Cooley Group Secures $25 Million in New Financing From Webster Business Credit Corporation

PAWTUCKET, R.I. and NEW YORK, Aug. 13, 2012 /PRNewswire/ -- Cooley Group and Webster Business Credit Corp. (WBCC), a division of Webster Bank, today announced that WBCC is providing Cooley with $25 million in new financing. The five-year financing package includes a combination of a revolving credit facility, a long-term note, and a capital expenditure line and will be used to further support Cooley's continued global expansion. More specific financial terms were not disclosed.

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Cooley, a leading designer, developer and manufacturer of high-performance, sustainable, engineered membranes for some of the world's highest-profile advertising, chemical containment, military, environmental protection and roofing initiatives, will use the new financing to expand both its North American and international operations, including further expansion into Brazil, China and India. Cooley currently markets and distributes its chemistry-based solutions in over 20 countries on six continents.

"With an 85-year history of innovation, Cooley is an industry leader in the high-performance engineered membrane markets," said Warren Mino, president of WBCC. "We are pleased to provide Cooley with the financial support needed to continue building a world-class company."

"We are grateful for WBCC's commitment to the growth of the Cooley Group," said Daniel Dwight, Cooley President and Chief Executive Officer. "The combination of improved cash flow from more competitive interest rates, extended amortization schedule on the long-term debt and the addition of a capital expenditure line will provide Cooley with the additional financial resources necessary to expand our global production capacity and marketing and distribution reach."

About Webster
Webster Financial Corporation is the holding company for Webster Bank, National Association. With $19 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust and investment services through 167 banking offices, 464 ATMs, 290 of which are owned by Webster and 174 of which are branded, telephone banking, mobile banking, and the Internet. Webster Bank owns the asset based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance Corporation; and provides health savings account trustee and administrative services through HSA Bank, a division of Webster Bank. Member FDIC and equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.

About Cooley Group
Founded in 1926, Cooley Group designs, develops and manufactures high-performance, sustainable engineered membranes used in applications including some of the world's most notable outdoor advertising, water, fuel and chemical containment, military and commercial roofing initiatives. Headquartered in Pawtucket, Rhode Island, and with multiple manufacturing facilities across the United States, Cooley Group markets and distributes its products worldwide and also works with multi-national partners to develop proprietary products and solutions. More information about Cooley Group can be found at www.cooleygroup.com.

SOURCE Cooley Group