MidCap Business Credit closed a $4 million asset-based credit facility for Trans-Lux.
Headquartered in New York City, Trans-Lux is a designer and manufacturer of high-performance state-of-the-art digital display solutions and fixed digit scoreboards.
The asset-based credit facility is comprised of a working capital revolver and a machinery and equipment term loan.
“As we approach our 100th anniversary, our partnership with MidCap, along with our equity financing earlier this year, provides us the ability to seek new opportunities and grow our business as we look forward to our next 100 years,” said Todd Dupee, senior vice president and chief accounting officer of Trans-Lux.
The deal originated in MidCap’s headquarters in West Hartford, CT.
“We were able to provide Trans-Lux with a flexible working capital facility that will provide the company with the liquidity they need to achieve their financial objectives,” said Seth Cooper, senior vice president of MidCap Business Credit.
