Daily News: April 23, 2015

Gibraltar Announces Three Recent Deals

Gibraltar Business Capital announced three recent deals.

A California-based provider of embedded wireless modules and antennas was going through an ownership change and needed alternative capital to buy out a founder as well as fund future growth. Gibraltar was able to set up a $2 million asset-based line of credit for the emerging company, whose wireless modules integrate with end users’ technology to track business machines’ performance, health and location. The wireless communications solutions supplier is now better positioned to market its productivity products.

A Georgia-based physician-staffing client needed a capital solution that would allow for more flexibility and growth opportunities. Gibraltar helped mitigate the company’s cash-flow issues by refinancing its existing factoring facility with a new $2 million a line of credit.

A Florida-based business supplying deck flooring to large cruise ships was experiencing strong growth and needed working capital to support mounting sales. Gibraltar was able to secure a $500,000 factoring facility to help give the decking provider a stronger foundation going forward.