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Getzler Henrich Advises on GIC’s $40MM Facility With NewStar Business Credit

October 17, 2013, 07:58 AM
Filed Under: Distribution

Getzler Henrich & Associates announced that it had served as financial advisor to General Insulation Company (“GIC”), a Boston-based distributor of commercial and industrial insulation, HVAC, and fire-stop products, and related accessories including gaskets and tapes.

GIC serves a wide range of contractors, OEMs, and supply houses throughout North America.   Proceeds from the new financing will be used to provide working capital, fund future growth, and for general corporate purposes.  NewStar Business Credit provided the company with a $40 million senior secured credit facility and syndicated a portion of the credit facility to BBVA Compass.  

Margie Kaufman, managing director in the Boston office of Getzler Henrich, led the effort.  “Margie really understood our business,” commented Frank Granara, president and chief executive officer. “She was able to help us identify new sources of financing that were attuned to the New England marketplace, and in particular, to our unique financing needs.”

“It was very easy to work with Frank Granara and his experienced team of managers at General Insulation Company,” commented Kaufman. “Once the go-forward plan was established, I needed to find a lender who could structure a credit facility to meet the needs of General Insulation and its growing business. The company received a number of replies;  NewStar responded quickly and delivered a comprehensive financing solution to the company, including lending syndicate, which will support potential future financing needs.”
Getzler Henrich is one of the nation’s most respected names in middle-market corporate restructuring; the firm also helps under-performing companies identify and address operational issues. Its seasoned professionals provide comprehensive services, outside and inside of bankruptcy, in the areas of turnaround and restructuring, crisis and interim management, process improvement and LeanSigma, sales and marketing, and transaction advisory services.

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