PrimeArc Capital’s group of managers, led by Bud Crawford, CEO, and David Ebinger, COO, completed a management buyout of the company in an all cash transaction. In addition, Crawford and Ebinger founded Coeur Capital. Coeur Capital was set up to purchase the assets of PrimeArc, and the company will do business as Coeur Capital moving forward. To help finance the acquisition and ongoing business operations, Coeur Capital partnered with Truist Financial. Since 2016, PrimeArc has grown revenue by more than 250% and EBITDA by more than 300%.
“This acquisition allows us to build on the foundation put in place over the last four years and represents the belief we have in our team and the industry” Bud Crawford, managing partner of Coeur Capital, said. “Additionally, our partnership with Truist provides additional capital to fuel the growth of Coeur Capital and gives us the flexibility to structure the acquisition without a sponsor. We look forward to growing our partnership with Truist over the years to come.”
Coeur Capital provides factoring facilities and ledgered lines of credit ranging from $10,000 to $1 million. Its typical client generates $250,000 to $15 million in annual revenue.
PrimeArc Capital offers working capital solutions and factoring services to small businesses. PrimeArc Capital services the “micro” end of the factoring industry with credit facilities ranging from $5,000 to $600,000.