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Fifth Third Business Capital Provides $9.5MM for Ross Technology

August 26, 2019, 08:50 AM
Filed Under: Manufacturing

Fifth Third Business Capital, a division of Fifth Third Bank, announced it acted as sole lender and administrative agent on the funding of a $9,500,000 senior credit facility to Leola, Pennsylvania-based Ross Technology Corporation (“Ross”).

“We are very pleased Fifth Third can once again provide compelling value to Ross Technology, which has opted to expand the relationship with our group of ABL professionals. By providing a comprehensive asset-based lending solution, Ross will be able to execute their growth and performance enhancement initiatives,” said Michael Sharkey, president of Fifth Third Business Capital.

Ross manufactures a diverse line of public safety and physical security solutions designed to protect people, property and products in a wide range of applications including slip and fall prevention, anti-terrorism force protection and heavy-duty industrial storage. The company supports ground-up construction and capital improvement projects throughout the world. Fifth Third’s credit facility was used to support the acquisition of Ross by FC Crestone LLC (“Crestone”) and Trendline Capital Equity Partners I, LP (“Trendline”) and to fund capital expansion and working capital needs going forward.

“Fifth Third Business Capital understood Ross’ business and financing needs,” said Michael Houy, partner at Crestone. “They were able to structure a facility that met our immediate liquidity requirements while providing committed capital to support future expansion and investment.”

“We appreciate Fifth Third Business Capital’s ability to expeditiously complete due diligence and structure an attractive financing package to support Ross’ future growth,” commented Carter Cheskey, managing partner at Trendline.

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