The new financing package, arranged through Wells Fargo Bank and Fulton Bank, raises the company’s total borrowing capacity from $92 million to $130 million. This structure includes an $80 million revolving credit line supplemented by a $50 million accordion feature. By pushing the maturity date to August 2031, the company gains a longer runway to navigate market fluctuations while utilizing a more flexible covenant framework.
Burnham Holdings Secures $130 Million Credit Line for Expansion
Lancaster-based manufacturer Burnham Holdings has overhauled its capital structure, securing a five-year revolving credit facility worth $130 million. The deal, finalized on August 6, replaces the company's previous debt arrangement and provides significant liquidity to fuel future acquisitions and operational investments across its domestic HVAC portfolio.
Chief Financial Officer Nick Ribich stated that the agreement signals strong banking confidence in the firm’s long-term strategy. The facility carries interest rates pegged to the Secured Overnight Financing Rate, with the company retaining the right to repay borrowings at any time. Ernst & Young’s Debt Capital Markets Group managed the competitive selection process, while legal counsel was provided by McNees Wallace and Nurick LLC.
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