Lighthouse Financial completed a $4.5 million credit facility for a North Carolina-based fabricator of hard surfaces, glass and accessories.
Founded in 1990, the company is one of the largest manufacturers and installers of natural and engineered surfaces for the kitchen and bath in the Southeastern United States. Accredited by the Natural Stone Institute and Artisan Group membership, the industry’s marks for delivering quality and value, the company prides itself on serving as a most professional trade partner from consultation and design to manufacturing and installation.
After a management buyout, the company embarked on an aggressive growth strategy, tripling sales in a two year period. However, the rapid growth led to several operating inefficiencies, resulting in losses. After successfully turning the business around, the company needed a working capital lender to support new growth. Lighthouse was able to provide an aggressive line of credit against accounts receivable and inventory that paid off the existing lender and provided additional liquidity to support the new growth.
