Gibraltar Business Capital provided $20 million in acquisition financing to support CriticalPoint Capital’s acquisition of substantially all of the assets of the farm supply distribution division from Southern States Cooperative. CriticalPoint Capital rebranded the newly acquired division Agway Farm & Home.
Gibraltar Business Capital provided a growth-enabling credit facility to Clearon Corp., a manufacturer of chlorinated dry bleach used in an array of applications, including water treatment, disinfection and sanitization.
Gibraltar Business Capital provided a $7.5 million asset-based loan to Willamette Falls Paper Company, an Oregon-based independent manufacturer that utilizes sustainable and recycled fiber sources to produce coated freesheet, offset, envelope, packaging and specialty papers.
Asset-based lender Gibraltar Business Capital closed 12 transactions and $130.5 million in new commitments in the past nine months since COVID-19 was declared a pandemic.
Gibraltar Business Capital provided a $5.5 million asset-based loan to Spokane Industries, a Washington-based manufacturer specializing in steel castings and metal products.
Gibraltar Business Capital expanded its operations and credit teams to address increased demand for its services, specifically hiring Paulina Nenadovic as a collateral analyst for the operations group and Todd Seehase as a senior vice president and account executive on the credit side.
Gibraltar Business Capital is celebrating 10 years of serving middle-market companies with the access to liquidity they need to thrive. Over the past decade, GBC has supported more than 200 borrowers with $500 million in funding commitments.