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SVBusiness Capital Provides Acquisition Financing for Buyout of Snow Removal Business

November 08, 2017, 08:00 AM

Scott Valley Bank’s Asset Based Lending division, SVBusiness Capital has recently provided to a Calaveras County, CA based company a $400,000 term loan for acquisition of a snow removal business. The company will integrate the area’s largest snow removal business into its existing snow removal and logging operations. The business assemblage will also enable the company to utilize during the warmer months some of the heavy construction equipment, deploying those assets at their logging and construction venues.

The several hundred prepaid snow-removal contracts provide additional cash stability, especially during the logging off-season, making the acquisition very accretive. “Combining the existing positive cash flow with the new contracts along with the hard asset values made for an attractive lending relationship,” said Kevin O’Hare, President of the Asset Based Lending Group. He went on to say, “we are delighted to partner with a long-tenured and successful company, particularly as they grow their public-safety revenue streams.”

Ron Glass, the founder of Ronwright Logging Lumber Construction said, “The opportunity to acquire the business on such short notice and to close it prior to the snow season was critical. However, dealing with Kevin and his team was relatively painless despite the many moving parts, multiple entities, deadlines, as well as the regulatory requirements and notices in order to properly complete the Bulk Sale Transfer.”


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