TerraNova Capital Arranges $25 Million Term Loan for Riccelli Enterprises, Inc.
NEW YORK, July 15, 2021 — TerraNova Capital Structured Finance, the credit advisory and special purpose finance division of TerraNova Capital Equities, today announced the closing of a $25 Million Term Loan for Riccelli Enterprises, Inc. This senior loan facility refinances the company’s existing senior term debt and also provides additional working capital to fund the company’s growth.
“In successfully executing this refinancing and expansion of Riccelli’s credit facility, TerraNova’s Structured Finance Group has provided the Company with the funding necessary to support Riccelli’s continued growth, capitalizing on the relationship TerraNova has built over the past several years with Richard Riccelli Sr. and his team,” said Todd Coffin, Senior Managing Director of TerraNova.
“Our confidence in the ability of TerraNova to arrange attractive financing for us, based on the strong relationship we have built with their team over the past several years, was well rewarded,” says Richard Riccelli, Sr.
About TerraNova Structured Finance:
TerraNova Structured Finance is the debt advisory group of TerraNova Capital, a 20-year-old financial advisory firm focused on the small-to-middle market. TerraNova Capital is comprised of two divisions; TerraNova Capital Equities, Inc., the investment bank, provides financial and capital solutions to its clients, while TerraNova Capital Partners, Inc. focuses on merger and acquisition (M&A) advice and merchant banking.
About Riccelli Enterprises, Inc.:
Riccelli Enterprises, Inc., family-owned for over 50 years, is the preeminent trucking, hauling, and aggregates supply company in the Syracuse, NY region. Riccelli has seen continued growth across its business lines and is focused on continuing to serve and expand its blue-chip customer base.