Daily News: March 22, 2013

Graystone Provides Acquisition Financing to Distributor

Graystone Capital, via its asset-based lending arm, announced the issuance of a $3.6 million revolving line of credit to a CA-based distribution company. The proceeds were used to facilitate the leveraged buy-out of the fifty year old company.

Graystone said it was able to extend this credit facility based on the strength of their customer base, superior operations, longevity as an industry leader and its reputable management team.

Kevin O’Hare, CEO of Graystone Capital remarked “Our ability to get comfortable with the proper collateral monitoring requirements enabled us to extend a flexible credit facility that assisted in the acquisition of this venerable business.”