“In that moment you want to call someone you can trust, to help you trade up the position you’re in. That’s when I called Webster.”
– John McQuillian, Triumvirate Environmental
Triumvirate Environmental is a leading provider of enterprise waste management and environmental services for healthcare, life services, education and industrial markets, with over 25 locations throughout the U.S. and Canada. After growing steadily for 20 years, CEO John McQuillian found himself in a tenuous situation. Several critical deals to expand to New England, Maryland and Florida, plus add a new corporate headquarters in Boston were in place but suddenly their bank announced they would no longer honor any of their commitments. All of Triumvirate’s deals were at risk.
John needed a new bank and quickly. He knew of Webster Bank’s reputation for industry specialists and customer-first financing and immediately made a call.
The Webster banker aligned with John was well-versed in environmental services and familiar with Triumvirate’s strong track record. Plus at Webster, there is no “loan committee” to slow down the process – local decision-makers are empowered to design solutions tailored to each customer’s needs. This allowed the Webster banker and her team to:
- Deliver a commitment letter within one week of meeting with Triumvirate.
- Secure commercial real estate financing to purchase the land for the new Boston HQ.
- Close all four deals within 30 days with term financing, honoring all the terms of the original financing agreement
- Provide working capital to acquire and transition new customers from the newly owned companies.
- Seamlessly transition the rest of Triumvirate’s business to Webster within 60 days.
That partnership with Webster turned into a pivotal moment for Triumvirate Environmental and since then, Triumvirate has:
- Doubled its business within one year of closing their new acquisitions.
- Continued to secure necessary financing commitments from Webster.
- Further expanded their operations into Pennsylvania, North Carolina and Atlanta.