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TCF Capital Funding Provides Senior Financing for Breen Color Recap

February 05, 2013, 07:36 AM

TCF Capital Funding (TCFCF), the Chicago-based leveraged finance division of TCF National Bank, announced it provided $10.5 million in senior secured credit facilities in support of the recapitalization of East Coast Colorants, LLC d/b/a Breen Color Concentrates and affiliated entities. Breen is a current portfolio company of Spell Capital Partners, LLC.

Based in Lambertville, NJ, Breen is a leading manufacturer of custom and stock color concentrates for the plastics industry. Breen develops and produces custom color concentrates, utilizing proprietary formulations and its technical expertise to meet the exacting needs of its customers. In addition to custom formulations, Breen’s range of products includes products using additives and agents to achieve specific physical, chemical, or aesthetic properties. The company supplies its color concentrates to a number of end markets, and is the market leader in the wire & cable segment.

Edward J. Ryczek, senior vice president of TCF Capital Funding, said, “We are excited to enter into this relationship with Spell and with the management team at Breen. We look forward to working closely with both Breen and Spell.”

TCF Capital Funding provides asset-based and cash flow lending to lower middle market businesses. National in scope, this senior leveraged lending group focuses on providing asset-based loans and private equity sponsor-backed cash flow loans to companies with less than $100 million in revenue and between $2 million and $10 million in EBITDA.

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