Liquid Finance completed a transaction for GVM to help the agricultural equipment manufacturer exit Chapter 11 bankruptcy. With the reorganization, GVM has cleaned its balance sheet, allowing it to continue manufacturing agriculture and snow equipment in its facilities in Ohio, Pennsylvania, Missouri and Indiana. Liquid Finance structured a transaction that helped GVM grow distribution across North America. The transaction was finalized on May 28, which allowed GVM to exit bankruptcy protection and fulfill orders for farmers and agricultural co-ops.
“This saves American manufacturing jobs and continues GVM’s agriculture innovation which in turn helps American crop yields,” William Melvin, CEO of Liquid Finance, said. “It’s pretty cool to accomplish this in the post COVID-19 world. GVM [manufactures] the best fertilizer spreaders in the world and this transaction allows them to continue their growth across North America. We believe their success could help increase food yields globally in the next 10 years, plus their snow products help state departments of transportation reduce costs.
“Liquid Finance is excited to assist with GVM’s success. When we met with the GVM team, we learned they had some unique challenges ahead of them. We see value and find solutions that other finance companies struggle with. We were able to structure a transaction that allows them to clean up their balance sheet, lower costs and get back on their feet to grow in the years ahead. It’s great to help save American manufacturing jobs and American innovation. Farmers can sleep at night knowing the GVM Prowler is keeping their crops safe.”
Liquid Finance is an asset-based finance company that provides term loans, asset-based loans, sale leasebacks, debtor-in-possession loans, bankruptcy exit loans and other high stress special situation financing.
