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CapX Partners Provides $2.8MM Loan to R.R. Street

November 15, 2013, 07:37 AM
Filed Under: Manufacturing

CapX Partners assisted professional cleaning substrates manufacturer R. R. Street reduce their finance cost with a $2.8 million subordinated loan. R.R. Street & Co., also known as Street’s, is one of the largest manufacturers of dry cleaning process additives, stain removal agents and filtration products in the U.S. Over its 137-year history, Street’s has continued to design, develop and market high quality cleaning processes for the professional cleaning industry.

Street’s was in the capital markets to improve its balance sheet and cost of debt capital. Their commercial bank looked to CapX to provide a second lien mezzanine tranche underneath their revolving line of credit and term loan to give Street’s long-term debt capital as well as lower their borrowing cost. CapX provided a tailored $2.8 million subordinated loan that met both the bank and Street’s needs.

Founded in 1999, CapX Partners is a specialty finance company that focuses on private equity and venture backed portfolio companies looking for debt financing in the $2 million to $20 million range. CapX favors manufacturing, distribution, technology, energy and healthcare industries with an emphasis on revenue producing fixed assets.

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