$25 million
Trucking company
Deals & Transactions
- $25 millionRefinance/Working capital
Trucking company
Headquartered in Milwaukee, WI, Tankstar USA, Inc. is a truckload carrier specializing in tank truck transportation of dry bulk and liquid bulk commodities. The customer base is diverse and includes major shippers in the chemical, cement, food, and oil & gas industries. The company’s operations include 29 active terminal locations, primarily located in the Eastern and Southeastern regions of the United States.
Tankstar USA was looking for financing alternatives to support its improving financial and operational profile following an industry-wide downturn in recent years. Bank of America Business Capital provided a $25 million revolving credit facility to provide for ongoing working capital and general corporate purposes. Bank of America Merrill Lynch also is providing letters of credit and treasury management products and services.
- $45 millionBuilding industry product installer and supplier$45 millionRefinance/Other
Building industry product installer and supplier
Headquartered in Columbus, Ohio, Installed Building Products, LLC is one of the largest insulation contractors in the country with operations in 69 locations. The company sells and installs a wide range of products for new home construction and home improvement projects, including insulation, shower doors and enclosures, shelving, garage doors and much more.
Installed Building Products, LLC was looking to refinance existing debt. Bank of America Business Capital provided a $45 million revolving credit facility to finance ongoing general corporate needs. Bank of America Merrill Lynch also is providing letters of credit and treasury management products and services.
- $35 millionElectronic manufacturing services provider$35 millionRefinance
Electronic manufacturing services provider
Headquartered in Norwalk, Ohio, EPIC Technologies, LLC is a specialty manufacturer of complex printed circuit board assemblies for the high mix, low- to medium-volume segment of the Electronic Manufacturing Services industry. Circuit boards are used in products including medical instrumentation, industrial controls, automotive, and consumer applications. EPIC manufacturers and assembles electronic components based upon customer specifications and designs.
EPIC Technologies, LLC was looking to refinance existing debt. Bank of America Business Capital provided a $35 million revolving credit facility to provide working capital and finance ongoing general corporate needs. Bank of America Merrill Lynch also is providing treasury management products and services.
| Company | Deal Size | Business Description | Deal Description |
| Connell Limited Partnership | $125,000,000 $125,000,000 General business/operating needs  Secondary aluminum casting alloys, industrial die sets and heat transfer equipment manufacturerAs a manufacturer of industrial products, Connell Limited Partnership (CLP) operates three business lines: Wabash Aluminum/Alloys, the world's largest producer of recycled aluminum casting alloy; Anchor Danly, the nation's largest die set manufacturer; and Yuba Heat Transfer, which sells to the power and process industries. A long-time client of Bank of America, CLP was well known to Bank of America Business Capital as a company with a strong management team and market leadership. So, when CLP needed the flexibility and liquidity to refinance an existing revolver and provide for working capital needs, Bank of America Business Capital provided a $125 million credit facility. | Secondary aluminum casting alloys, industrial die sets and heat transfer equipment manufacturer | General business/operating needs |
| EPIC Technologies, LLC | $35,000,000 $35,000,000 Refinance  Electronic manufacturing services providerHeadquartered in Norwalk, Ohio, EPIC Technologies, LLC is a specialty manufacturer of complex printed circuit board assemblies for the high mix, low- to medium-volume segment of the Electronic Manufacturing Services industry. Circuit boards are used in products including medical instrumentation, industrial controls, automotive, and consumer applications. EPIC manufacturers and assembles electronic components based upon customer specifications and designs. EPIC Technologies, LLC was looking to refinance existing debt. Bank of America Business Capital provided a $35 million revolving credit facility to provide working capital and finance ongoing general corporate needs. Bank of America Merrill Lynch also is providing treasury management products and services. | Electronic manufacturing services provider | Refinance |
| NES Rentals Holdings, Inc. | $300,000,000 $300,000,000 Refinance  Rental equipment companyLocated in Chicago, Illinois, NES Rentals Holdings, Inc. is the fourth largest rental equipment company in the United States and the largest heavy equipment rental and traffic safety company in the Midwest. After emerging from bankruptcy protection, NES Rentals was looking for a lender that could provide the financial flexibility the company needed to meet its operating objectives, a key one being the replenishment of its aging fleet. Bank of America Business Capital provided that flexibility with a $300 million asset-based revolver to refinance existing debt. Banc of America Securities placed a $275 million second lien term loan. Bank of America will also provide letters of credit. | Rental equipment company | Refinance |
| Amkor Technology, Inc. | $100,000,000 $100,000,000 Working capital/Growth  Semiconductor packaging and test services subcontractorFounded in 1968, Chandler, AZ-based Amkor Technology, Inc. is one of the world's largest providers of contract semiconductor assembly and test services. The company offers semiconductor companies and electronics OEMs a complete set of microelectronic design and manufacturing services. Amkor was looking for the financial flexibility to continue its global growth. Bank of America Business Capital delivered a financing solution in a short timeframe to help Amkor build its leadership position in a highly competitive industry. The $100 million asset-based credit facility will be available to provide for working capital needs and to refinance existing debt at maturity. Bank of America is also providing letters of credit. | Semiconductor packaging and test services subcontractor | Working capital/Growth |
| Weston Solutions, Inc. | $47,000,000 $47,000,000 Refinance  Environmental/redevelopment solutions providerFounded in 1957, West Chester, PA-based Weston Solutions, Inc. (WESTON) is a leading environmental engineering and redevelopment company providing integrated solutions for industry and government clients worldwide. The company's primary focus is on restoring resource efficiency by bringing facilities, land and other resources compromised by the effects of past development back to profitable use. With a strong senior management team that has brought WESTON back to profitability, the company was looking to continue to pursue an organic growth strategy. For the financial flexibility it needs to pursue its business plan, WESTON turned to Bank of America Business Capital for a $47 million asset-based credit facility. The facility will be used to refinance existing debt. | Environmental/redevelopment solutions provider | Refinance |
| W.L. Petrey Wholesale Company, Inc. | $30,000,000 $30,000,000 Refinance  Groceries, non-food and novelty items wholesalerBased in Petrey, Alabama, W.L. Petrey Wholesale Company, Inc. is a wholesaler of groceries, tobacco products, frozen foods and various nonfood and novelty items to convenience stores and small grocery stores throughout the southeast. With an experienced management team and a long history of profitability, the company was looking to manage its working capital and take advantage of strategic opportunities. To maximize its borrowing capacity and increase its' operating flexibility, W.L. Petrey turned to Bank of America Business Capital for a $30 million asset-based credit facility. The new revolving credit facility will be used to refinance existing debt. | Groceries, non-food and novelty items wholesaler | Refinance |
| MasTec, Inc. | $125,000,000 $125,000,000 Refinance  Communications and energy infrastructure service providerMasTec, Inc. (NYSE: MTZ) is a leading communications and energy infrastructure service provider in North America and Brazil. They design, build, install, maintain, and monitor internal and external networks for leading telecommunications, broadband, energy, and Fortune 1000 companies. When MasTec, Inc. needed to refinance existing debt and allow for ongoing working capital, it turned to Bank of America Business Capital. Bank of America Business Capital responded by leading a lending syndication to provide MasTec with a $150 million, five-year asset-based credit facility. This facility should give MasTec the financial liquidity it needs to meet its growth plans in a challenging credit and economic environment. | Communications and energy infrastructure service provider | Refinance |
| Top Finance Company | $20,000,000 $20,000,000 Working Capital/Growth  Sub-prime automobile sales contracts buyerLocated in Chatsworth, CA, Top Finance Company, Inc. is a buyer of sub-prime automobile sales contracts. Top Finance was looking for liquidity to grow its portfolio and expand geographically. With its expertise in the auto finance business, Bank of America Business Capital was able to increase the size of the client's previous credit facility and reduce the client's borrowing costs. The $20 million credit facility will be used to refinance existing debt and provide for ongoing working capital needs. Bank of America also will provide cash management products and services. | Sub-prime automobile sales contracts buyer | Working Capital/Growth |
| Fleetwood Enterprises, Inc. | $237,000,000 $237,000,000 Working capital/growth  Recreational vehicle and manufactured home producerHeadquartered in Riverside, California, Fleetwood Enterprises, Inc. is one of the nation's largest producers of recreational vehicles and manufactured homes. Fleetwood was looking for the financial flexibility to continue operational improvements and the liquidity to withstand cyclical swings consistent with their lines of business. Bank of America Business Capital increased the company's asset-based loan from $150 million to $237 million. Consisting of a revolver and term loan, the financing will be used for working capital and future growth needs. Banc of America Securities is lead arranger for the credit facility. Bank of America will continue to provide letters of credit and treasury management services. | Recreational vehicle and manufactured home producer | Working capital/growth |
| Federal Financial Services, Inc. | $24,000,000 $24,000,000 Working capital/growth  Consumer loan provider and automobile sales contract buyerFounded in 1995, Elkin, NC-based Federal Financial Services, Inc., provides consumer loans and purchases sales finance contracts from used car dealers. The company has four locations in North Carolina: Elkin, Rural Hill, Mooresville and Asheboro. Federal Financial was looking for liquidity to grow its portfolio and expand geographically. With its expertise in the auto finance business, Bank of America Business Capital was able to reduce the client's borrowing costs and deliver the loan in a tight time frame. The $24 million credit facility will be used to refinance existing debt and provide for ongoing working capital needs. | Consumer loan provider and automobile sales contract buyer | Working capital/growth |