Great Rock Capital Closes Term Loan Facility with Pennex Aluminum

Capital to support industry-leading aluminum supplier

Westport, CT – October 8, 2024 -- Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the closing of a senior secured term loan facility with Pennex Aluminum (“Pennex”).  Pennex is a leading manufacturer of aluminum products, offering a full range of services that include casting, extrusion, and fabrication. Known for its diverse alloy options, reliable delivery, and strong customer service, Pennex operates multiple integrated business units that position it as a comprehensive provider of aluminum solutions.

Great Rock Capital served as the term loan agent and partnered with the revolver agent, Bank of Montreal (“BMO”), to create a flexible financing structure that will maximize the firm’s liquidity.

"Unwaveringly committed to serving the needs of our customers and investors, Pennex is excited to strengthen its relationship with a respected and trusted business partner like Great Rock Capital as we continue to grow and evolve as an organization," said Matt Rohm, CEO of MX Holdings, parent company of Pennex.

“Pennex has built an industry-leading platform centered around integrity, innovation, and superior customer service,” said Stuart Armstrong, CEO of Great Rock Capital.  “We are pleased to partner with BMO and provide the company with additional liquidity to support the continued growth of their business.”

About Great Rock Capital

Great Rock Capital is an asset-focused commercial finance company that specializes in serving the needs of middle market companies across the United States and Canada.  The Company provides fast, flexible, and creative financing solutions that maximize liquidity and provide growth capital.    The senior secured credit facilities offered by the firm range in size from $10MM to $100MM and include working capital, term-heavy, and term-only loan structures not provided by traditional commercial lenders.  The firm has significant capital commitments from its partners, a private equity business and a large institutional investor. To learn more, visit www.greatrockcapital.com.

About Pennex

Pennex in an industry-leading manufacturer, providing aluminum cast products, extrusions, and fabrications to multiple industries.   As a member of the MX Holdings family of companies, Pennex is able to leverage the diverse expertise of other subsidiaries such as Metal Exchange to deliver fully integrated solutions across the aluminum lifecycle. Learn more at www.pennex.com. 

About BMO’s Asset-Based Lending Group

BMO Commercial Bank can help your company leverage the value of its assets to meet a wide variety of financing needs, both domestically and internationally. Whether to support acquisitions, recapitalizations, growth in working capital, restructurings, or turnaround situations, BMO Commercial Bank's asset-based lending provides flexible financing solutions that are outside the typical lending criteria of most traditional banks. Our dedicated team of ABL specialists will work closely with you to understand your unique business needs and structure flexible financial solutions that help you achieve your vision.

Great Rock Capital Contact:

Jenn Cronin
Managing Director, Marketing and Business Development
(203) 557- 6277
cronin@greatrockcapital.com