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Essex Arranges $3.15MM Recap for Industrial Manufacturer

November 20, 2014, 07:12 AM
Filed Under: Manufacturing

Essex Capital Group announced the closing of a $3.15 million balance sheet recapitalization for a privately-held industrial manufacturing company.
As a part of the restructuring, Essex was successful in arranging a comprehensive solution that involved two specialty finance companies: an asset-based line of credit provided traditional advance rates on accounts receivable and inventory. Separately, Essex also arranged for a sale-leaseback on the company's existing equipment to provide further liquidity.
The new capital structure allows the company to deleverage through the payoff of subordinated debt, while providing additional working capital to support ongoing operations and growth opportunities. 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. With extensive capital markets experience, Essex provides creative solutions to businesses in need of financial restructuring. Typical advisory services include balance sheet recapitalizations with senior and subordinated debt. Since inception in 2003, Essex has successfully arranged in excess of $400 million for its corporate finance clients.

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