Daily News: April 30, 2013

US Capital Provides Multi-Tranche Facility to LEI

US Capital Partners provided a $1 million bridge financing round for Laser Engineering (LEI), headquartered in Franklin, TN, followed by a $5 million accounts receivable line of credit.

“We are delighted to have secured this new, expansive financing,” said Lou Wallace, president at LEI. “Over the last twenty-five years, we have continued advancing our laser technology and expanding our business. We approached US Capital Partners to place a scalable accounts receivable line of credit to increase manufacturing capacity and production of our new product line.”

“We are extremely pleased to have provided this scalable credit facility for LEI,” said Jeffrey Sweeney, CEO and managing director at US Capital Partners. “Based on rising market demand for LEI’s newly released FDA-approved product, the company recognized the need to increase working capital to meet increased customer orders. US Capital Partners was able to provide the initial bridge financing LEI required to support its current and future working capital needs as the company continues to scale.”

LEI designs, manufactures, sells and services the LEI Ultra MD CO2 laser system and a complete line of accessories for multi-specialty use in neurosurgery, spinal surgery, ENT, gynecology, urology and other disciplines.