow and execute their growth initiatives as well as execute their strategic plan.  We are especially pleased that we were able to complete this complicated transaction within the 30 day timeframe that we proposed on from the start.”

Geoffrey Frankel, managing director of Huron Business Advisory said, “We were very pleased to have chosen Siena as the leading debt provider and felt that they understood the company’s liquidity needs. Siena was able to put together a structure that satisfies the liquidity needs of the business and they delivered on what was promised in less than 30 days. Siena’s principals have a proven track record of success and we look forward to a long-term relationship.”

Louisville, KY-based Sypris Solutions is a diversified provider of outsourced services and specialty products. The company performs a wide range of manufacturing, engineering, design and other technical services, typically under multi-year, sole-source contracts with corporations and government agencies in the markets for truck components and assemblies and aerospace and defense electronics.