Accord Financial’s US Asset-Based Lending team closed a $14,000,000 credit facility for the acquisition of a regional waste management company. The facility consists of a $5,000,000 revolving accounts receivable facility and a $9,000,000 machinery and equipment term loan. The private investment firm acquired the business out of bankruptcy and has several other operating platforms in the waste management space. When not focused on waste management, it invests debt and equity capital in lower middle-market companies across many industry segments, through both traditional sales processes as well as special situations.

Accord’s US ABL President Jim Hogan commented on the closing of this deal by stating, “Accord is proud and excited to have been able to provide this acquisition financing to an independent sponsor with deep industry knowledge and an experienced management team. This transaction exemplifies Accord’s long-standing commitment to the independent sponsor community, where for over 20 years have been providing flexible, simple solutions—whether it be a term heavy ABL facility as we provided here, or a straightforward factoring solution.”