Phoenix Capital Resources, the investment bank affiliate of Phoenix Management Services, LLC, acted as the exclusive financial advisor and investment banker to Lane Enterprises, Inc. PNC Bank, N.A. provided a new $54.6 million credit facility to Lane Enterprises, including a $30 million revolving line of credit and a $24.6 million term loan. The proceeds from the term loan were used to repay subordinated debt primarily relating to the management buyout from Bethlehem Steel in 1986 and rollover of loans in 2006 when Lane Enterprises became a 100% ESOP owned company. The revolving line of credit will be used to fund ongoing working capital and support continued growth and expansion.

For more than 80 years, Lane Enterprises has designed and manufactured highly-engineered drainage products that provide the highest service life, strength, versatility and economy. With 11 manufacturing facilities across the eastern and southern United States, Lane is a full solutions provider, specializing in corrugated HDPE and metal drainage pipe, as well as structural plate and custom-designed storm water products.

Phoenix Management Services, LLC and Phoenix Capital Resources have worked with Lane Enterprises, Inc. in various capacities since 2008 and were most recently engaged to validate and augment the multi-year monthly financial modeling to facilitate the underwriting, structuring, and closing of this refinancing.

Michael McCauley, President of Phoenix Capital Resources, said "We are pleased that the PNC Business Credit team was able to provide a flexible financing solution to meet Lane's objectives and provide the financial support for continued long-term success."

For 30 years, Phoenix has provided smarter, operationally focused solutions for middle-market companies in transition. Phoenix Management Services provides turnaround, crisis and interim management, specialized advisory and operational due diligence services for both distressed and growth oriented companies.