GA Capital, a division of Great American Group, Inc., has closed a $35 million senior secured global financing facility consisting of a $22.5 million term loan and a $12.5 million revolving line of credit for Reichhold.
"Reichhold is a leading chemical manufacturer, and we are pleased to provide the capital they need to achieve their global financing objectives," said GA Capital president, Stuart Armstrong. "We are excited to complete this transaction as it demonstrates our ability to provide customized capital solutions to customers in both the industrial and international markets."
The loan facilities are supported by borrowing base collateral in six European countries, including: the United Kingdom, Norway, Germany, Netherlands, Denmark and Czech Republic. GA Advisory and Valuation Services provided the asset appraisal expertise necessary for GA Capital to structure the global facility.
"GA Capital took the time to understand our business and capital needs, and acted as a true partner throughout the entire process," said Roger Willis, Reichhold's Chief Financial Officer. "With their structuring capabilities and asset expertise, we were able to create significant liquidity from our international assets and now have more flexibility to implement our operational improvement plans."
Founded in 1927, Reichhold celebrates 87 years in business. With its world headquarters and technology center in Durham, North Carolina, USA, Reichhold is one of the world's largest manufacturers of unsaturated polyester resins and a leading supplier of coating resins for a wide variety of markets. Reichhold has manufacturing operations throughout North America, Latin America, Europe, the Middle East and Asia, and its businesses generate over $1 billion in annual sales.
GA Capital, a division of Great American Group, provides senior and junior secured corporate loan facilities that range from $10 million to $150 million -- assisting companies in refinancing existing debt, fueling new growth strategies and increasing their overall liquidity with customized financing solutions.
Great American Group is a leading provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services for an extensive array of companies.