ATC Managers closed a $54.75 million fixed-rate business acquisition and term loan. This deal facilitates the purchase of a division from a manufacturing company located 37 miles north of Downtown Cleveland, Ohio, while also refinancing a portion of its existing equity and term debt.
This achievement is particularly notable as it marks the inaugural transaction under ATC Managers’ new online business model. The loan was approved and closed in 28 days, meeting the seller’s critical timeline. The loan structure includes an initial three-year term with the option for two additional one-year extensions, given the client meets certain performance conditions.
“ATC Managers has established itself as a leader in the lending industry over the past three years,” Vanmatre Wilbur, CEO of ATC Managers, said. “We are delighted to welcome this new client to our firm. Our team continues to actively originate loans across all of our loan programs, and we will remain focused on providing high net worth clients with customized and flexible financing solutions.”
