CHICAGO — July 16, 2020 — C&L Tiling, Inc., a leading manufacturer of plastic pipe and tile drainage solutions for agricultural and commercial customers, recently completed a debt refinancing with Peoples Bank & Trust. Sikich Investment Banking served as the exclusive investment banker to C&L Tiling.
“C&L Tiling management has successfully led the company through multiple cycles, and its recapitalized balance sheet will allow management to pursue some of the pent-up demand in its marketplace,” said Thomas Davenport, director at Sikich Investment Banking and leader of the group’s capital advisory and special situations team.
Sikich Investment Banking offers capital markets advisory and mergers and acquisitions services. The team has deep experience across many industries, particularly manufacturing and distribution, technology, health care and life sciences, and business and professional services.
“Sikich’s advice and capital raising process was pivotal in making this deal happen. We chose Sikich because we trust them, and we knew that they would put our interests first in trying to get this incredibly important deal done,” said Don Colclasure, founder and CEO of C&L Tiling.
C&L Tiling is headquartered in Timewell, Illinois, with facilities in eight states across the Midwest and southeastern United States. Peoples Bank & Trust is based in Springfield, Illinois.
“Our team of experts is well-equipped to help businesses like C&L Tiling carefully and comprehensively consider their strategic options for capital placement, refinance, or acquisition. It was a pleasure assisting the C&L team in this effort,” said Rick Herbst, partner-in-charge of Sikich Investment Banking.
Transaction terms were not disclosed.
About Sikich LLP
Sikich LLP is a global company specializing in technology-enabled professional services. With more than 1,000 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies and ranks as one of the largest CPA firms in the United States. From corporations and not-for-profits to state and local governments, Sikich clients utilize a broad spectrum of services* and products to help them improve performance and achieve long-term, strategic goals.
*Securities offered through Sikich Corporate Finance LLC, member FINRA/SIPC. Investment advisory services offered through Sikich Financial, an SEC Registered Investment Advisor.