MidWest Nonwovens, LLC is a start-up entity formed to acquire manufacturing assets and produce thermally bonded highloft polyester nonwovens. The company’s product is sold to manufacturers of furniture, mattresses, foam products, bedspreads and other home furnishings as well as jackets and apparel. R.L. Hulett & Company arranged for approximately $3.5 million in start-up financing for the entity despite a difficult credit environment where lending has tightened dramatically.
R.L. Hulett & Company helped the owners develop a business plan and financial projections and then negotiated with numerous financial institutions to obtain the best terms available for the company. The firm also helped the Midwest Nonwovens executives negotiate the asset purchase agreement to acquire the manufacturing equipment.