Lighthouse Financial provided a $3.5 million revolving line of credit to a Maryland-based distributor of food service equipment, workplace safety and janitorial supplies to customers nationwide.
For decades, the company has supplied school systems, municipalities, hospitals, government agencies, correctional facilities, and hotel and restaurant chains with quality products.
In addition to offering an array of products, the company also provides kitchen consultation, layout and design services, as well as custom fabrication and millwork. The company is also one of the nation’s largest poly bag liner distributors.
The credit facility was designed to refinance an existing line of credit provided by a private equity group which had recently acquired the business. Lighthouse structured a line supported by accounts receivable and inventory allowing the private equity group to recoup a substantial piece of their investment while providing additional working capital for the company.