Daily News: February 25, 2013

Cole Taylor Funds Two Transactions Totaling $13.9MM


Cole Taylor Business Capital recently closed two transactions totaling $13.9 million.

Cole Taylor said it funded an $8 million facility for Team Express Distributing, a San Antonio, TX-based company that is a retailer of sporting goods, athletic equipment, footwear and apparel.

The firm, which markets its product line through its San Antonio retail store, online store and catalogs, also markets directly to amateur sports teams. Proceeds of the facility were used to refinance existing debt and fund ongoing working capital.

Separately, Cole Taylor announced the funding of a $5.9 million facility for Western Shelter Systems. Proceeds of the facility are being used to support the acquisition of assets by Gorge Holdings and to fund ongoing working capital.

Eugene, OR-based Western Shelter Systems manufactures and distributes reusable temporary shelters and accessories, firefighting apparel, mobility systems and equipment for emergency, commercial and military field operations.

Western Shelter Systems is a portfolio company of Gorge Holdings, a Portland, OR-based private equity firm.

Cole Taylor Business Capital is the asset-based lending division of Cole Taylor Bank, which seeks asset-based lending opportunities in the $5 million to $5 million range.