As every sector contends with tech-enabled disruption, Mark Solovy discusses the three strategies — buy, build or sell to private equity — that companies can use to acquire new technology at a reasonable cost.
In the face of continuing bank regulation, alternative lending companies are launching to fill in the gaps. ABF Journal contributor Hugh Larratt-Smith examines the types of loans these lenders are providing and shows how ABL lenders can benefit by teaming up with these new players.
Since 1974, the Wolverine Tube factory cranked out copper tubing for industry and construction use from its Shawnee, OK plant. Last year, the Canadian owners decided to sell the factory, threatening more than 500 Shawnee jobs. Greg Gallman, the plant’s general manager, worked with local investors and bankers, the city’s Economic Redevelopment Foundation and MB Business Capital to save the business and renamed it Shawnee Tubing Solutions.
When Blue Hills Bank, a 140-year old community bank, decided to start an ABL division, it offered veteran ABL lenders Keith Broyles and Yvonne Kizner the opportunity to build the new division from scratch. The pair jumped at the chance. They spoke with ABF Journal Editor Nadine Bonner and shared their optimism and excitement about this new venture.