December 19, 2011 - Eliason Corporation, a manufacturer of specialty commercial doors, closed a refinancing transaction on December 16th, 2011. Fifth Third Bank has provided the new senior credit facility and Midwest Mezzanine Fund remains the subordinated lender to Eliason.
In addition to a senior revolving credit facility and term loan, Fifth Third committed an acquisition facility to fund anticipated add-on acquisitions. “We are thrilled to partner with Fifth Third Bank as Eliason enters its next stage of growth. Eliason’s strong recent performance provided the opportunity to strengthen its balance sheet with a facility that will support internal growth and allow us to evaluate several acquisitions.” commented David Proctor, Partner at co-sponsor Milestone Partners.
In Roger Knight, Chairman of Eliason and Managing Partner of Lakewood Capital stated, "Fifth Third is a great choice for the Company at this stage in our development. The bank is well positioned to support the significant growth plans being implemented by the Company. We also want to acknowledge MFC Capital Funding and the efforts of its principles, Joe Gaffigan and Chris Randall, throughout MFC's hold period. The MFC team was a strong advocate for the Company from the outset and we are pleased the outcome ended so successfully. We look forward to working with the principals on future opportunities."