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Essex Arranges $7MM Recapitalization for Defense Contractor

September 29, 2016, 07:12 AM
Filed Under: Aerospace

Essex Capital Group announced the firm recently arranged a $7 million balance sheet recapitalization for a defense and aerospace government contractor based in the Southeast.  The company provides high-end technical, engineering and IT services solutions to both commercial and government clients.

After experiencing an exponential revenue growth trajectory over the last 15 years, the company's existing senior lender was not willing to support continued increases in working capital needs.  Essex was able to structure a new asset-based line of credit for the company, offering flexibility with advances on "billed" as well as "unbilled" receivables.  

Rob Swain, Essex Capital President commented, "We were particularly pleased with the competitive financing terms we were able to negotiate on behalf of our client in this situation. This new facility offers the Company ample liquidity to support ongoing projected growth for the foreseeable future."

Essex Capital acted as the Company's exclusive advisor in this transaction.

Essex Capital Group, Inc. is a Tampa, Florida-based corporate finance firm serving small and middle-market privately held companies located throughout the United States.

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