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Phoenix Capital Resources Assists Action Ambulance with $6.4MM Refinancing

July 12, 2019, 08:40 AM
Filed Under: Transportation

Phoenix Capital Resources (Phoenix), a leadng middle market special situations investment bank, acted as the exclusive financial advisor and investment banker to Action Ambulance in arranging, structuring, and negotiating a $6.4 million refinancing. Using a combination of traditional senior and alternative debt, Phoenix was able to secure $6.4 million in committed facilities.

Action Ambulance is a 40+ year old ambulance and specialized transportation service company located in New England. Since its founding, the Company has grown from providing primarily paramedic services to providing non-emergency transportation, chair-car and paratransit services as well. Action Ambulance provides emergency services in nine communities and services a multitude of organizations including, but not limited to, municipalities, hospitals, and nursing homes.

Phoenix Capital Resources was engaged by Action Ambulance to refinance the Company’s existing credit facilities and secure additional working capital to finance ongoing operations and future initiatives for growth. Throughout the marketing process, several potential partners were solicited including both traditional and alternative lenders. The refinancing effort was led by Joseph Nappi, Senior Managing Director at Phoenix Capital Resources. “Phoenix is pleased that the new financing will provide our client with a solution that meets the objectives of the Company and provides additional capital to support continued growth,” commented Nappi.

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