Daily News: August 8, 2019

Lawrence Financial Closes 10 Deals Totaling $50MM in H1/19


Lawrence Financial Group closed more than 10 transactions with value in excess of $50 million in the first six months of 2019.

Brief details of significant transactions are:

  • $2 million to a manufacturer/distributor based in in Rancho Dominquez, CA, in the organic industry. The company formulates neutraceutical supplements with over 300 ingredients. The loan is a working capital line of credit provided by a bank.
  • $4 million to a dealer/installer of fitness equipment. Customers include Amazon and Dick’s Sporting Goods. The revolving working capital line provides funds for growth and expansion, working with larger manufacturers such as StarTrac.
  • $2 million purchase order line obtained for a long-time client of Lawrence Financial. The purchase order line allowed the manufacturer of nutrition bars to extend its presence in retailers such as Starbucks, Target and Walgreens.
  • $1 million sub-debt arranged for a candle manufacturer/distributor. The company, which already had a $5 million loan from a bank, had maximized availability and needed the additional funding to pursue expanding opportunities.
  • $1 million purchase order line was provided to a proprietary cosmetics firm. Money was needed for building kiosks in the Rite Aid Drug chain to display its complete array of face products for women.

Highlights of deals closed earlier in the year included:

  • $14 million for a Los Angeles contract manufacturer of shampoo and other items sold in Costco and other big box retail firms as well as private label.
  • $8.5 million for a famous name brand sunglass firm. Other products include ski and swim goggles.
  • $5 million for an innovative developer/manufacturer of electronic consumer articles such as a self-warming coffee cup.