Pacific Mercantile Bank provided a $5 million credit facility, consisting of a revolving line of credit and commercial term loan, to Egide USA.
Egide also utilized a full suite of Pacific Mercantile Bank’s depository products and treasury management services. The company was referred to Pacific Mercantile by its sister company Santier, an existing client of the bank.
Egide supplies hermitic packages for sensitive electronic components utilized in high tech applications, such as thermal imaging surveillance, security and sensing. The company operates in markets with strong technology barriers to entry in critical industry segments such as space, defense, security, aeronautics, telecommunications and energy.
“Pacific Mercantile Bank has proven to be a great banking partner for Santier, and we are happy to expand our relationship,” said James F. Collins, CEO of Egide. “Pacific Mercantile understands our industry and business model well and was able to deliver on their promise to customize a credit facility that fit our specific needs. As a dynamic company serving multiple international markets, our financial needs are constantly changing, and it’s valuable to have a flexible partner like Pacific Mercantile Bank that can work with us as we continue to evolve and grow our business.”
“While working with Santier, we have seen the strong synergies that have been created through its combination with Egide,” said Rob Parks, senior vice president at Pacific Mercantile Bank. “We are very pleased to have the opportunity to work with Egide to further the success of the entire company.”
