FGI Worldwide provided a $40 million asset-based loan for ScanSource’s former European business. The facility was used in part to fund a portion of the acquisition by a Charlotte, CA-based family office and to support the company’s future working capital requirements.
The new company will be headquartered in Brussels, Belgium. It is a global provider of technology products and solutions. The business activity is focused on point-of-sale, barcode, physical security, video, voice, data networking and technology services. The acquisition of the European division, which includes the UK, Belgium, France and Germany, was part of ScanSource’s portfolio repositioning to align investments with higher growth and margin businesses.
“We are thrilled to support this acquisition, which came with an aggressive timeline requirement. FGI was extremely impressed by the dedicated leadership of the business. Combined teamwork ensured certainty of execution and enabled this facility to close from start to finish in under 35 days. We look forward to working with all the ScanSource Europe team to meet their future goals,” Victoria Levine, business development director at FGI, said.
