Mazzotta Rentals, Inc. (MRI), a leading provider of rental equipment solutions serving CT, MA, NY, RI, VT, NH, and ME in the construction, industrial, and infrastructure sectors, today announced it has secured an asset-based loan credit facility with M&T Bank (NYSE: MTB) as lead arranger and administrative agent. The facility refinances existing debt and will support the company’s continued growth and expansion efforts. The transaction is comprised of a $120 million revolving line of credit along with a $5 million term loan facility. The transaction also provides MRI with a $35 million accordion feature for future growth.
“We are thrilled to have the financial backing from M&T Bank to continue scaling our operations, expand our footprint, and meet increasing demand from our customers,” said Thomas Caldaroni, Chief Administrative Officer of Mazzotta Rentals, Inc., “This credit facility is a strong endorsement of our performance and overall growth strategy, and it positions us to take advantage of new opportunities in key adjacent markets.”
The credit facility, led by M&T Bank, along with a consortium of top-tier financial institutions, reflects strong confidence in MRI’s leadership, operational performance, and future trajectory.
“This financing is an important step forward as we continue to execute on our long-term strategic plan,” said Joseph Mazzotta, Chief Executive Officer. “It provides us with the flexibility to make smart investments in our fleet and infrastructure while maintaining a healthy financial profile.”
MRI has a proven record of strong growth, driven by increasing customer demand working in the general construction and infrastructure development. With this new funding, the company plans to expand its service offerings and strengthen its position as an industry leader in equipment rentals.
