Wells Fargo Capital Finance (UK) worked with a newly formed European based investor group to support their acquisition of Puragen by providing a $7.5 million funding package on U.S. based assets.
Formerly known as Oxbow Activated Carbon, Puragen (also known as Puragen Activated Carbons), offers a diverse line of activated carbon filtration and purification solutions that provide cleaner water, fresher air and better living. Post-acquisition, the credit facility will also aid ongoing working capital requirements and growth.
“As sole lender, Wells Fargo Capital Finance are proud to have provided a bespoke funding solution to support the investor group’s acquisition of Puragen. We look forward to continuing our successful relationship with the group and working with them in building out their long term strategy of creating a world-class activated carbon platform,” said Tom Weedall, head of UK Originations, Wells Fargo Capital Finance.