Since 1982, PetroChem Recovery Services has provided cost-effective, timely and environmentally conscious services to government agencies, large industrial companies, small business and residential clients. After more than 30 years of providing emergency response to chemical and petroleum spills and groundwater testing and remediation, the proprietor of the family-owned business began seeking retirement. Succession Capital Partners is a specialty-investment and advisory firm that focuses on and assists family-owned businesses looking for succession or to exit the business. Matt Malone, Managing Partner, got in contact with Loan Officer Dave Phillips at FNB Small Business Finance with the intent to purchase PetroChem Recovery Services, Inc and the company real estate.
Phillips assisted Mr. Malone in acquiring an SBA loan through FNB that not only allowed the original owner to retire, but also facilitated growth that included hiring much-needed staff to the company workforce. The purchase of PetroChem was not only a financial investment, but an investment in the community that has provided continued opportunity to the company’s employees.
Dave Phillips is the most professional and business oriented lender I have ever worked with in over 15 years in the Private Equity business. His understanding of what real business owners and operators have to deal with on a daily basis is rarely found from the majority lenders in the market today. The underwriting team was also very professional and diligent.
– Matt Malone, Managing Partner at Succession Capital Partners
Succession Capital will now look to Dave Phillips and FNB Small Business Finance for all acquisition financing needs in the future.
Contact DAVE PHILLIPS for more information on SBA funding for your business.
Office: 804.378.7501
Mobile: 804.513.7700
Fax: 804.823.2709
phillipsd@fnb-corp.com
