Washington Trust's Commercial Lending Group recently provided financing to Rhode Island Ready Mix, LLC/Richmond Sand & Stone, LLC, of Richmond, R.I. to acquire the assets of the former Richmond Sand & Gravel and Richmond Ready Mix operations, which include 241 acres of real estate in Wyoming, R.I., plus the inventory, rolling stock, machinery & equipment, and trade names.
Rhode Island Ready Mix and Richmond Sand & Stone are owned by Michael D'Ambra, president of D'Ambra Construction.
"It's a pleasure to work with Mr. D'Ambra again," said Joseph J. MarcAurele, Washington Trust president and chief operating officer. "We wish him much success with his new companies."
Washington Trust's Commercial Lending Group offers a full menu of credit and cash management products. For more information, contact Russell W. Hahn, senior vice president, Commercial Lending Group, at 401-654-4841.
The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., a $2.8 billion corporation headquartered in Westerly, Rhode Island. Founded in 1800, Washington Trust is the oldest community bank in the nation and is the largest independent bank headquartered in Rhode Island. A state-chartered bank, Washington Trust offers a full range of financial services, including business banking , personal banking , and wealth management and trust services through its offices located in Rhode Island, Southeastern Connecticut and Massachusetts. The Corporation's common stock trades on The NASDAQ Global Select® Stock Market under the symbol WASH. Web site address: www.washtrust.com.