Presidential Financial provided $10 million in working capital and term facilities to FSTI.
Headquartered in Austin, TX, FSTI manufactures and distributes a range of chemical products that are inherently safe for manufacturing processes in addition to providing logistics services through its 6 terminal locations. It serves companies in the oil and gas, semiconductor, and technology industries as well as municipal and utility companies throughout the United States.
The funds were used to refinance the payoff to an existing lender, provide additional working capital, and help facilitate further business expansion. The transaction was completed on July 13, 2018.
Owned by MidFirst Bank and headquartered in Atlanta, Presidential Financial provides customized financing solutions to growing businesses nationwide and offers lines of credit of up to $30 million.
