Optimas Solutions, a global provider of integrated supply chain solutions, including fasteners and MRO consumables, announced that it has completed a comprehensive refinancing of its debt structure, which positions the company well for long-term growth.
According to Optimas’ CFO, Jim Japczyk, the refinancing will enable Optimas to support its operational growth objectives and to deliver against its Manufacturing Solutions business strategy announced in August 2020.
“This event is quite transformational for Optimas,” he said. “We showed strong execution against our strategy at the close of last year and this allows us to build on that. This refinancing will improve overall cashflow, providing more resources to expand and grow the business. We fully expect this transaction will result in existing and potential customers entrusting their business with Optimas with greater confidence.”
The financial transaction was completed on December 30, 2020, and provides for enhanced liquidity, a five-year maturity, and significant reductions both in the quantum of debt and the interest expense going forward for Optimas.
“In August of last year, we implemented our Manufacturing Solutions strategy, which really changed the trajectory of the company, particularly with strong performance in Q4,” said Marc Strandquist, CEO of Optimas. “Now, with this refinancing we can transform the business over the next few years as we follow our strategy to deliver more to our customers and strengthen our relationship with suppliers.”
Filed Under: Fastener industry news