Concord Financial Advisors placed a $8.2 million senior secured ABL facility and a $1.1 million second lien loan for a private equity sponsored manufacturer.

The company was recovering from events which had negatively impacted profitability, and needed to find new lenders. The private equity fund owner was familiar with the debt markets and had multiple existing relationships, but recognized the value of having an outsourced debt placement agent and engaged Concord to run the process.

Concord performed a situational analysis and prepared a detailed memorandum highlighting the successful ongoing turnaround, strong management and committed ownership. Concord was able to leverage its relationships with multiple nationally recognized, asset-based lenders and secure an aggressive structure for the company, including a $1.1 million second lien term loan with no covenants from one lender, coupled with an $8.2 million senior revolving line of credit from another lender. Concord closed the transaction within six weeks of going to market.