SUPERIOR, Colo. – June 9, 2020 – Key Equipment Finance, a division of KeyBank and one of the largest bank-based equipment finance providers in the U.S., announced it has provided $10 million in equipment financing to Traxys Processing Inc. for its new processing facility in Burnsville, Mississippi. Traxys Processing (a subsidiary of the Traxys Group) used the financing to acquire grinding mills, roll presses and packaging systems for the production of alloy agents for the molten metal treatment of aluminum and steel.
“Equipment is a vital component of the new Traxys Processing facility, and equipment financing enabled the company to quickly scale up production,” said Jay Archambeault, senior vice president and director, Key Equipment Finance. “Interim financing and a term loan facility enabled the company to deploy the latest in automated and specialized alloy hardener manufacturing equipment.”
The new facility is located at the Yellow Creek Port with proximity to rail and barge transportation lines providing access to global markets.
“Traxys has a strong relationship with Key, which offered both broad financing capabilities and knowledge of the metals industry,” said Todd Hermanson, Traxys Group CFO. “This enabled us to efficiently finance all of the production equipment needed for this new facility.”
Ryan Campbell, Traxys senior vice president, added, “Key Equipment Finance has been a great partner to work with and we hope to expand our relationship with their team in the future.”
About Key Equipment Finance
Key Equipment Finance, a division of KeyBank, has been in the equipment, software and services finance business for 47 years and is one of the largest bank-owned equipment finance providers in the U.S. The company provides tailored equipment lease and finance solutions for commercial clients and government entities, manufacturers, distributors, resellers and, through Specialty Finance Lending, a business unit of KeyBank, provides structured facilities across various sectors of the specialty finance market. Additionally, Key Equipment Finance’s Capital Markets team utilizes its syndication capabilities to structure large, multi-bank transactions. With headquarters outside Denver, Colorado, Key Equipment Finance manages approximately $13 billion in assets and originates nearly $5 billion of equipment financing annually. For more information, visit keyequipmentfinance.com.
About Traxys
Traxys is a client focused physical commodities merchant that provides effective market access and solves complex supply chain, distribution and financing challenges for a wide range of clients on a cooperative and transparent basis across a diverse array of metals and minerals. Its sourcing, logistics, marketing, distribution, financing, supply chain management and trading activities are conducted by over 450 employees, in over 20 offices worldwide, and its annual turnover exceeds US$6 billion. Headquartered in Luxembourg and New York, Traxys handles over 60 types of non-ferrous metals, ferro-alloys, minerals, industrial raw materials and energy products. The Group serves a broad base of industrial customers and offers a full range of commercial, logistical and multi-tiered financial services and solutions. Traxys, a privately held company, is owned by The Carlyle Group (NASDAQ: CG), affiliates of Louis M. Bacon, the founder of Moore Capital Management, LP and Moore Strategic Ventures, LLC, Mr. Bacon’s privately held investment company, and Traxys’ management team. To learn more about Traxys, go to: www.traxys.com.
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