NEW YORK, July 16, 2007 /PRNewswire/ — Golub Capital today announced that it has provided PECO Pallet, Inc. with a $40 million GOLD debt financing, which was used to refinance existing debt and provide a capital expenditure line to support the Company’s rapid growth. GOLD financings are proprietary Golub Capital One-Loan Debt facilities.
PECO Pallet is the second largest provider of pallet rental and management services to the grocery and consumer goods industries in the United States. The Company has a blue chip customer base that includes Georgia Pacific, Kimberly-Clark, Nestle Purina and Cott Beverage, in addition to strong relationships with many of the top grocery chains in the United States.
“Right from our first meeting we were extremely impressed by PECO’s value proposition, customer relationships and its day-to-day execution,” says Andy Steuerman, a Managing Director with Golub Capital. “We are pleased to support PECO’s management team as they continue their targeted expansion to enhance the Company’s market position”
David Lee, CEO of PECO Pallet, said: “Golub Capital’s financing constitutes a major step forward for PECO. We formed a strong partnership with the Golub team during the course of completing this deal. We are now well positioned to enhance our value proposition further and continue to grow our business throughout North America.”
About Golub Capital
Golub Capital is an active provider of one-loan debt financings (through the Firm’s proprietary GOLD facility), and we offer innovative combinations of senior debt, subordinated and second lien debt, preferred stock and co- investment equity capital. The firm is committed to being a value-added and user-friendly partner to owners, senior management and transaction sponsors. With a broad investment mandate and long-term time horizon, Golub Capital has a high level of flexibility in structuring investments. Typical investments range from $5 million to $75 million, with additional capital available for future growth. Golub Capital is a national firm with offices in Atlanta, Chicago, New York and San Francisco. For more information, please visit www.golubcapital.com.
First Call Analyst:
SOURCE: Golub Capital