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Bank of America Business Capital Provides $55MM Facility for E.C. Barton & Company

June 18, 2013, 08:02 AM
Filed Under: Retail

Bank of America Business Capital has completed a senior secured revolving credit facility for longtime client E.C. Barton & Company to refinance the company’s existing debt and provide ongoing working capital financing.

“E.C. Barton & Company is pleased to have entered into this financing agreement with Bank of America Merrill Lynch,” said Niel Crowson, president and CEO of E.C. Barton & Company. “We have had a long and successful relationship with Bank of America Merrill Lynch, and this latest transaction exemplifies the commitment and trust we have for our financial provider. We value this collaborative relationship and look forward to continuing to grow together.”

Wilson Moore, senior vice president in Global Commercial Banking at Bank of America Merrill Lynch, has managed the E.C. Barton relationship for more than 15 years. “We are excited to continue our rich and meaningful history with E.C. Barton & Company,” Moore said. “It has been a pleasure to watch the company grow over the years, and we have been pleased to offer the financial solutions to help along the way."

Jeff McLane, president of Bank of America Business Capital, said, “We are delighted to provide this financing to help E.C Barton continue its growth. We place a high value on the relationship E.C. Barton has had with our firm, and we look forward to supporting the company in the coming years."

E. C. Barton & Company, a member of industry cooperative Do It Best, sells lumber and building materials through roughly 120 locations in Texas and 15 other states in the U.S. Southeast and the Northeast. Its divisions include Barton's, Builders Material Company, E.C.B. Brokerage and Surplus Purchasing, Surplus Warehouse, and Grossman's.

Bank of America Business Capital is one of the world’s largest asset-based lenders, with more than 10 primary offices serving the United States, Canada and Europe. It provides corporate borrowers with senior secured loans of $10 million or more, cash management, interest rate and foreign exchange risk management, and a broad array of capital markets products.

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