Citizens served as Sole Lead Arranger for Brockton, MA-based W.B. Mason’s new $325 million senior secured credit facilities.

Founded in 1898, W.B. Mason is one of the largest privately held business-to-business office products dealers in the United States and has been a Citizens client for more than 35 years.

The new senior secured credit facilities include a $275 asset based revolving credit facility and a $50 million First In, Last Out (“FILO”) Facility, which was well received in the market, reflecting the company’s strong operational and financial performance during the COVID-19 pandemic.  The funds will be used to repay existing debt and support future growth.

“Citizens has been a longtime strategic and financial partner,” said W.B. Mason Chief Executive Officer and Owner Leo Meehan. “We value the solutions that our trusted advisors at Citizens bring to the table and their dedication to our success.”

“We were able to provide an attractive new capital structure that allowed the W.B. Mason team to meet their strategic objectives,” said Jerry Sargent, Northeast Regional Executive, Citizens. “Providing asset-based lending facilities is just one of the ways that Citizens delivers value for clients at every stage of their business life cycle.”