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Gibraltar Business Capital Provides Asset-Based Revolver to Family Office-Owned Inspection and Testing Solutions Provider

June 24, 2024, 07:40 AM
Filed Under: Specialty Industries

Aegeus Group has over 40 years of experience in advanced non-destructive testing, inspection, engineering, and staff augmentation solutions. The company serves diverse markets, including oil & gas, power, renewable energy, defense and aerospace, civil and building infrastructure, food and beverage, and other manufacturing companies. Aegeus was acquired in mid-2023 by Ten Oaks Group, a family office exclusively focused on investing in corporate divestitures. After initiating a significant operational restructuring, the sponsor sought a lending partner that could structure an asset-based revolver that would provide maximum flexibility to support the continued turnaround and growth of the company while concurrently providing ample liquidity to make future acquisitions.  

Gibraltar Business Capital (“GBC”) has significant experience lending to Aegeus’ industry. As a result, the team was able to quickly structure and close a significant ABL facility secured by accounts receivable that met the client’s objectives.

“Our tenure working with turnaround-focused investors and private equity firms, extensive experience in this sector, and repeat work with Ten Oaks Group showcases our strengths in structuring solutions to help investors and financial sponsors achieve their business goals,” said Jim Marasco, Head of Originations at Gibraltar Business Capital.

“Our previous successful experience working with GBC on another portfolio investment gave us the confidence they could provide a quick and efficient diligence and closing process, as well as being a trusted financial partner who could assist us in creating shareholder value over the life of the relationship,” said Matt Magan, Co-Founder at Ten Oaks Group.

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