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GemCap Closes $18 Million in Six Transactions

November 09, 2012, 08:30 AM

GemCap announced it closed $18 million in credit facilities for the month of October.

The deals include:

  • A $10 million DIP (Debtor-in-Possession) facility to a Texas manufacturer of lithium phosphate rechargeable batteries
  • A $2.23 million facility, used for working capital as well as acquisition of product lines, to a manufacturer of OEM parts for a broad range of products, including snow plow blades, mounts and accessories
  • A $1.2 million inventory revolver to a high-end jeweler that has been providing premium jewelry and timepieces for over four decades,(the line will be used to refinance the company’s current debt)
  • A $2.0 million facility to a designer and manufacturer of casual and functional footwear for men, women and children, which will help the company expand its current product line and distribution channel
  • A $2 million increase in total facility to a jet engine maintenance, repair and overhaul (MRO) company
  • A $500,000 funding to a manufacturer of comfortable, practical, and eco-friendly footwear.

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