Siena Lending Group closed a $35 million credit facility with Charah Solutions, a provider of mission-critical environmental services and by-product recycling to the power generation industry. The new two-year credit facility was utilized to refinance existing debt as well as to provide additional working capital to support the company’s growth.
“Siena was creative in being able to structure a facility that met our needs and at the same time comply with existing debtholder requirements. Matthew Sutton, CEO and president of Charah, said. “Siena was extremely professional and a pleasure to work with.”
“Charah is a very well-run company, and we were fortunate to be given the opportunity to finance a market leader in the environmental services space,” Stephen Fuscaldo, managing director of Siena, said. “Our group at Siena feels very proud that we can support a company that has such a positive effect on our environment.”
“This was a great example of Siena putting in the effort to understand the operations and assets of a business and developing solutions to maximize liquidity,” Scott Elliotto, president of Siena, said. “We look forward to working with this experienced management team and strong ownership group.”
