Pliteq Inc, a Toronto-based engineering company focused on solutions to structural, vibration, and sound control problems using recycled materials, has secured $1 million from TD Commercial Banking. The announcement follows the company’s September close of a $2.25 million deal involving an existing investor and Grenville Strategic Royalty Corp, a Canadian royalty financing firm. Corporate finance advisory firm GreenSky Capital assisted Pliteq in both transactions.
GreenSky Capital Inc. assists Pliteq Inc. in securing $1.0 million demand operating facility
Pliteq Inc. (“Pliteq”) is an engineering company dedicated to providing creative solutions to structural, vibration, and sound control problems using recycled materials.
Toronto, ON, October 22, 2013 – Pliteq, makers of the GenieClip and GenieMat, is proud to announce the closing of a $1.0 million financing with TD Commercial Banking which will enable Pliteq to fulfill the rapidly growing global demand for its products in medium and large scale multi-residential and commercial construction markets.
This financing comes shortly after a September 2013 $2.25M capital injection from an existing private investor and from Grenville Strategic Royalty Corp., a new Canadian royalty financing company.
“This operating line will allow us to drastically reduce our cost of capital and will position Pliteq for the increased growth we are seeing in both the North American and international markets. The support of a significant senior lender like TD allows us to continue scaling up our operations with the knowledge that we have a financing partner with whom we can continue to grow,” said Pliteq CEO Paul Downey.
“We would also like to thank GreenSky, who have been able to provide us with effective financing options that we were able to tailor to our unique needs. We look forward to working with GreenSky to explore future financing, merger and acquisition and other growth opportunities,” continued Downey.
About Pliteq Inc.
Pliteq is an engineering company dedicated to providing creative solutions to structural, vibration, and sound control problems using recycled materials. Pliteq’s products are made with up to 94% recycled rubber. Using elastomer technology and intellectual property, high performance solutions are researched, developed and are deployed globally in medium and large scale multi-residential and commercial construction projects. Pliteq is committed to using resources wisely and consider the impact on the environment and health and safety in all of its design and engineering choices. For more, see www.pliteq.com
GreenSky Capital is a boutique corporate finance advisory firm based in Toronto, delivering customized financial solutions to small and medium sized businesses. GreenSky mandates are long-term partnerships with high growth potential companies and dedicated entrepreneurs where GreenSky supports the execution of strategic transitional events. GreenSky principals bring together a unique combination of experience in operations, investment banking and private equity. As an operator’s investment bank, GreenSky has the ability to bring extensive capital markets experience into a real-world context. GreenSky is focused on business and relationship building as well as the ultimate transaction. For more see, www.greenskycapital.com
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