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TD Bank Provides $39 Million in Financing to Support the Acquisition of Albert Tire Company

September 17, 2012, 07:00 AM
Filed Under: Distribution
Related: TD Bank

TD Bank announced today its Asset-Based Lending Group has provided $39 million in financing to support the acquisition of Albert Tire Company by Bennett Capital Partners and an unnamed private investment firm. The credit facilities consist of a $35 million revolver and a $4 million term loan.

Albert Tire Company is a wholesale distributor of tires in the Mid-Atlantic region and is headquartered in West Deptford, NJ..

Joe Nemia, head of Asset Based Lending at TD Bank, commented, "This financing clearly demonstrates TD Bank's appetite to support the middle market private equity community. We are excited about these two groups' vision for this business and look forward to a long and prosperous relationship as their financial partner."

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