Daily News: September 6, 2019

Speritas Capital Closes $27MM Revolver for Plastics Manufacturer

Speritas Capital Partners closed a $27 million asset-based revolving line of credit for a major plastics manufacturer.

Speritas Capital was brought in by the client to assess financing options to pay off its current lender and to support substantial growth. The new revolving facility helps position this family-owned business for future expansion.

“Our ability to provide financing options beyond the company’s local and regional lenders made a big difference,” says Speritas Capital’s CEO, Jeffrey Bardos. “We worked closely with senior management to understand the company’s situation, its products and its operating issues. This kind of partnership allowed us to advise the company on the most competitive financing options. We worked with the client and the lender throughout the process to develop a comprehensive financing package that included accounts receivables, inventory, equipment and even a stretch piece.”