A Strong Relationship with This Business Owner Leads Us to Accommodate a Smaller Deal
This is an Indiana-based manufacturer of all aspects of commercial and industrial sheet metal installations. It’s been in operation for nearly fifty years.
The Company was recently purchased by a public company, the owner being someone we’ve worked with on two prior deals. This deal was for an Equipment Loan to pay off the note held by the prior owner.
To satisfy the need for operating money, we provided a $200,000 Equipment Loan. We came in side-by-side with a New York-based receivables lender that handles the progressive billing aspect of the financing package.
The owner of the public company purchases small, privately held companies that are doing well and have owners looking to exit. In our first deal together, we financed the acquisition of that company. In our second deal, as is the case with this sheet metal manufacturer, we financed equipment.
We normally don’t do deals this small but because we’ve done two prior deals and have a strong relationship with this owner, we accommodated this request. Interesting to note, the owner has already approached us with a fourth deal.
About Celtic Capital
Companies looking for working capital to cover operating expenses, fund growth, increase buying power and take advantage of vendor discounts and rebates turn to Celtic Capital. With an appetite for the more complex transactions, Celtic Capital has a history of success in crafting creative, flexible asset based financing solutions from $500,000 to $5 million with no financial covenants.
As an independent lender, working with companies nationwide, Celtic Capital is willing and able to alter price and deal structure and expand lines of credit to handle its clients’ increased revenues; and when cash flow is an issue, will look toward providing an inventory facility to help offset lost cash flow.