Chemicals company Reichold has secured $35 million in financing for its global operations.
The financing for Durham-based Reichold comes from GA Capital, a division of Great American Group, Inc. The senior secured global financing facility consists of a $22.5 million term loan and a $12.5 million revolving line of credit. Reichold pledged as collateral assets in six European countries.
Privately-held Reichold is among the global leaders in manufacturing unsaturated polyester resins and supplying coating resins for a wide variety of markets. The company, whose annual revenue tops $1 billion, has manufacturing operations throughout North America, Latin America, Europe, the Middle East and Asia.
“GA Capital took the time to understand our business and capital needs, and acted as a true partner throughout the entire process,” Reichold CFO Roger Willis said in a statement. “With their structuring capabilities and asset expertise, we were able to create significant liquidity from our international assets and now have more flexibility to implement our operational improvement plans.”