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November 16, 2016

Phoenix Capital Resources Assists Southeastern Aluminum Products, Inc. in Successfully Completing a Refinancing with MB Business Capital

Southeastern Tombstone Philadelphia, PA (November 16, 2016) — Phoenix Capital Resources (“Phoenix”), a leading middle market special situations investment bank, acted as the exclusive financial advisor and investment banker to Southeastern Aluminum Products, Inc. (“Southeastern” or the “Company”) in arranging, structuring and negotiating a $10.5 million senior credit facility with MB Business Capital. The new financing consists of a new asset based revolver and a new term loan. The new credit facility provides the Company with more favorable financing terms, additional working capital liquidity, and an injection of growth capital.

Southeastern is a leading manufacturer of bath enclosures and shower doors for the residential, commercial and the remodeling building industry, servicing the United States, Canada, Central and South America, and the Caribbean from manufacturing and distribution facilities in Jacksonville, Florida; Indianapolis, Indiana; and Phoenix, Arizona. The Company manufactures and distributes both custom and stock enclosures, consisting of aluminum, stainless steel, brass, and glass. The Company has a dynamic range of products ranging from low-end manufactured housing units to heavy luxury offerings. Presently, Southeastern has a sales force and distribution network that covers a majority of the nation’s fastest growing metropolitan areas.

With the passing of one of the two owners and the desire of the remaining owner to sell the business sometime in 2017 and have the two sons of the respective owners participate in the sale process from an ownership point of view, the Company approached Phoenix based on its long standing relationship from past transactions, to explore its strategic options and assist with the need for additional capital to fund the continued growth in the business.

Phoenix assisted the Company in identifying and executing the optimal capitalization transaction designed to align the Company’s existing shareholders’ intentions to partially monetize his equity position in anticipation of selling the Company in 2017 and infuse Southeastern with additional growth capital to fuel the continued growth of the business. Phoenix structured a Leveraged Recapitalization for the Company wherein Phoenix secured a new and expanded asset based revolver and a new term loan from MB Business Capital. Bill Jackson, owner of Southeastern Aluminum, Inc. noted, “The new revolver provided by MB Business Capital offered more favorable financing terms and conditions that resulted in approximately twice the loan availability as compared to our existing revolving credit facility.”

“The new term loan enabled the remaining owner to take a sizable distribution while at the same time provided the Company with additional capital to fund its continued growth plans”, added Vince Colistra, Senior Managing Director and Shareholder of Phoenix Capital Resources.”

About Phoenix:

For over 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 implementation 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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