Webster Business Credit Corp. (WBCC), a division of Webster Bank, is providing Cooley Group with $25 million in new financing. The five-year financing package includes a combination of a revolving credit facility, a long-term note, and a capital expenditure line, all of which will be used to further support Cooley’s continued global expansion.
Cooley will use the financing to expand both its North American and international operations, including further expansion into Brazil, China, and India. Cooley currently markets and distributes its chemistry-based solutions in over twenty countries on six continents.
“We are grateful for WBCC’s commitment to the growth of the Cooley Group,” said Daniel Dwight, president and CEO of Cooley. “The combination of improved cash flow from more competitive interest rates, extended amortization schedule on the long-term debt, and the addition of a capital expenditure line will provide Cooley with the additional financial resources necessary to expand our global production capacity and marketing and distribution reach.”