Casual producer Tropitone nails down refinancing
By Furniture Today Staff -- Furniture Today, December 16, 2001
IRVINE, Calif. — Casual furniture producer Tropitone has closed on a $29.6 million refinancing with Fleet Capital and Catalyst Equity Partners. "With the additional financing, Tropitone will invest in new product development and increased automation and productivity in our manufacturing process," said Michael Echolds, chief executive officer. "We also will expand the operations of the recently acquired Sun West Creations, a leading manufacturer of high-quality, solid-urethane tabletops."
Tropitone acquired Sun West in August. Echolds said that Tropitone's success in securing this funding, particularly in the current economic environment, represents a strong vote of confidence in the company from its banking partners.
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