Daily News: January 21, 2014

Essex Arranges Debt Facility for BookIt.com

Essex Capital Group announced the closing of a $10 million term debt facility for BookIt.com.

The new debt facility will enable the company to fund working capital and support growth opportunities and expansion, including further technology investment. The deal was funded by a public specialty finance firm.

Tom DiBacco, VP of business and finance, commented, “BookIt.com has been operating for about 10 years without taking on outside capital. We’re excited to have secured funding needed to open up additional opportunities and continue our strong growth trajectory. I’d like to thank Essex Capital, as their wealth of knowledge and connections in the small to midsize debt markets proved invaluable for us. Bob and Rob know how to get a deal done.”

Essex Capital acted as exclusive advisor in this transaction.

Panama City Beach, FL-based BookIt.com is a privately held online travel agency.