Amerisource Business Capital closed and funded a $4 million credit facility for a manufacturer of lift and power management systems in Texas. The proceeds were used to refinance existing bank debt and to provide additional growth capital.
“We are very excited to welcome this company as an Amerisource client,” Allison Billings, regional market manager for Amerisource, said. “The management team has a ton of experience in this industry, and they were a pleasure to work with throughout the process.”
“The private equity group backing this company is a leader in the power management space and we are looking forward to our continued partnership with them,” Bill Herrington, executive vice president of Amerisource, said.
Founded in 1984, Amerisource is a direct lender to businesses throughout the United States with borrowing needs up to $20 million. The company has provided more than $8 billion in capital to borrowers and clients through both its asset-based lending arm (Amerisource Business Capital) and A/R financing arm (Amerisource Funding).