Gibraltar Business Capital provided a $3.5 million asset-based line of credit for a growing manufacturing business.

Woodlawn Partners, a private equity firm, acquired a majority of the business when the owner decided to retire. As working capital needs exceeded what the acquiring bank was willing to offer, Woodlawn asked Gibraltar to build a custom revolver.

Gibraltar’s financing team structured an asset-based line of credit that paid out the local bank and increased the available working capital.

“Gibraltar quickly provided a custom tailored solution when traditional banks were struggling to understand the growth story,” said Woodlawn Partner Evan Gobdel. “We were thrilled to find a lender that really listened and responded with a solution.”

Gibraltar Business Capital is a privately held middle-market lender providing small- to medium-sized business owners with financing from $2 million to $10 million.