A&R Logistics Inc announced it has completed a refinancing of its existing $40 million in subordinated debt with two new partners, Brookside Mezzanine Partners and Hartford Investment Management Company. This is the last step in a complete refinancing of approximately $180 million of debt and reflects market confidence in A&R's strength and performance, according to A&R Logistics leadership..
"This renewal provides the flexibility we need to continue investing in and growing our company," said Richard Mitchell, A&R Logistics president. "The new financing facility provides greater latitude to deliver on our strategic priorities. We are very excited to be moving forward with Brookside and HIMCO as partners of A&R."
"A&R possesses the attributes we look for in an investment partner, strong historical growth with great opportunity for further expansion, market leadership and exceptional management," said Corey Sclar, Brookside's Managing Partner. Tim Greene, Portfolio Manager of Mezzanine and Private Equity at HIMCO, added, "We are excited to partner with A&R to support their continued growth and success."
Headquartered in Louisville KY, A&R Logistics is a leading provider of dry-bulk transportation, packaging, distribution, and logistics solutions to numerous multinational companies within the chemical and plastic industries. A&R provides a comprehensive suite of services including over-the-road transportation, transloading, packaging, warehousing, and end-to-end outsourced transportation management through a nationwide network of 25 facilities, a combination of company-owned equipment, owner operators, and a non-asset based transportation management division.