Phoenix Management Services acted as the financial advisor to a Midwest-based manufacturing metal coatings provider in arranging, structuring and negotiating a $2.75 million loan package with Rosenthal & Rosenthal. The metal coatings provider will use proceeds from the financing to refinance its existing credit facilities and fund additional working capital to, among other things, fund capital expenditures associated with the expansion of its metal treatment facility.
To support the company’s rebounding revenues and growth, Phoenix Management crafted a refinance solution that leveraged the company’s accounts receivable and real estate to provide more working capital than the company’s existing lender was able to offer. Rick Szekelyi, managing director at Phoenix Management Services, and Jason Egger, director at Phoenix Management Services, spearheaded the refinancing.
“We didn’t just present refinancing options; we went after the best solution that provided flexibility and working capital to help this company grow,” Egger said. “The Rosenthal team, led by Al Foster, vice president and business development officer in Rosenthal’s Southeast office, worked hard to provide the right solution and flexibility with the most competitive pricing.”
