Daily News: May 16, 2013

US Capital Closes More Than $100MM in Financings


US Capital Partners announced that it recently closed eight transactions totaling $103.25 million. The deals consisted of:

  • a $10 million M&E term for Wyoming-based provider of oilfield services seeks working capital;

  • a $4 million facility that consists of a $2 million A/R facility and a $2 million term loan for a Pennsylvania holding company seeking leveraged buyout of commercial landscape company;

  • a $20 million term loan for a Massachusetts-based IT staffing company seeking acquisition capital;

  • a $750,000 inventory facility for a Connecticut-based golf ball recycling company seeking growth capital;

  • a $58 million facility that consists of a $23 million line of credit and a $35 million term loan for an India-based telecom products manufacturer;

  • a $7.5 million facility that consists of $2.5 million A/R facility and a $5 million term loan for a US Subsidiary of an Italian designer and installer of specialized equipment for the oil & gas industry;

  • a $1.75 million facility comprised of a $1 million A/R facility and a $750,000 term loan for a Californian entertainment market research company; and

  • a $1.25 million M&E term for a UK-based maker of x-ray and gamma ray detectors.