BOA Business Capital Provides $55 Million to ClearRidge Capital Client

Bank of America Business Capital provided a $55 million senior secured credit facility to ClearRidge Capital’s client, a lumber and manufactured wood distributor. The asset-based loan is being used to refinance existing debt. ClearRidge Capital acted as advisor for the transaction.

"Bank of America Business Capital structured an asset-based loan that will help us reduce operating expenses given the state of the residential construction industry,” said Cedar Creek’s D. Wayne Trousdale. “We now have financing with fewer, less restrictive covenants and greater financial flexibility.”

“Because of its knowledge of the industry, experienced ownership and strong management team, Cedar Creek has a long-standing record of profitability.” said Bank of America Business Capital West Division Executive John Mostofi. “We were able to structure an asset-based loan that reflected the client’s financial strength and refinance their credit facility with more favorable terms.”

Headquartered in Tulsa, OK, Cedar Creek, Inc., is the seventh largest lumber and manufactured wood distributor in the United States. Cedar Creek has provided premium wood products to building material dealers in 15 states for more than 30 years.

ClearRidge Capital maximizes enterprise value as a business, financial and strategic advisor. ClearRidge’s Directors have completed over 200 M&A transactions, provided restructuring advice and secured new and replacement debt and equity for companies across the United States and Canada. ClearRidge provides Restructuring, Mergers & Acquisitions and Corporate Finance services to middle market U.S. companies.

Bank of America Business Capital

Bank of America Business Capital is one of the world’s largest asset-based lenders, with more than 20 offices serving the United States, Canada and Europe.

All rights reserved. Copyright: ClearRidge Capital, LLC, 2009.

ClearRidge provides Restructuring, Corporate Finance, Merger & Acquisition and Turnaround services for midsize companies.

Restructuring includes financial, operational, strategic and pre-Sale restructuring.

Corporate Finance includes advisory for raising and replacing senior, subordinated or mezzanine debt, as well as raising and replacing equity to provide the lowest cost of capital.

Mergers & Aquisitions includes buying, selling, merging and valuing midsize companies.

Turnaround, Bankruptcy and Crisis Management services include debtor and creditor advisory, bankruptcy support and turnaround management.

ClearRidge provides Top Tier advice and relationships with Middle America values and work ethic.

We have directly owned, operated and managed midsize companies. We know the business from your perspective.