Gibraltar Business Capital funded an acquisition for a new client via an $18 million line of credit. The transaction was initiated by a family office investor group.
The family office acquired two refrigeration divisions of a larger manufacturing company. With facilities in Wisconsin and Mississippi, the divisions manufacture refrigerated cabinets and walk-ins for use in food service, restaurants, grocery stores and other retail end markets.
The family office investor group approached Gibraltar. As with any acquisition financing, Gibraltar needed to move quickly to ensure a timely and certain closing of the overall transaction. The $18 million line of credit was closed and funded within 35 days of the signing of the purchase agreement by the family office and the selling parent company. Gibraltar was able to offer a creative structure that allowed some diligence to be done post close in order to close more quickly and meet the seller’s tight closing deadline.
Gibraltar offers credit facility capacity between $2 million and $20 million to serve mid-market businesses and their unique needs.
