Citizens provided an asset-backed credit facility to the Belknap White Group to refinance existing debt, provide funds to acquire the assets of Swiff-Train Corporation and support future growth. The new facility consolidates two separate facilities provided by Citizens. Citizens acted as joint lead arranger.
Located in Mansfield, MA, the Belknap White Group is the one of the largest floor covering distribution companies in the United States. The company provides a broad product portfolio of leading brands, including a variety of solid or engineered wood options, laminate and vinyl, ceramic tiles and supplies.
In October 2022, The Belknap White Group acquired the assets of Swiff-Train Corporation, a Houston-based flooring distributor. This followed the acquisition of the portion of JJ Haines & Company it did not already own in February 2022. A controlling interest in Baltimore-based JJ Haines was purchased in 2019.
Paul Castagliuolo, president of The Belknap White Group said: “Kevin Chamberlain and his team thoroughly understood our business and created an expertly tailored solution that allowed us to expand our operations.”
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