CapX Partners Provides Acumentrics Term Loan
CapX Partners closed on a $3 million senior term loan to Acumentrics to support the company’s growth needs.
Acumentrics turned to the debt markets to strengthen its balance sheet and improve its capital structure. CapX provided a $3 million senior term loan that refinanced the company’s existing debt and provided additional growth capital. The new facility positions the company to exploit significant growth opportunities on both sides of its business.
“CapX Partners really delivered for Acumentrics, with a term loan that required a deep understanding of the two quite different business lines of the Company. They did very thorough homework on us, worked with us to fit the credit to the Company, were clear on their parameters and were able to deliver what they promised. They have been a pleasure to deal with” says John Cerulli, CFO, Acumentrics.
“CEO Gary Simon and his team, along with the support of lead investor SourceSquared, have established two attractive niche businesses. We have enjoyed working with John Cerulli, CFO, and James Wilson at SourceSquared to provide growth financing for these exciting businesses, and we look forward to an expanding relationship in the future,” says Stephen Healey, managing director, CapX Partners.
Westwood, MA-based Acumentrics is a provider of AC and DC uninterruptible power supplies for military and industrial power conditioning, backup power supplies, and other mission-critical applications.
Acumentrics RUPS is a preferred supplier of US-made power electronics to prime defense contractors. Acumentrics SOFC is its solid oxide fuel cell subsidiary.