Daily News: May 21, 2014

FGI Announces Three Recent Transactions

FGI announced three recent transactions completed by FGI’s three groups with AND Group, Sam Salem and Son, and Triton.

FGI Finance provided the funding to complete a management buyout of AND Group, a provider of global satellite services, and simultaneous merger with Satcom. FGI established a credit facility to fund the growth of the newly formed entity, Broadband Satellite Services, leveraging both domestic and international receivables.

FGI Risk obtained a credit insurance policy for Sam Salem and Son, a New York-based linen manufacturer, at a lower price than the company’s previous plan, with more coverage and a lower deductible.

FGI Capital secured an asset-based credit facility that allowed Triton, a manufacturer of ATMs and ATM management software, to pay off its existing lender and provide working capital needed for continued growth.