- TransPerfect Announces New $500 Million Credit Facility
- Loeb Ensures Forward Momentum for a Transportation Mechanic Training Company With a $2 Million Loan
- J D Factors Provided $8,725,000 in new Factoring Facilities to 30 new Clients in March
- Paragon 28 Announces New $150 Million Credit Facility Replacing Existing $90 Million Credit Facility
- Unifrax Obtains Committed Debt Financing from J.P. Morgan Led Consortium to Support Clearlake Capital-Backed Acquisition of Lydall, Inc.
SG Credit Partners Provides $4.0 Million to Midwestern Mechanical Contractor
January 29, 2020
Source: SG Credit Partners
The Company: Full-service mechanical contractor located in the Midwest that provides HVAC, plumbing/piping, and other mechanical services to the commercial and industrial/manufacturing sectors. Revenue: $90 MM | EBITDA: $5 MM.
The Financing Situation: The Company recently raised capital from a private equity sponsor that has invested in several construction services businesses. The new ownership group wanted to refinance its existing credit facility, but traditional bank financing was not an option as the Company typically acts as a subcontractor on construction projects that are primarily on paid-when-paid contracts. The ownership group also wanted a financing partner that could grow with the business.
The Solution: SG Credit Partners teamed up with CapitalPlus Construction Services to provide a $13.0 MM structured factoring facility based on the Company’s strong ownership group, diversified customer base, and leverage profile.
For more information on CapitalPlus Construction Services, please contact:
Scott Applegate
President
applegate@capitalplus.com
865.670.2345
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