Daily News: October 4, 2012

Gibraltar Business Capital Closes Three New Transactions

Gibraltar Business Capital (GBC) closed on three new credit facilities totaling $7.05 million to support several corporate carve-outs and a startup business.

GBC closed on a $1.25 million revolving line of credit to a Palo Alto-based private equity firm to help finance the buyout of a software company as part of a corporate spin-off. The borrower has developed a market leading software system that manages glucose levels for patient’s in-hospital. This system optimizes the administration of insulin to a hospital’s most vulnerable ICU patients.

GBC also completed a $5 million factoring line of credit to a NY-based social advertising company. This financing was also part of a corporate divestiture resulting in the company being majority owned by a Boston-based private equity firm. This company uses proprietary algorithms to help Fortune 500 companies more effectively market its brands using social media outlets such as Facebook, Twitter, YouTube, LinkedIn, etc.

Separately, GBC closed on an $800,000 factoring line of credit to a FL-based startup company in the healthcare staffing space. This company is majority owned by a FL-based private equity firm and the facility will be used to support the rapid growth of this startup enterprise.