TSL Express Daily News

Siena Lending Group LLC (“Siena”) is pleased to announce the closing of a C$15.7 million credit facility to support the refinancing and working capital for growth of Arkon Solutions Corp. (“Arkon”).

Arkon, an Alberta, Canada based company, is an innovative, integrity focused manufacturer of chemical solutions that thrives on transforming complex problems into chemical solutions.

The transaction presented Siena with an opportunity to leverage the company’s primary assets – accounts receivable, inventory and equipment - to maximize liquidity available to the company. Structured as a committed asset-based revolver and term loan, the credit facility provides additional financing to accelerate Arkon’s future growth initiatives, including expanding customer relationships, launching new products, and meet the increasing demand for its innovative products.

“The Arkon team thanks everyone at Siena for all their work to get the new credit facility completed in the timeframe we needed. Despite the tight deadlines, the Siena team spent a great deal of time and effort to understand our business. We are very excited to work with Siena as they support our growth plans.” said Onkar Dhaliwal, President and Chief Executive Officer of Arkon.

“This was a transaction that demonstrates Siena’s determined and creative approach to provide Arkon with the liquidity needed to pursue their exciting growth objectives”, Duane Morrison, Siena’s Director – New Business Originations for Canada, said. “We valued the collaborative environment with Arkon’s financial advisor, owner and management team that was integral to closing the transaction.”

West Grove Capital Advisors acted as financial advisor to Arkon for raising the capital.

About Siena Lending Group:

Siena Lending Group is a leading asset based lender providing financing solutions from $10 to $100 million across the United States and Canada. Siena operates across most industry sectors and has a team of specialists within the Healthcare industry. Siena provides senior secured solutions to privately held middle-market companies and publicly traded industry leaders and has earned a reputation as a trusted financing partner to private equity firms and other financial sponsors. Since 2012, Siena has consistently found creative ways to provide borrowers with maximum flexibility and liquidity. With deep lending experience and expertise in complex situations, clients know Siena brings the patience and perspective to help them work through challenges and achieve their long-term visions.

Siena is a portfolio company of Franklin BSP Capital Corporation, an affiliate of Benefit Street Partners L.L.C. ("BSP"). BSP, a leading credit-focused alternative asset management firm, is a wholly-owned subsidiary of Franklin Resources, Inc.

For more information, visit wwww.sienalending.com or contact a Siena team member.