Daily News: November 24, 2014

Gibraltar Closes Recent ABL, Factoring Deals

Gibraltar recently closed several recent ABL and factoring deals, including:

  • a $6 million asset-based revolving line of credit to accelerate an operational turnaround executed by a private equity group that purchased a New York-based media company that owns a weekly magazine providing television programming listings and entertainment news
  • a $1.7 million asset-based revolving line of credit for a St. Louis-based manufacturer of regional BBQ sauce whose current lender was going through an ownership transition; the company needed a new financial partner to facilitate brand and geographic expansion
  • a $1.5 million factoring line of credit to help an Arizona-based fiberoptic engineering company obtain more liquidity than its current lender was willing to provide
  • $500,000 factoring line of credit helped a California startup develop/distribute an electrolyte replacement and hydration drink; after successfully placing the product in the retail channel, the company needed liquidity to acquire more inventory for future sales