North Mill Capital Secures $90 Million Credit Facility

This week North Mill Capital announced it has obtained a $90 million credit facility led by Wells Fargo Capital Finance. The new, three-year facility, replaces North Mill's existing Senior Secured Credit Facility. The facility will also be used for working capital and to support future growth.  North Mill is excited to work with Well Fargo, according to president and chief executive officer of North Mill, Jeffrey Goldrich:

"We are pleased to work with Wells Fargo Capital Finance. As we have grown and expanded our products and geographic reach we now require the strength of Wells Fargo and the sophistication in lender finance that it brings with it," Goldrich went on to say, "We worked closely with Andrea Petro, Stewart Hayes and the Wells Fargo team to structure a credit facility, providing us with increased liquidity, the ability to pursue strategic opportunities, continue with organic growth and stay competitive."

Andrea Petro, senior managing director and division manager of the Lender Finance division at Wells Fargo Capital Finance, confirms the financial division at Wells Fargo is equally pleased about the partnership:

"North Mill is a strong brand and highly reputable company within the ABL market space and I am pleased to have Wells Fargo lead this credit facility... We look forward to continuing our long term relationship with North Mill."

Dan Zwirn founded the EX-BACC Management Team in order to create North Mill Capital and brought in private-equity firm, Monitor Clipper Partners, to co-invest in Colford Capital LLC.  In November 2012, Colford Capital created subsidiary North Mill Equipment Finance LLC, to acquire Equilease.

Read the full article on North Mill Capital's new credit facility led by Wells Fargo here.