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Legacy Corporate Lending Provides $25MM Asset-Based Credit Facility to Fairway Lumber

April 09, 2024, 08:03 AM
Filed Under: Lumber

Legacy Corporate Lending provided a $25 million asset-based credit facility to Fairway Lumber Co. Inc. The financing, finalized in March 2024, underscores Legacy's commitment to delivering tailored financial solutions to middle market companies across diverse industries.

Established in 1997, Fairway Lumber has emerged as a prominent wholesale trader of lumber, plywood, wood pellets, and related products, primarily operating along the East Coast of the United States. Led by CEO Rich Spallone, the company has expanded its operations to meet the demands of a growing customer base.

"Fairway Lumber's growth efforts resonate with our mission to empower businesses through flexible and responsive financing solutions," said Clark Griffith, CEO of Legacy Corporate Lending. "We are proud to be Fairway Lumber’s partner of choice on this transaction and look forward to supporting them as they
continue to execute their strategic growth plans.”

"The Legacy team’s deep understanding of our industry and ability to provide a tailored financing solution has been instrumental in facilitating our growth initiatives,” said Mr. Spallone. “Legacy was a valued partner on this important financing, and we look forward to a continued partnership.”

“We are pleased that our in-depth industry knowledge and ability to quickly deliver a bespoke credit facility provided Fairway Lumber with confidence that its business needs would be met in an efficient and effective manner,” said Margaret Ceconi, Executive Vice President of Portfolio and Underwriting at Legacy.

Launched in May 2023 in partnership with Bain Capital Credit, L.P., Legacy provides revolving credit facilities and term loans to companies in an array of industries that seek to access capital outside of traditional bank lending or the syndicated lending market.

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