Situation
NAMCO, LLC, headquartered in Manchester, CT, is a retailer of pools, pool supplies and recreational equipment with 44 locations throughout the Northeast and Mid-Atlantic.

Objective
Matrix was retained by NAMCO and its majority shareholder, J.H. Whitney & Co., to refinance the Company’s line of credit with a new $20 million facility that would provide sufficient liquidity for the Company’s seasonal sales patterns.

Solution
Matrix targeted a broad universe of lenders with a comprehensive memorandum detailing the Company’s business and outlining what was being sought in a new credit facility.

Entered into extensive conversations with several lenders interested in the opportunity.

Closed transaction with a newly formed lender, Salus Capital Partners, capable of providing the seasonal overadvance required to help NAMCO operate through seasonal low periods.