Capital Southwest supports financing solution for Blaschak Coal
Published by Claire Cuddihy,
Texas-based internally managed business development company focused on providing flexible financing solutions to support the growth and acquisitions of middle market businesses Capital Southwest Corporation (Capital Southwest) an internally managed business development company supports Milestone Partners III, L.P.’s (Milestone) recent financing of Blaschak Coal Corp. (Blaschak), a domestic miner, packager and distributor of anthracite coal.
Capital Southwest invested an US$8.5 million split lien term loan to refinance existing senior debt and provide growth capital and is the sole administrative agent and lender on the split lien facility.
Managing Director of Capital Southwest, Douglas Kelley, said: "We are pleased to partner with Blaschak and Milestone in this transaction."
“Anthracite is a high grade of coal with energy content and purity characteristics that allow it to sell into unique end markets relative to the broader coal industry, with a majority of the company’s revenue derived in the rural residential heating market in the Northern US and Canada.”Principal of Capital Southwest, Matt Darrah, said: “Blaschak’s strong market position, the long-term stability of the company’s end markets and the company’s significant asset base, allowed us to offer a creative financing solution that provides increased operating flexibility to the company in a debt facility with collateral coverage for Capital Southwest.″
Blaschak is a domestic miner, packager and distributor of anthracite coal used primarily in home heating and other niche applications.
Read the article online at: https://www.worldcoal.com/coal/14082018/capital-southwest-supports-financing-solution-for-blaschak-coal/
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