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Commercial Finance Partners Closes $15MM Acquisition of Metal Stamping, Plating Company

June 01, 2023, 07:05 AM
Filed Under: Manufacturing

Commercial Finance Partners (“CFP”) facilitated the closing of $5,235,000 Conventional Term Loan and $4,000,000 Revolving AR Line of Credit to support the acquisition of a Metal Stamping and Plating Company located in Texas. Engaged by the sponsor whom CFP had closed numerous prior transactions with, CFP was able to put together a term loan and revolver to support both the acquisition and the ongoing working capital needs. The remainder of the transaction was financed by the sponsor, as well as the seller. Without the collateral to support a traditional equipment leveraged buyout, the company engaged CFP to provide a solution that would yield an LTV in excess of 100% on the term side, while carving out the receivables for ongoing liquidity.
“The transaction we closed is a quintessential transaction for Commercial Finance Partners and how we are able to put together structurally complex solutions for our clients” comment Darren Palestine, Managing Partner.  “It was great to work with an existing client and deliver another successful outcome for the growing portfolio of businesses for the sponsor.”

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