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Ares Commercial Finance Provides $21MM Credit Facility to Conner Industries, Inc.

January 16, 2018, 07:15 AM
Filed Under: Manufacturing

Ares Commercial Finance announced that it has provided a $21 million senior secured credit facility to Conner Industries, Inc., which includes an $18 million revolving line of credit and a $3 million real estate term loan. Proceeds of the financing will be used to refinance the company’s existing credit facility and support ongoing working capital needs.

Conner Industries is a provider of industrial wood products and services to the materials handling industry. The company specializes in supplying cut lumber (softwoods, hardwoods, and panel woods) needed for pallets, shelving, and crate & skid parts, or fully assembled wooden pallets & skids, crates, and industrial containers.  The company’s high quality packaging products are used in a wide variety of industries including, but not limited to: automotive, aerospace, construction, chemical, energy and plastics.  Conner services its customers nationwide from its own remanufacturing plants located in eight states:  FL, GA, MI, OK, SC, TN, TX and VA.  Conner was founded in 1981 and maintains its headquarters in Fort Worth, TX.

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