BDC Capital Provides Solution for Maine Trailer, Inc.

BDC Capital provided a unique, three-tiered financing package for Maine Trailer, Inc. to assist in the recapitalization of the company and to provide working capital for an expansion of the business. Maine Trailer leases and services over the road, storage and office trailers, sells utility trailers and distributes heavy duty parts.

BDC Capital provided a revolving line of credit for working capital, with a new bank handling all cash management requirements, a term loan for debt refinance and new capital expenditures, and a mezzanine investment to assist in the recapitalization of the company.

BDC structured a transaction that repaid the existing bank debt, provided funds for on-going working capital and increased cash flow by lowering the monthly debt service requirement. According to Bill Peters, President of Maine Trailer, “We talked with many lenders and capital providers about the right capital financing plan for Maine Trailer. BDC Capital was unique in being able to structure not only our working capital and term debt, but also the mezzanine investment that we needed to complete the recapitalization of the company.”