Great Rock Capital Provides $55 Million Loan to AirBoss of America Corp for Expansion

Great Rock Capital Secures $55 Million Loan for AirBoss of America Corp

On December 10, 2024, Great Rock Capital, a prominent commercial finance company that focuses on middle market lending, announced the successful closing of a significant $55 million senior secured term loan facility with AirBoss of America Corp. This agreement marks a notable advancement for AirBoss, which stands as the second largest provider of rubber solutions and custom compounding in North America. The partnership was revealed to the public through a press release by PR Newswire, shedding light on the financial maneuver aimed at enhancing AirBoss' operational liquidity.

Enhancing Liquidity and Financial Flexibility

The capital infusion from Great Rock Capital is set to play a pivotal role in refinancing AirBoss' existing debt. This strategic move not only improves the company's balance sheet but also leverages the value of AirBoss' fixed assets, ultimately maximizing their liquidity. With this enhanced financial flexibility, AirBoss is better positioned to accommodate its growth strategies and operational needs.

Stuart Armstrong, the CEO of Great Rock Capital, expressed enthusiasm over the collaboration with AirBoss. He stated, "AirBoss is a world-class platform driven by the company's strong management team and their commitment to innovation via research and development." This endorsement from Armstrong underscores Great Rock Capital's confidence in AirBoss' leadership and future growth trajectory.

About Great Rock Capital

Great Rock Capital is well-regarded for its asset-focused approach in commercial finance, particularly tailored to meet the unique requirements of middle market companies across both the United States and Canada. The firm offers swift and adaptable financing solutions that aim to maximize liquidity and support growth. The range of senior secured credit facilities they provide varies between $10 million to $100 million, including various structures such as working capital, term-heavy, and term-only loan options, all of which serve markets often neglected by traditional commercial lenders.

With substantial backing from private equity partners and a large institutional investor, Great Rock Capital is dedicated to providing tailored financial solutions that resonate with the specific needs of its clients.

AirBoss of America Corp: A Leader in Rubber Solutions

Founded in 1989, AirBoss of America has established itself as a diversified developer and manufacturer specializing in survivability solutions, advanced custom rubber compounds, and finished rubber products. The company is notable for its capability to produce high-performance materials suited for challenging environments across various sectors. AirBoss operates through two principal divisions. One focuses on custom rubber compounding, boasting an impressive annual production capacity, while the other caters to the North American automotive market, providing solutions such as anti-vibration components and ready-to-use molded products. Additionally, AirBoss plays a critical role in supplying personal and respiratory protective equipment, serving vital sectors including defense, healthcare, and emergency response.

Conclusion

The partnership between Great Rock Capital and AirBoss of America Corp signifies a collaborative effort to bolster financial health and operational capabilities in an evolving market landscape. With increased liquidity and capital, AirBoss is now equipped to pursue strategic growth initiatives that will advance its position within the rubber solutions industry. As both companies move forward, the implications of this financing arrangement are set to resonate positively across both their operational frameworks and stakeholder engagements.