Gibraltar Business Capital closed two credit facilities for a total of $9.5 million, reaching $150 million in total commitments for the first time in the company’s history.
Gibraltar first closed a $6 million facility with Dickinson Press, a Grand Rapids, MI-based printer of books and other materials. Dickinson used the financing to repay funds used to acquire another bindery operation.
Gibraltar also refinanced and expanded an industrial manufacturing fluid reprocessing company’s revolving working capital access with a $3.5 million line of credit commitment. The sponsor-owned company needed additional working capital to support growth and new ventures after its equity owner expanded its capabilities through new acquisitions.
