News Details :
News Details:
Headline : United States : A&R Logistics concludes refinancing of $40m subordinated debt
Summary : A&R Logistics has concluded a refinancing of its current $40m in subordinated debt with two new partners, Brookside Mezzanine Partners and Hartford Investment Management Company (HIMCO).

This is the last step in a full refinancing of debt of around $180 million and shows the markets confidence in A&R's strength and performance.

Richard Mitchell, President, said, "This renewal provides the flexibility we need to continue investing in and growing our company. The new financing facility provides greater latitude to deliver on our strategic priorities. We are very excited to be moving forward with Brookside and HIMCO as partners of A&R."

Corey Sclar, Brookside's Managing Partner. Tim Greene, Portfolio Manager of Mezzanine and Private Equity at HIMCO, added, "A&R possesses the attributes we look for in an investment partner, strong historical growth with great opportunity for further expansion, market leadership and exceptional management. We are excited to partner with A&R to support their continued growth and success."

Based in Louisville, KY, A&R Logistics provides dry-bulk transportation, packaging, distribution and logistics solutions to numerous global companies within the chemical and plastic sectors.