Siena Lending Group Closes New $35 Million Credit Facility for Charah Solutions, Inc.
May 13, 2024
Source: Siena Lending Group LLC
Siena Lending Group LLC ("Siena") is pleased to announce the closing of a $35 million credit facility with Charah Solutions, Inc. (“Charah”) or (“Company”), a leading provider of mission-critical environmental services and by-product recycling to the power generation industry. The new two-year credit facility was utilized to refinance existing debt as well as to provide additional working capital to support the Company's growth.
Commenting on the Company’s new and expanded debt facility, Matthew Sutton, Charah’s Chief Executive Officer and President, said “Siena was creative in being able to structure a facility that met our needs and at the same time comply with existing debtholder requirements. Siena was extremely professional and a pleasure to work with.”
“Charah is a very well-run company, and we were fortunate to be given the opportunity to finance a market leader in the environmental services space,” said Stephen Fuscaldo, Siena’s Managing Director. “Our group at Siena feels very proud that we can support a company that has such a positive effect on our environment.”
Scott Elliotto, President of Siena, comments that "this was a great example of Siena putting in the effort to understand the operations and assets of a business, and developing solutions to maximize liquidity. We look forward to working with this experienced management team and strong ownership group."
About Siena Lending Group:
Siena Lending Group is a leading asset-focused lender providing financing solutions from $10 to $100 million across the United States and Canada. We operate across most industry sectors and provide senior secured solutions to privately held middle-market companies and publicly traded industry leaders. Siena has also earned a reputation as a trusted financing partner to private equity firms and other financial sponsors. Since 2012, Siena has consistently found creative ways to provide borrowers with maximum flexibility and liquidity. With deep lending experience and expertise in complex situations, clients know Siena brings the patience and perspective to help them work through challenges and achieve their long-term visions. Siena Healthcare Finance, a specialized division of Siena, is dedicated exclusively to providing financing within the healthcare sector.
Siena is a portfolio company of Franklin BSP Lending Corporation, an affiliate of Benefit Street Partners L.L.C. ("BSP"). BSP, a leading credit-focused alternative asset management firm, is a wholly-owned subsidiary of Franklin Resources, Inc.
Commenting on the Company’s new and expanded debt facility, Matthew Sutton, Charah’s Chief Executive Officer and President, said “Siena was creative in being able to structure a facility that met our needs and at the same time comply with existing debtholder requirements. Siena was extremely professional and a pleasure to work with.”
“Charah is a very well-run company, and we were fortunate to be given the opportunity to finance a market leader in the environmental services space,” said Stephen Fuscaldo, Siena’s Managing Director. “Our group at Siena feels very proud that we can support a company that has such a positive effect on our environment.”
Scott Elliotto, President of Siena, comments that "this was a great example of Siena putting in the effort to understand the operations and assets of a business, and developing solutions to maximize liquidity. We look forward to working with this experienced management team and strong ownership group."
About Siena Lending Group:
Siena Lending Group is a leading asset-focused lender providing financing solutions from $10 to $100 million across the United States and Canada. We operate across most industry sectors and provide senior secured solutions to privately held middle-market companies and publicly traded industry leaders. Siena has also earned a reputation as a trusted financing partner to private equity firms and other financial sponsors. Since 2012, Siena has consistently found creative ways to provide borrowers with maximum flexibility and liquidity. With deep lending experience and expertise in complex situations, clients know Siena brings the patience and perspective to help them work through challenges and achieve their long-term visions. Siena Healthcare Finance, a specialized division of Siena, is dedicated exclusively to providing financing within the healthcare sector.
Siena is a portfolio company of Franklin BSP Lending Corporation, an affiliate of Benefit Street Partners L.L.C. ("BSP"). BSP, a leading credit-focused alternative asset management firm, is a wholly-owned subsidiary of Franklin Resources, Inc.