US Capital Partners Provides A/R Line to OSW Equipment & Repair
US Capital Partners provided a $1.4 million accounts receivable line of credit and machinery and equipment term loan for OSW Equipment & Repair.
“We approached US Capital Partners to retire an existing loan with Union Bank, which the bank had previously acquired from Frontier Bank, and to secure additional working capital to support our ongoing growth,” said Jay L. DeNoma, president and owner of OSW. “US Capital Partners, the lender of record on this new financing, renegotiated our existing debt and brought in two co-lenders to provide a well-structured, scalable facility for us. I would recommend US Capital Partners to anybody I know over traditional banking. The firm has the wiliness to look ‘outside the box’ to help companies like OSW meet the challenges of growing in today’s tough business environment.”
“We are delighted to have successfully refinanced this expanding Washington-based manufacturing and repair firm,” said Jeffrey Sweeney, CEO and Managing Director at US Capital Partners. “Acting on behalf of OSW, US Capital Partners successfully negotiated a favorable payoff with Union Bank. US Capital Partners then co-invested in a senior subordinated position to provide OSW with an overall loan facility of $1.4 million.”
Headquartered in Snohomish, WA, OSW manufactures and repairs products for the construction, transportation and mining industries. The company focuses on a variety of products from environmental goods to keep waterways clean to dump trucks, dump trailers, concrete container boxes, water tanks, flatbeds and jobsite offices. The company also sells and leases its equipment.