Phoenix Capital Resources acted as the financial advisor and investment banker to Spray Products in arranging, structuring, and negotiating a $21.5 million loan package with Fifth Third Business Capital.
Proceeds from the financing will be utilized to refinance the company’s existing credit facilities, fund additional working capital to finance its continued growth and capital expenditures associated with the expansion of its Medina, OH manufacturing and distribution facility.
Spray Products is a custom contract manufacturer of aerosol and liquid consumer products.
“The strong interest in financing Spray Products is a testament to its commitment to product innovation and its strong customer relationships. The company had many refinancing options to choose from, but at the end of the day, the package provided by Fifth Third was the most flexible and competitive,” noted Michael Jacoby of Phoenix Capital.
