Fifth Third Business Capital provided a $15 million capital expenditure facility and revolving line of credit to Puraglobe Syntainics.
Puraglobe Syntainics blends, packages and distributes sustainable, full synthetic motor oils for passenger cars and motorcycles. The company collects used motor oil globally and re-engineers it into API Group III base oil, which is sold directly to customers or blended to make sustainable, full synthetic motor oils. Syntainics is part of a global operation, Puraglobe Holdings, and is based in the Port of Tampa, Florida.
The Fifth Third team that worked on this deal included Todd Wooten, group head of asset-based lending in the Southeast; Cindy Jamroziak, senior underwriter for asset-based lending; and Joe Bachman, vice president of commercial lending.
