Commercial Finance Partners (CFP) closed a $16.3 million financing package for a third-party logistics provider. The facility included a $6.3 million conventional term loan and a $10 million AR financing facility through CFP’s strategic partner, Sallyport Commercial Finance.
This transaction spanned over a year and required a wide range of services from CFP, including:
- Sourcing the appropriate capital providers
- Coordinating with the incumbent bank exiting the relationship
- Engaging a turnaround advisory firm for negotiations
- Managing appraisals and field exams
- Overseeing lender selection, negotiation and intercreditor agreements
- Facilitating funding through closing
Additionally, CFP leveraged BDO, an accounting and advisory firm engaged as financial advisor to the company, to assist with negotiations.
“Financing this client is a testament to why businesses gain such a significant advantage when working with CFP,” Marcus Ferrari, CEO of Commercial Finance Partners, said. “Given the financial position of the company, we had to leverage our full suite of resources, divisions, and strategic partners to deliver a solution that ultimately saved a multi-generational family business.”
“I have worked with CFP for many years and am always impressed by its ability to bring creative strategies to complex, multi-stakeholder transactions,” Nick Welch, managing director, turnaround and restructuring at BDO Consulting Group, said. “Along with its dedication to execute and cross the finish line, CFP is extremely collaborative and outcomes focused. In this case, our teams worked together seamlessly to support the delivery of a financing structure which preserved the client’s business.”
