Siena Lending Group LLC (“Siena”) announces the completion of a $10 million revolving credit facility for Standardized Sanitation Systems, Inc. (“SSS”). The facility is being used to refinance the company's existing debt, fund future acquisitions and support the company’s growth and working capital needs. Peapack-Gladstone Bank is participating with Siena in the transaction.

Headquartered in Billerica, MA, SSS operates as a mid-channel industrial/commercial facility cleaning and maintenance networking organization. The company has become a highly competitive, national sales, marketing, logistics and training organization serving a customer base consisting of 120 member-owners of janitorial/sanitation distribution companies. Indirectly, SSS serves education, healthcare, building service contractors as well as local, state and federal government clients through its member-owner customer base. The fairly newly created subsidiary, T-S Holdings, Inc., is the company’s acquisition arm that allows the company to maintain market share as Member-Owners look to exit their privately held businesses.

Stephen Fuscaldo, Director of Siena, said, “Siena is pleased to provide a working capital facility for SSS that allows the company to focus on driving its growth with a flexible structure and covenant package.”

Alan Sadler, CEO of SSS, said, “Siena’s credit facility allows the company to continue to implement its acquisition strategy by way of T-S Holdings, Inc. and meet its growth targets without worrying about managing the business to certain financial covenants. Siena understood the business from the beginning and properly valued our well-developed assets in a way that traditional banks were not able to.”