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Stonegate Capital Inks $9.5MM Credit Facility With Bay Area Traffic Solutions

January 16, 2020, 09:00 AM
Filed Under: Transportation

Stonegate Capital announced it has closed a $9,500,000 senior credit facility with Bay Area Traffic Solutions, Inc. (“BATS”).  Metropolitan Capital Bank & Trust served as the debt advisor on the transaction and served an integral role in getting the transaction across the finish line.

Headquartered in Fremont, CA, BATS is one of the largest traffic control companies in California. It provides traffic safety services including traffic control plans, flagging, road/lane closures, freeway work, construction area signs, and equipment sales / rentals. The Company utilized the senior debt facility to refinance prior indebtedness and will continue to use it to support ongoing operational initiatives.

“Stonegate took the time to understand our business, our core values, what drives our success, as well as our future growth plans and it made all the difference,” stated Mariano Pacheco, CEO of BATS.  “They were able to quickly determine the viability of working with our company and to create a financing offering that fit perfectly with our immediate needs as well as our future goals.  In our situation, we were refinancing from a short-term lender while seeking a long-term lending partner and we had a limited amount of time to complete the refinance.  Although all financing arrangements take time to execute, Stonegate was efficient and we were able to meet our aggressive timeline.” 

Mr. Pacheco went on to offer, “It is easy to have a smooth relationship while times are good, but you find out a lot about a partner when something unexpected happens.  Early in the refinance process, our company encountered an unexpected external setback.  We communicated openly and often with Stonegate and they stood by us every step of the way and we were able to overcome the issue and complete the refinance.  The way they worked with us through this unexpected event gave me the confidence that we had truly found the right lender.”

“We are very excited about the opportunity to partner with a rapidly-growing business. Though the process was longer than most due to events outside of the control of either party, I believe that with a refinanced capital structure and the existing capable management team, BATS is poised to achieve its growth objectives in the coming years.” said Jay Fabian, Managing Director at Stonegate Capital. This investment contributes to a successful 2019 for Stonegate Capital which saw the private debt platform double its loan commitments year-over-year.

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