Culain Capital Funding, a specialty finance firm focusing on funding solutions for small and medium sized business in the United States, closed a $3 million accounts receivable factoring facility along with a $1.5 million acquisition term note for a manufacturing company specializing in custom steel bar and bolting products.
Culain Capital was well positioned and motivated to assist in providing the buyer and CEO with the funding necessary to complete the acquisition. The CEO’s objective was to leverage the existing business assets to facilitate his acquisition of the company. The CEO of the acquiring company has worked in the industry for quite some time along with being close to the company being acquired. Culain Capital anticipates that with the addition of the new CEO and the factoring facility provided by Culain, the new company now has the essential operational support they need to grow and continue as a highly successful company.
“We became very comfortable the client from the first time we spoke with him,” Jamie Franz, president at Culain Capital, said. “He and his partner have a lot of experience in the industry along with connections with most of the customers that the company would be working with. Along with the confidence Culain Capital has with the client, the customers are very strong and their growth plan is extremely achievable.”
