Grow-Well Brands, Inc.
Overview
Deal Type |
Asset Based Lending |
---|---|
Size |
$38,000,000 Asset-Based Revolving Credit Facility, Depository & Treasury Management |
Client & Transactional Partners |
Grow-Well Brands, Inc. |
Our Role |
Lead Arranger Administrative Agent |
Summary
On February 16, 2021, KeyBank Business Capital, in partnership with KeyBank’s Seattle Commercial Banking group closed on a $38 million asset based revolving credit facility and term loan facility for Gro-Well Brands, Inc. The Credit Facility refinanced existing debt and will provide additional capital to support the overall grown and working capital needs of the company. KeyBank Business Capital acted as a Lead Arranger and Administrative Agent on the transaction. In addition to the Credit Facility, KeyBank is also providing Gro-Well Brands, Inc. with a full suite of depository and treasury management services.
Gro-Well is a new client to KeyBank, and in partnership with the KeyBank Seattle Commercial team, KeyBank Business Capital structured an asset-based loan to provide increased financial flexibility and to meet the company’s long-term needs.
Gro-Well Brands, Inc. is the largest company in the Southwest US specializing in the production and marketing of all natural and organic soil and mulch products. As the region’s largest green waste recycler, Gro-Well Brands, Inc uses its proprietary composting process to make a full assortment of organic consumer goods from waste products that would otherwise end up in landfills. Operating from advanced production facilities in Arizona, New Mexico, Idaho, and California, Gro-Well Brands, Inc owns some of the most recognizable brands in all the natural, organic lawn and garden industry including Garden Time, Nature's Way, OMNI and Grow-Well soils.