Gibraltar Business Capital extended its niche lending capabilities to meet greater demand for capital in the private equity group market by welcoming two new members to its team: Alex Friedman and Dan McCallum.
Alex Friedman joins Gibraltar as an assistant vice president, ABL Originations. Most recently he worked at PNC Bank, where he facilitated large syndicated lending relationships for major insurance companies. Prior to PNC, Friedman spent five years as an investment analyst with two different firms, where he studied industry sectors to make equity and fixed income investment recommendations to portfolio managers. Friedman brings a strong deal structuring and execution background to our team.
Dan McCallum joins Gibraltar as a senior associate, ABL Originations. He most recently worked at MB Financial Bank, completing the organization’s internal credit training program; lending his knowledge to the bank’s workout group; and working as a credit officer in the commercial and industrial (or asset based) lending group. Bringing a fresh global perspective to Gibraltar, earlier this year McCallum volunteered with Farmer Livelihood Development in Cambodia, where he helped establish policies and local bank officer training to provide small business loans in this developing country.
Gibraltar said the addition to its origination team will support the continuing efforts of Anthony DiChiara and Heather La Freniere in financing the investment activities of private equity groups in the lower-middle market.
“We have made a concerted effort to work with lower-middle market PE funds and independent sponsors, recognizing the difficulty of obtaining senior financing quickly and with certainty to close for companies with less than $7 million in EBITDA,” says La Freniere, head of Originations. “Further, we’ll consider assets, funding the bulk of the acquisition and thereby reducing the initial size of equity contributed by the buyer. That has resonated with the market, and we continue to work to become the preferred lender to the lower-middle market private equity community.”
Gibraltar said it can now support deals up to $10 million, as well as syndicate larger transactions as required.