BMO Harris, Others Increase HighTower Facility
HighTower increased its $100 million revolver to $150 million. The facility now provides HighTower access to up to $150 million in financing from original lenders BMO Harris Bank and PNC Bank who are now joined by SunTrust Bank.
“HighTower’s growth and momentum reflects the once-in-a-lifetime secular shift in the financial services industry,” said Elliot Weissbluth, CEO, HighTower. “In a post-credit crisis world, securing this kind of credit means that the company must demonstrate strong and sustainable financial health coupled with the ability to thoughtfully deploy the capital and grow profitably.”
In 2014, Inc. named HighTower to its list of the fastest growing private companies for the third consecutive year, an honor only approximately 200 companies enjoy.
“This increased financing by three of the nation’s leading banks reflects the strength of our business model and financial sustainability,” said Larry Koehler, HighTower CFO. “It also reinforces the confidence in our unique business model and vision for the future.”
HighTower is a financial services firm offering a unique platform that blends objective wealth management advice with innovative technology.