Capstone Partners is pleased to announce the closing of a $45 million senior secured credit facility for a Private Industrial Minerals company. The proceeds were utilized to refinance the company’s existing indebtedness and for general working capital purposes. Wingspire Capital LLC served as the agent.
Founded nearly 75 years ago, the company has a storied history as a leader within the industry, underpinned by family values and a dedicated team of associates. The company operates multiple facilities throughout the U.S. and Canada from which it services customers in several end-markets.
This was a very complex and multi-faceted financing given the state of certain end-markets; however, the entire Capstone team came through for us and delivered exactly what they promised. We’re incredibly grateful for their counsel and will most certainly leverage it again in the future.
“This transaction, like most, was not without its challenges; fortunately, the management team was first-class and continually exceeded expectations. It was a pleasure to work with them and we wish the company continued success,” stated Brian Schofield, Managing Director at Capstone. “Similarly, Wingspire Capital was very constructive throughout the process and will be a fantastic financing partner for the company. We’ve recently completed several transactions with them and I suspect, there will be many more to come.”
