Paperboard maker Ox Industries lands $63M to refinance debt
What's the deal? Ox Industries has secured a $63 million split-lien debt package to refinance its existing borrowings and add liquidity. The financing combines a $30 million asset-based revolving credit facility from PNC Business CreditDealroom has a profile for this one. Try Dealroom →, secured by receivables and inventory, and a $33 million term loan from Post Road Equipment FinanceDealroom has a profile for this one. Try Dealroom →, secured by machinery and equipment. SSG Capital AdvisorsDealroom has a profile for this one. Try Dealroom → served as investment banker, and the deal closed in October 2026.
Who's raising? Ox Industries is a privately owned, vertically integrated producer of uncoated recycled paperboard, paper tubes and cores, and specialty packaging. Its 10 facilities produce more than 200,000 tons a year for blue-chip customers.
Why now? The company faced the upcoming maturity of its existing credit facilities. It sought to refinance, simplify its capital structure, and unlock incremental liquidity before that deadline.
What's the endgame? The package retired the existing senior credit facility, addressed outstanding seller financing, and ran alongside a sale-leaseback of a corporate facility. SSG said the combined facilities "maximized Ox's borrowing capacity while providing the flexibility needed to support its long-term growth strategy."
The signal: The deal lands amid heavy financing and restructuring activity across the packaging sector, where producers face margin pressure from higher input costs and uneven demand. A tailored split-lien structure — blending asset-based, equipment, and real estate financing — shows how mid-sized manufacturers are stitching together capital to manage maturities rather than chase expansion.
Read more: sfnet.com
Image credit: Orin Zebest
