Gibraltar Finances Two PE-Backed Deals
Gibraltar Finances announced two recent $3 million private equity-backed deals.
In the midst of turnaround, a private equity group-backed California distributor of emergency- and disaster-related products and equipment, including glow sticks, flashlights and lanterns, needed fresh working capital to replace its existing factoring facility. Collaborating with sponsor Highland Capital Partners, Gibraltar provided a $3 million asset-based line of credit to give the company the liquidity needs to succeed.
Backed by private equity group Cyprium Investment Partners, a New York-based manufacturer of prepared foods for major national food chains had been operating without a line of credit. Experiencing strong growth, the producer needed fast access to additional working capital to fulfill new customer contracts. Gibraltar created a $3 million asset-based line of credit to boost momentum for this progressive, private equity group-backed business.
In addition, last month Gibraltar secured factoring lines of credit to expand working capital for two diverse businesses: $3.5 million to a publicly traded media applications and digital signage company out of Texas, and $200,000 to assist a North Carolina-based commercial fiber optic cable installer.