Daily News: February 14, 2019

Austin Financial Funds $5MM ABL Facility for Midwest Manufacturer


Austin Financial Services closed a $5 million senior secured credit facility for a private equity-owned full-service custom automation and manufacturing company that services the medical and life sciences, consumer goods and aerospace markets.

The firm recently acquired the company and was looking for a reliable lending partner with the ability to structure a customized and flexible financing solution, as well as the capacity to close in a limited timeframe.

“AFS has proven again that our relationship based approach continues to differentiate us in the marketplace,” said Jason Anish, Austin president and CEO. “Our people and product offering allow us to remain competitive and respond quickly to meet our client’s needs.”

Funds from the AFS line of credit were used to refinance existing debt, for ongoing working capital, and to fulfill the company’s strong backlog of orders.

Established in 1980, Austin Financial Services is a privately held non-bank middle-market lender that provides alternative funding to small and medium sized businesses.