Chicago, IL – September 30, 2020 – Encina Business Credit, LLC announced today that it has provided a $72.5 million senior secured credit facility to a leading manufacturer and distributor of heating, ventilating and cooling products used in both residential and commercial applications.
The credit facility, comprised of both a revolver and term loan, provided acquisition capital to a leading global alternative investment firm.
Encina’s expedient and flexible approach, hallmarks of its execution in all transactions, were important differentiators that allowed the acquirer to meet the seller’s expectations for a quick closing.
Launched in March 2016, EBC (www.encinabc.com) is an independent asset-based lending platform targeting middle-market borrowers in the U.S. and Canada. The firm provides revolving lines of credit and term loans ranging in size from $10–$100 million and secured by accounts receivable, inventory, machinery & equipment and real estate. The platform lends to both privately-owned and publicly-traded companies across a wide range of industries, including manufacturing, retail, automotive, oil & gas, services, distribution and consumer products. Borrowers use loan proceeds to fund working capital, acquisitions, refinancings, growth, restructurings/turnarounds, debtor-in-possession (DIP)/exit financings and other special situations. Positive cash flow is not a requirement.