Fifth Third Business Capital Provides $9.5 Million for Ross Technology

Fifth Third Business Capital, a division of Fifth Third Bank, announced it acted as sole lender and administrative agent on the funding of a $9,500,000 senior credit facility to Leola, Pennsylvania-based Ross Technology Corporation (“Ross”).

“We are very pleased Fifth Third can once again provide compelling value to Ross Technology, which has opted to expand the relationship with our group of ABL professionals. By providing a comprehensive asset-based lending solution, Ross will be able to execute their growth and performance enhancement initiatives,” said Michael Sharkey, president of Fifth Third Business Capital.

Ross manufactures a diverse line of public safety and physical security solutions designed to protect people, property and products in a wide range of applications including slip and fall prevention, anti-terrorism force protection and heavy-duty industrial storage. The company supports ground-up construction and capital improvement projects throughout the world. Fifth Third’s credit facility was used to support the acquisition of Ross by FC Crestone LLC (“Crestone”) and Trendline Capital Equity Partners I, LP (“Trendline”) and to fund capital expansion and working capital needs going forward.

“Fifth Third Business Capital understood Ross’ business and financing needs,” said Michael Houy, partner at Crestone. “They were able to structure a facility that met our immediate liquidity requirements while providing committed capital to support future expansion and investment.”

“We appreciate Fifth Third Business Capital’s ability to expeditiously complete due diligence and structure an attractive financing package to support Ross’ future growth,” commented Carter Cheskey, managing partner at Trendline.

About Fifth Third Business Capital

Fifth Third Business Capital is a division of Fifth Third Bank that provides creative asset-based financing to large corporate and middle market companies throughout the United States and Canada from $5 million and up. The team serves manufacturers, distributors, service companies, and retail chains with sales from $25 million and up, primarily with needs related to acquisitions, dividend recapitalizations, growth, debt restructurings, capital expenditures, and turnarounds. Fifth Third Business Capital provides flexible structures that include revolving lines of credit and term loans, all supported by accounts receivable, inventory, equipment, real estate, and intangibles. As part of the overall financing, Fifth Third Business Capital also selectively considers cash flow term loans supported by sufficient operating earnings to repay these loans in a timely manner.

Fifth Third Business Capital is a brand name of Fifth Third Bank. Credit products are subject to credit approval and mutually acceptable documentation. Nothing herein should be construed as legal, tax or accounting advice, nor a commitment to extend financing. In the United States deposit and credit products offered by Fifth Third Bank, Member FDIC. Equal Housing Lender. 

About Fifth Third

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio and the indirect parent company of Fifth Third Bank, an Ohio-chartered bank. As of June 30, 2019, Fifth Third had $169 billion in assets and operated 1,207 full-service Banking Centers and 2,551 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to approximately 53,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2019, had $399 billion in assets under care, of which it managed $46 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Deposit and Credit products are offered by Fifth Third Bank. Member FDIC.

About Crestone

Crestone, located in Greenwood Village, Colorado, is an operationally-focused private investment firm targeting lower middle-market businesses. Crestone partners with strong management teams to create significant value through materially improving operations and supporting organic and strategic growth initiatives. Since 2007, Crestone has completed 26 investments across a wide range of industries.

About Trendline

Trendline is a private equity fund that specializes in acquiring middle market traditional manufacturing, distribution and select service businesses located primarily in central and eastern Pennsylvania, southern New Jersey and northern Maryland. Trendline is located in Wyomissing, Pennsylvania.