Capital Sourcing: Plastics Products Manufacturer

Plastics Products Manufacturer serving automotive, appliance, and other industry OEMs and Tier I’s, missed forecast for two consecutive years due to customer revenue issues.


  • Largest customer fumbled new product launch and second largest customer experienced an extended strike – together, these events led to unexpected lower demand
  • Company missed forecast for two consecutive years as a result of these business interruptions
  • Despite quick responses by management and profitable performance, company briefly breached bank covenants
  • Relationship with senior lender became strained


  • Management engaged BlueWater Partners to assess financing options
  • Concluded the company had strong management, excellent financial reporting, and an abundance of collateral, making them attractive to several national asset-based lenders
  • Supported management in developing a comprehensive financial package to present to prospective lenders
  • Introduced the company to several lenders and presented information
  • Facilitated management meetings and plant tours
  • Helped the company review proposal letters and negotiate final terms


  • Secured a new, larger credit facility with a national ABL lender
  • New facility addresses the company’s current and long-term growth plans better than the prior facility
  • Interest rates on both the line of credit and term loan are 40% below those of prior lender
  • Covenants provide more flexibility should history repeat itself

Download the PDF version of this document