PPC Closes Financing for R.R. Street & Co

Promontory Point Capital is excited to announce another one of our firm’s recent client successes.

R.R. Street & Co., Inc. (also known as “Street’s”) is a recognized manufacturer and marketer of cleaning process additives, stain removal agents, and filtration products that are sold throughout North America and to many international markets. The Company is based in Chicago, Illinois, and has been serving customers since 1876. Street’s is known for its comprehensive brand portfolio of commercial cleaning products sold worldwide. Its customers include distributors that service dry cleaners, commercial laundromats, hospitality businesses, and home furnishing companies, among others.

As the Company’s end markets continued to recover from the pandemic, R.R. Street & Co. needed to carefully manage its operations and working capital. To better support its business needs, R.R. Street’s engaged PPC to explore financing alternatives for the business. PPC analyzed the business, assessed financing alternatives, and marketed the financing opportunity to a targeted audience of bank and non-bank lenders. After evaluating various options, PPC recommended signing a financing proposal with CIBM Bank, which subsequently closed a new financing commitment to address the Company’s financing objectives. PPC closed this new senior debt financing package for R.R. Street & Co. during the second quarter of 2024 representing another successful Done Deal for our firm.