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January 6, 2016

Phoenix Capital Resources Assists Polymeric Resources Corporation in Completing a Successful Refinancing through Ares Commercial Finance

Philadelphia, PA (January 6, 2016) — Phoenix Capital Resources, a leading middle market situations investment bank, acted as the exclusive financial advisor and investment banker to Polymeric Resources Corporation in arranging, structuring and negotiating a refinancing of $47 million through Ares Commercial Finance. The new refinancing consists of two senior secured revolving credit facilities for both their U.S. and Canadian operations totaling $30 million, two term loans totaling $12.5 million secured by real estate and machinery and equipment in Canada, a $500,000 term loan secured by the machinery and equipment in the U.S., and a consolidated $4 million capital expenditure facility. The proceeds from the new refinancing will be utilized to fund the continued growth of Polymeric, as well as ongoing working capital needs and capital expenditure projects.

Headquartered in Wayne, NJ, Polymeric is a leading North American manufacturer and compounder of nylon 6, nylon 6/9, specialty nylons and other polymer products. The company engages primarily in the production of engineering thermoplastics through polymerization and compounding as well as involvement in resource recovery of recycled products and de-polymerization. With over 40 years of experience, it is a proven supplier to the automotive, wire and cable, injection molding, and carpet fiber industries.

Ares Commercial Finance LP (“Ares Commercial Finance”) is a limited partnership formed by Ares Management, L.P., a leading global alternative investment manager and parent to several registered investment advisers, headquartered in Los Angeles, CA with offices across the United States, Europe and Asia. Ares Commercial Finance, headquartered in New York with offices in Atlanta and Los Angeles, provides collateral and cash flow loans to small and middle-market companies as well as asset based facilities to specialty finance companies. Phoenix Capital Resources was engaged by Polymeric Resources Corporation to refinance the company. Vince Colistra, who led the refinancing effort with the support of Kevin Barr, Vice President at Phoenix Capital Resources commented “Phoenix has had a relationship with Polymeric for the last eight years and has done a number of deals with folks at Ares, who completed the transaction from proposal to closing in less than four months.”

About Phoenix:

For 30 years, Phoenix has provided smarter, operationally focused solutions for middle market companies in transition. Phoenix Management Services® provides turnaround, crisis and interim management, specialized advisory and operational due diligence services for both distressed and growth oriented companies. Phoenix Transaction Advisory Services provides quality of earnings, management/organizational review, business integration, sell-side business preparation and other transaction related support. Phoenix Capital Resources® provides seamless investment banking solutions including M&A advisory, complex restructurings and capital placements. Phoenix Capital Resources is a U.S. registered broker-dealer and member of FINRA and SIPC. Proven. Results.®

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