Philadelphia, PA – January 4, 2011
Leading middle-market turnaround management firm, Phoenix Management Services, acted as financial advisor to Reitnouer, Inc. in conjunction with the structuring and negotiation of a $7.5 million revolving credit facility agented by North Mill Capital, LLC. Proceeds from the transaction were utilized to repay existing indebtedness and to provide working capital in support of Reitnouer’s continued growth. Founded in 1982 and based in Reading, PA, Reitnouer is the country’s leading manufacturer of bolted, aluminum flatbed and drop-deck trailers. “We are pleased to be associated with North Mill Capital as our new lender,” said Bud Reitnouer, President of Reitnouer. “They really took the time to understand our business and growth prospects and, with the assistance of Phoenix, were able to structure and deliver a loan structure that meets our needs.” North Mill Capital is an asset-based lender headquartered in Princeton, NJ that provides asset-based loans up to $10 million. “We were very impressed with the industry-leading position of Reitnouer,” said Dan Tortoriello, EVP, and COO of NorthMill. “It was clear to us that they needed a more flexible financing package to address their growing backlog.” “We are pleased to be of assistance in this matter,” said Michael Jacoby, Phoenix Senior Managing Director, and Shareholder. “We look forward to continuing to assist Reitnouer as it executes on its growth plans.”
About Phoenix
For over 25 years, Phoenix has provided smarter, operationally focused solutions for middle-market companies in transition. Phoenix Management Services provides turnaround, crisis and interim management, specialized advisory and operational due diligence services for both distressed and growth-oriented companies. Phoenix Capital Resources provides seamless investment banking solutions including M&A advisory, complex restructurings, and capital placements. Proven. Results.®
To learn more, visit www.phoenixmanagement.com & www.phoenixcapitalresources.com.