Daily News: March 14, 2019

AEC Provides $1.5MM Factoring Line to Pristine Property

Advanced Energy Capital (AEC) provided a $1.5 million factoring line to Pristine Property Management to enhance their working capital position.

Pristine Property Maintenance is a mid-size company that has years of experience providing grounds-keeping and landscape maintenance services throughout the greater Toronto area. Their focus and expertise lies largely in the grounds and snow and ice maintenance for condominium townhomes and municipal properties.

The facility was completed and funded on January 17, 2019 and provided significant working capital over and above Pristine’s incumbent lender’s line of credit.

“As a company that invoices in advance of our service and under long term contracts, we needed a capital provider who was comfortable with our operating history to structure a working capital facility that provides us the ongoing capital to propel PPM to the next level,” said Adam Watson, CEO of Pristine.

“Adam’s cooperation, history of corporate success and blueprint for long term growth made our job easy in closing and funding this cross-border transaction” said Richard Rudy, principal at AEC.

“We look forward to a long-term relationship with Adam and PPM as they continue to execute on their business plan,” added Steven Feldman, AEC managing director.