First National Capital, a full-service provider of commercial equipment and project finance, closed $22 million in strategic financing for a packaging and printing company to support a contract with a blue-chip customer.
The client faced challenges such as tight debt coverage at 1.2x, limited liquidity and long lead times for capital investments. After securing a $22 million contract requiring new equipment, the company partnered with First National to develop a financing plan that met senior lender needs and facilitated equity restructuring.
The financing package included progress payments during equipment installation and ramp-up. The capital enabled the acquisition of digital press and finishing equipment.
“Every client we serve has unique objectives and challenges,” Ben Frank, chief revenue officer of First National, said. “At First National Capital, our team uses extensive industry expertise to craft creative financing solutions that support our clients’ ambitions today and into the future. True partnership means solving problems together and building lasting value.”
