Tide Rock Secures $100 Million Line Of Credit For Working Capital And Expansion
05/09/23, 5:03 PM
Location
cardiff by the seaMoney raised
$100 million
Industry
financial services
Tide Rock, a growth-oriented holding company of diverse, economically resilient B2B businesses, today announced that its investment vehicle, Tide Rock YieldCo, LLC, has secured a $100 million syndicated revolving loan facility from California Bank & Trust (CB&T), a division of Zions Bancorporation, CIBC Bank USA, and Manufacturers Bank. The facility also includes an uncommitted accordion feature of $50 million, for a total borrowing capacity of up to $150 million. Zions Capital Markets acted as the Sole Bookrunner and Administrative Agent with CIBC Bank USA as Documentation Agent for this debt facility that will enable Tide Rock to continue its rapid expansion plans through unlevered strategic acquisitions.
Company Info
Location
1953 san elijo ave.
cardiff by the sea, california, united states
Additional Info
Tide Rock Holdings is a strategic holding company, with a portfolio that comprises manufacturing, distribution, services and healthcare companies. Headquartered in San Diego, California, it is managed by experienced operators and finance professionals with expertise in lower-middle market business-to-business companies. Tide Rock invests with a long-term perspective, limited use of debt, and a focus on accelerating growth through investment in people, processes, and resources. Visit tiderockholdings.com for more information.
Media Contact
Candice Marshall
Chief Marketing Officer
cmarshall@tiderockholdings.com
Graham Banks
VP of Corporate Development
gbanks@tiderockholdings.com