Liquidity to Drive Future Growth
WESTPORT, Conn., Dec. 10,
2024 /PRNewswire/ -- Great Rock Capital, an
asset-focused commercial finance company specializing in middle
market lending, today announced the closing of a $55 million senior secured term loan facility
with AirBoss of America Corp. ("AirBoss"), the second largest
rubber solutions and custom compounding company in North America. AirBoss (TSX: BOS) (OTCQX:
ABSSF) is a publicly traded company on the Toronto Stock
Exchange.
The Great Rock Capital term loan, together with the revolving
credit facility agented by The Toronto-Dominion Bank, will
refinance the company's existing debt. The new term loan facility
will leverage the value of their fixed assets to maximize
liquidity.
"AirBoss is a world-class platform driven by the company's
strong management team and their commitment to innovation via
research and development," said Stuart
Armstrong, CEO of Great Rock Capital. "This new credit
facility will provide them with significantly increased financial
flexibility and liquidity to support their strategic growth
initiatives, and we look forward to being part of their future
success."
About Great Rock Capital
Great Rock Capital is an
asset-focused commercial finance company that specializes in
serving the needs of middle market companies across the United States and Canada. The Company provides fast, flexible,
and creative financing solutions that maximize liquidity and
provide growth capital. The senior secured credit facilities
offered by the firm range in size from $10MM to $100MM and include
working capital, term-heavy, and term-only loan structures not
provided by traditional commercial lenders. The firm has
significant capital commitments from its partners, a private equity
business, and a large institutional investor. To learn more,
visit www.greatrockcapital.com.
About AirBoss
AirBoss of America is a diversified
developer, manufacturer and provider of survivability solutions,
advanced custom rubber compounds and finished rubber products that
are designed to outperform in the most challenging environments.
Founded in 1989, the company operates through two divisions.
AirBoss Rubber Solutions is a North American custom rubber
compounder with 500 million turn pounds of annual capacity. AirBoss
Manufactured Products is a supplier of anti-vibration and
rubber-molded solutions to the North American automotive market and
other sectors, and also a global supplier of personal and
respiratory protective equipment and technology for the defense,
healthcare, medical and first responder communities, through its
AirBoss Defense operations. The Company's shares trade on the TSX
under the symbol BOS and on the OTCQX under the symbol ABSSF.
Visit www.airboss.com for more information.
Great Rock Capital Contact:
Jenn Cronin
Managing Director, Marketing and Business Development
(203) 557- 6277
cronin@greatrockcapital.com
View original
content:https://www.prnewswire.com/news-releases/great-rock-capital-closes-55-million-term-loan-for-airboss-of-america-corp-302326614.html
SOURCE Great Rock Capital
