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Gibraltar Business Closes $3MM Credit Facility for Sponsor-Backed IT Firm

March 21, 2019, 08:00 AM
Filed Under: Technology

Gibraltar closed on a $3 million facility to fund a strategic turnaround plan for a national IT consulting firm. The deal was referred to Gibraltar by a private equity group that owns the company. This IT consulting client refinanced a previous loan with a new $3 million accounts-receivable-based credit facility from Gibraltar.

Gibraltar’s new client recently undertook a business restructuring plan and shift in their talent sourcing model. The turnaround is expected to reduce labor costs and allow for a more nimble go-to-market strategy. However, the right kind of working capital facility was needed to provide intermediate stability and fund implementation.

Gibraltar’s targeted expertise working with private equity firms was a critical factor in producing this positive outcome — financing that sets the company up to grow successfully and increase in value.

Gibraltar offers credit facility capacity between $2 million and $20 million to serve lower mid-market businesses and their unique needs. In 2018, Gibraltar broke a significant record, reaching $150 million in total commitments for the first time in the company’s history. Its customized financing solutions are helping Gibraltar clients overcome short-term capital challenges, navigate complex transitions, and take advantage of growth opportunities.

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