FGI provided a $21.3 million revolving credit facility and a $3.7 million term loan for Advanced Lighting Technologies, a designer, manufacturer and marketer of energy efficient commercial lighting products, components and systems. In addition to lighting products, Advanced Lighting Technologies is also a producer of engineered materials, including specialty chemicals, precision glass optics, and thin film coatings, operating under two primary business units: lighting and materials.
“We could not be more impressed with the work that FGI has done for us,” Sabu Krishnan, CEO and president of Advanced Lighting Technologies, said. “Not only were they able to navigate the complexities of multijurisdictional finance but were able to do so with creativity and complete flexibility. It was remarkable how adaptable FGI was when asked to operate in all the different entities we required. Their success has made us even more excited about the future, and we can’t wait to grow now that our groundwork has been laid.”
Through a series of sales and restructurings, Advanced Lighting Technologies recently underwent a recapitalization. Shortly after, it was picked up by Gallant International, whose focus is also on the production of sustainable goods. However, as Advanced Lighting Technologies was comprised of a large number of entities spread across four continents, challenges arose when looking to finance the group as a whole.
FGI closed the financing, covering five entities in the U.S., the UK and Germany. FGI created additional availability for Advanced Lighting Technologies by structuring a term loan against its U.S. property. FGI’s financing was coupled with an additional cash equity infusion from a New York-based investment company, and Gallant International has now officially been absorbed as part of Advanced Lighting Technologies’ family of companies.
