Pathlight Capital LP (Pathlight) announced it is serving as the Administrative Agent on the recently funded $70,000,000 Senior Secured Term Loan facility for Armstrong Flooring, Inc., a global manufacturer of innovative flooring solutions serving customers in commercial and residential markets.
The Term Loan, which was completed and funded on June 23, 2020, will be used for business transformation and growth initiatives, working capital needs and general corporate purposes.
“We are excited to work with Pathlight in the transformation of Armstrong Flooring, Inc.,” said Michel S. Vermette, President and CEO of Armstrong. “Their support will facilitate the execution of our customer centric strategic plan and overall business improvement. We are very thankful that Pathlight tailored financing that augmented our liquidity and provides us flexibility in the current business environment so we can realize our business priorities.”
“Armstrong has been a leader in the flooring industry for decades, and we are excited to support them is strengthening their competitive market position,” said David Helmes,
Managing Director of Pathlight Capital. “It was a pleasure working with this management team to customize a credit facility and provide additional liquidity for the
Company to execute its business objectives.”