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.

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• $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.

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• $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.

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• $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.

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• $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.

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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.

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• $8.5 million for a famous name brand sunglass firm. Other products include ski and swim goggles.

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• $5 million for an innovative developer/manufacturer of electronic consumer articles such as a self-warming coffee cup.

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