Avidbank Specialty Finance provided an accounts receivable line of credit and a senior term loan to Calyx Capital Partners.
The funding will be used to support an acquisition and to provide working capital for the business post-close.
“Calyx Capital Partners is a perfect fit for our specialty finance business model,” said Larry LaCroix, executive vice president and head of Avidbank’s Specialty Finance division. “We are able to support Calyx Capital as they help build sustained growth for their newly acquired business.”
“Avidbank was competitive, responsive, and flexible during the negotiation and closing process to be able to get the deal over the finish line,” said Jessica Markowitz, Calyx co-founder and principal.
Calyx Capital Partners is an entrepreneurial investment firm formed to acquire and manage a single privately-held business. The Calyx team is comprised of experienced entrepreneurs, operators, and investors with a dedicated focus on creating long-term value through hands-on active management.
Headquartered in San Jose, CA, Avidbank specializes in commercial and industrial lending, technology and asset-based lending, sponsor finance, real estate construction and commercial real estate lending.
