Fifth Third Business Capital Provides $9.4 Million for Amglo Kemlite

Fifth Third Business Capital, a division of Fifth Third Bank, announced it acted as sole lender and administrative agent on the funding of a new $9,417,500 senior credit facility to Bensenville, Illinois-based Amglo Kemlite Laboratories, Inc. Fifth Third’s credit facility was used to support the acquisition of Amglo Kemlite by NewCastle Partners, LLC, and to provide working capital to support future growth.

“This is the second transaction we have done with NewCastle Partners and the first buyout,” said Michael Sharkey, president of Fifth Third Business Capital. “Our team appreciates NewCastle’s experience and hands-on approach in working with management to move their portfolio companies forward.”

“We look forward to working with Grant Hyland, the CEO of Amglo Kemlite, and his executive group to expand our core lighting lamp products organically as well as by product line and corporate acquisitions,” said Jack Lowden, president and chief investment officer of NewCastle Partners, LLC. “This was a rather complex transaction for a number of reasons and the Fifth Third team did a terrific job of supporting us at every step of the process. Once again, they prove to be outstanding financing partners.”

About Fifth Third Business Capital

Fifth Third Business Capital is a division of Fifth Third Bank that provides creative asset-based financing to large corporate and middle market companies throughout the United States and Canada from $5 million and up. The team serves manufacturers, distributors, service companies, and retail chains with sales from $25 million and up, primarily with needs related to acquisitions, dividend recapitalizations, growth, debt restructurings, capital expenditures, and turnarounds. Fifth Third Business Capital provides flexible structures that include revolving lines of credit and term loans, all supported by accounts receivable, inventory, equipment, real estate, and intangibles. As part of the overall financing, Fifth Third Business Capital also selectively considers cash flow term loans supported by sufficient operating earnings to repay these loans in a timely manner.

Fifth Third Business Capital is a division of Fifth Third Bank. Credit products are subject to credit approval and mutually acceptable documentation. In the United States, deposit and credit products offered by Fifth Third Bank, Member FDIC.   Equal Housing Lender.

About Fifth Third

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio and the indirect parent company of Fifth Third Bank, an Ohio-chartered bank. As of September 30, 2019, Fifth Third had $171 billion in assets and operated 1,143 full-service banking centers and 2,487 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to approximately 53,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of September 30, 2019, had $397 billion in assets under care, of which it managed $46 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Deposit and Credit products are offered by Fifth Third Bank. Member FDIC.