Salem Five Bank, a full-service financial services organization, provided a senior secured credit facility to Guardian Propane Partners, the propane distribution platform of Inyarek Partners, a Boston-based investment firm specializing in supporting companies in the energy and industrial sectors through their next stage of growth.
The credit facility supported Guardian’s acquisition of F.A. Days & Sons of Provincetown, a company serving the propane and heating oil needs for Cape Cod, with working capital needs and provides flexibility to grow the acquired business.
The relationship with the bank came through an industry referral, given Salem Five’s commercial lending expertise in the region as well as the recommendation of the business credit team’s experience in the energy sector, led by Keith Broyles.
“Here at Salem Five Business Credit, we are committed to assisting investment partners achieve their goals,” Broyles said. “We’re excited to support a local Massachusetts company that plays an important role in providing energy resources to residents throughout Cape Cod.”
Brett Estwanik of Inyarek Partners said, “We reconnected with Salem Five through trusted industry referrals and knew of Keith’s experience in the sector, and they quickly proved to be the right partner. We were looking for a lender with strong commercial expertise and the flexibility to support our growth, and this facility gives us the working capital needed to scale efficiently. The team has been responsive, straightforward and accommodating from the start.”
