Celtic Capital formed a new client relationship with a California-based distributor and fabricator of sheet metal products and industrial supplies.
While the company can trace its roots back 100 years, it has been family-owned and operated since 1974. The company’s bank was seeking its exit after covenant violations and called Celtic Capital for help. Celtic Capital provided $3.2 million in accounts receivable and inventory lines of credit to repay the bank’s line of credit and for working capital.
Working together, the company and Celtic Capital overcame the logistical challenges of conducting due diligence during the COVID-19 pandemic.
