Legacy Corporate Lending, an independent asset-based lending company focused on serving the needs of middle market companies across North America, provided a $25 million asset-based credit facility to American Technologies, doing business as 888VoIP, a value-added reseller and distributor of telecommunications products and services, including VoIP phones, headsets, video conferencing systems, networking equipment and related accessories.
“While the needs of businesses evolve, 888VoIP has established itself as a best-in-class distributor that facilitates communications infrastructure for small and medium-sized businesses,” Clark Griffith, CEO of Legacy, said. “We are excited to welcome the company into our portfolio as we continue to expand our relationships with technology service providers.”
“As we continue to generate high demand for our services, we saw an opportunity to unlock additional liquidity from our working capital,” Shawn Claybolt, CEO of 888VoIP, said. “The Legacy team understood the nuances and goals of our business and was able to provide creative financing that helps us achieve our ambitious growth projections. We look forward to a lasting relationship with them.”
“Forging a long-term partnership with 888VoIP is emblematic of our business strategy to support strong companies and experienced management teams,” David Smith, managing director at Legacy, said. “Our deep sector expertise has allowed us to develop a bespoke, flexible financing solution which empowers the company to continue to expand and evolve.”
