White Oak ABL, White Oak Commercial Finance and other affiliates of White Oak Global Advisors provided a $67 million asset-based lending credit facility to a manufacturer of healthcare and food safety products.
The transaction includes a $55 million revolving credit facility and a $12 million fixed asset term loan. The funds will be primarily used to refinance existing debt and provide for working capital.
“We are pleased to have been awarded the mandate to finance such a long-standing, market leader in the healthcare and food safety products space. This deal validates our ability to partner with middle market businesses by developing creative asset-based lending solutions that support their continued growth,” Tom Otte, Head of ABL at White Oak, said.