CHICAGO, IL / ACCESSWIRE / June 22, 2023 / O2 Sponsor Finance, a division of Old Second National Bank, today announced that it provided $24,581,000 in senior secured credit facilities to support Tilia Holding's recapitalization of Refrig-IT Inc. and its affiliate Trilogy Warehouse Partners (together "Refrig-IT").
Headquartered in Kearny, NJ, Refrig-IT provides outsourced cold chain warehousing and supply chain services for imported nuts, dried fruits, ancient grains and other high value foods. In addition to the multiple temperature warehousing services, the company provides value-added logistics including repackaging, custom labeling, inspection, e-commerce fulfillment and transportation services. The company operates 7 locations across the Northeast and Midwest to serve the food supply chain.
"We are excited that Tilia Holdings selected O2 Sponsor Finance as senior lender to support their recapitalization of Refrig-IT. Refrig-IT has a unique service offering that creates deep relationships with its grocery, food ingredients and food & beverage manufacturing customers. We believe the company is well positioned for growth", said Nick O'Brien, Vice President, O2 Sponsor Finance.
About Refrig-IT: Refrig-It is a niche provider of cold chain warehousing and supply chain services for high value foods and branded, imported products. The company was founded 25+ years ago and is headquartered in Kearny, New Jersey with additional facilities in Newark, New Jersey. www.refrigit.com
About Trilogy Warehouse Partners: Trilogy Warehouse Partners, based in St. Louis, Missouri, is a leading provider of warehousing and supply chain management services to the food and beverage, consumer, healthcare and industrial markets. Trilogy manages both food grade and non-food grade facilities and handles frozen, dry, and perishable products across all aspects of the food storage supply chain primarily for retail grocers, food manufacturers and food distributors. www.trilogywarehousepartners.com.
About Tilia Holdings: Tilia Holdings, LLC ("Tilia") is a Chicago-based private investment firm focused exclusively on the food supply chain. Through an interdisciplinary approach to investing, Tilia partners with business services companies that support leading and emerging CPG brands. Tilia's investment team has complementary skills across operations and finance and provides expertise in scaling and growing middle-market companies. Tilia's sector-focused investment strategy has been cultivated across three-decades. "The Tilia Way" builds distinctive, growing companies underpinned by strong governance. For more information, please visit www.tiliallc.com.
About O2 Sponsor Finance: O2 Sponsor Finance is a national provider of cash flow-based loans to lower middle market businesses with typically $10 to $100 million in revenue and between $2 million and $10 million in EBITDA. O2 Sponsor Finance focuses on supporting private equity sponsors, independent sponsors and family offices in their acquisition or recapitalization of lower middle market companies. www.O2sponsorfinance.com.
About Old Second Bancorp, Inc.: Old Second Bancorp, Inc., headquartered in Aurora, Illinois, is the bank holding company for Old Second National Bank, which celebrated 150 years of operation in 2021. Old Second's common stock trades on The NASDAQ Stock Market under the symbol "OSBC". More information about Old Second is available by visiting the "Investor Relations" section of its website: www.oldsecond.com.
Old Second National Bank, Member FDIC, was recently named number one among "Best Bank in Illinois 2021." This was the second straight year the bank was selected by customers for the award. Awards are determined based on a survey of over 25,000 U.S. customers who rate banks on overall satisfaction as well as trust, terms and conditions, branch services, digital services and financial advice.
As of March 31, 2023, Old Second has approximately $5.9 billion in assets, $4.9 billion in deposits and $4.0 billion in loans.
CONTACT:
Brad Adams
630.906.5484
SOURCE: Old Second Bancorp Inc.