TerraNova Capital Structured Finance, the credit advisory and special purpose finance division of TerraNova Capital Equities, closed a $25 million term loan for Riccelli Enterprises. This senior loan facility refinances the company’s existing senior term debt and also provides additional working capital to fund the company’s growth.
“In successfully executing this refinancing and expansion of Riccelli’s credit facility, TerraNova’s structured finance group has provided the company with the funding necessary to support Riccelli’s continued growth, capitalizing on the relationship TerraNova has built over the past several years with Richard Riccelli Sr. and his team,” Todd Coffin, senior managing director of TerraNova, said.
Riccelli Enterprises, family-owned for more than 50 years, is a trucking, hauling and aggregate supply company in the Syracuse, NY, region.
