Baker Tilly Capital successfully provided corporate financial advisory services to Placon Corporation including financing support and the leveraging of $28 million in New Market Tax Credits. Baker Tilly Capital also provided insight and consultation into the negotiation of Placon's overall financing package that was used to facilitate the construction and implementation of Placon's new EcoStar Recycling Facility.
Placon Corporation has been a leading manufacturer of thermoformed packaging for over 45 years. Serving the medical, retail and food markets, the privately owned company offers custom-designed packaging, stock products, and raw materials. Placon's expansion and construction of its closed loop, state-of-the-art EcoStar recycling facility features capabilities that grinds and washes post-consumer bottles and thermoforms providing a unique product to its end-user customers.
"Baker Tilly Capital's investment banking and knowledge of federal and state resources and tax and financial programs was invaluable in helping us lower financing costs for Placon's new closed-loop recycling facility. Baker Tilly also mirrors Placon's own desire to be a responsible corporate citizen by specializing in the New Markets Tax Credit program which has a positive impact on community." – Lyle Meshberger, CFO, Placon Corporation