CapX Partners closed on a $3 million senior term loan to Acumentrics to support the company's growth needs.
Based in Westwood, MA, Acumentrics is a leader in AC and DC uninterruptible power supplies for military and industrial power conditioning, backup power supplies, and other mission-critical applications. The holding corporation consists of two wholly owned subsidiaries, both of which are experiencing considerable growth opportunities.
Acumentrics RUPS, LLC is a preferred supplier of U.S.-made power electronics to most of the world’s largest prime defense contractors. The company's Rugged-UPS™ products are trusted in punishing environments with over 60,000 units deployed globally in military and industrial sites. They feature a unique Flo-Thru heatsink tunnel design and gasket sealed enclosure to provide maximum protection for components from the damaging effects of moisture, airborne particles and other contaminants.
Acumentrics turned to the debt markets to strengthen its balance sheet and improve its capital structure. CapX provided a $3 million senior term loan that refinanced the Company’s existing debt and provided additional growth capital. The new facility positions the Company to exploit significant growth opportunities on both sides of its business.
“CapX Partners really delivered for Acumentrics, with a term loan that required a deep understanding of the two quite different business lines of the Company. They did very thorough homework on us, worked with us to fit the credit to the Company, were clear on their parameters and were able to deliver what they promised. They have been a pleasure to deal with” says John Cerulli, Chief Financial Officer, Acumentrics.
“CEO Gary Simon and his team, along with the support of lead investor SourceSquared LLC, have established two attractive niche businesses. We have enjoyed working with John Cerulli, CFO, and James Wilson at SourceSquared to provide growth financing for these exciting businesses, and we look forward to an expanding relationship in the future” says Stephen Healey, Managing Director, CapX Partners.
Founded in 1999, CapX Partners is a specialty finance company that focuses on private equity and venture backed portfolio companies looking for debt financing in the $2 million to $20 million range. CapX provides senior and mezzanine debt including lease lines and favors manufacturing, distribution, technology, energy and healthcare industries with an emphasis on revenue producing fixed assets.