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Cambridge Savings Bank’s ABL Team Closes $8MM Deal with Mohawk Rubber Sales of NE

September 09, 2020, 09:00 AM
Filed Under: Distribution

Cambridge Savings Bank (CSB) announced the closing of an $8,000,000 senior secured credit facility with Mohawk Rubber Sales of NE Inc. (Mohawk Rubber Sales), the largest family-owned and operated distributor of tire parts, equipment and supplies to motor vehicle service centers and repair shops throughout the United States. Mohawk Rubber Sales is headquartered in Hingham, Massachusetts.

The credit facilities provided by CSB’s Asset-Based Lending Team allowed Mohawk Rubber Sales to refinance their existing senior debt and provides ongoing working capital financing in support of continued business growth and initiatives.

“Our goal was to find a partner who would understand our business’ needs,” said Brian McGeoghegan, President of Mohawk Rubber Sales. “Throughout the entire process, John and the CSB ABL Team were both reliable and dependable. They supported us each and every step of the way— further assuring that we found a true partner in Cambridge Savings Bank.”

“We’re very pleased to be working with Brian McGeoghegan and his team at Mohawk Rubber Sales and to assist this 88-year-old company with achieving many more years of success,” said John Bobbin, FVP, Asset-Based Lending at Cambridge Savings Bank. “Mohawk Rubber Sales’ business and community values will align very well culturally and strategically with CSB.”

“The Mohawk Rubber Sales closing is yet another example of how relationship banking, as provided by Cambridge Savings Bank, rises to the top. We are proud to add another family owned and operated business to our ABL portfolio of relationships,” added Keith Broyles, SVP, Head of Asset-Based Lending, Cambridge Savings Bank.

Cambridge Savings Bank’s commercial division offers a full suite of Corporate Banking and Lending, Commercial Real Estate Lending, Cash Management and Trade Services solutions that can be customized to meet your business needs.

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