SSG Capital Advisors acted as the investment banker to Wood-Mode in the placement of a financing package which enabled the company to refinance existing indebtedness and generate additional liquidity for growth.

Wood-Mode is a manufacturer of high-end custom cabinetry crafted for use in kitchens, bathrooms, closets/wardrobes, entertainment areas, offices and hobby areas or any other household location requiring storage.

Wood-Mode experienced a significant improvement in performance in 2015 and successfully implemented a number of operational initiatives in2016 that positioned the company for future growth. However, Wood-Mode’s capital structure did not provide adequate liquidity to fund the company’s seasonal working capital requirements and anticipated Q2/17 production ramp-up.

SSG was engaged to refinance the company’s existing credit facility and secure additional availability to fund the company’s projected cash needs.

SSG solicited interest from a targeted list of traditional and alternative lenders and received multiple term sheets. A split-lien deal was determined to be the best solution, with one lender providing a new revolving line of credit and another lender providing a new term loan.