$9,800,000 Equipment Financing Facility
A New Sustainable Line for Food Packaging Company
The company is an innovative packaging company that focuses on sustainability. They are a leader in the packaging industry with expertise in rigid and flexible packaging for the food industry and have developed new sustainable packaging solutions to meet changing consumer demands.
The packaging industry is in constant need of innovation, especially with the switch in consumer trends towards sustainable packaging. After looking at traditional financing, the Montreal-based packaging company turned to CapX Partners (CapX), Accord Financial’s Chicago-based affiliate, to finance the production of their newly-developed sustainable line of packaging.
A foreign ownership structure, in addition to complex financial statements, made the stand-alone financing challenging to banks and traditional lenders.
Understanding the growth benefits of obtaining and installing new manufacturing technologies, CapX provided a $9.8 million equipment loan facility to the food packaging company, which required funding for new plastic extrusion and thermoforming lines.
Accord is experienced in financing the food and packaging industries and ready to provide senior asset-based lending credit facilities and standalone equipment financing to companies seeking larger or more flexible credit facilities.