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Lawrence Financial Arranges Ten Deals Totaling More Than $30MM

April 22, 2016, 07:32 AM

Lawrence Financial Group announced the execution of ten significant financing arrangements in the first quarter of 2016, with total commitments in excess of $30 million. The firm has provided capital for more than 1,000 companies in its 26-year history.

Of these ten deals, three were in conjunction with Lawrence’s joint venture partner, FSW Funding of Phoenix. A summary of the deals is listed below:

  • $7 million provided to a Simi Valley concern which imports air compressors and other construction related products. The borrower needed additional working capital to import large purchases of inventory. Major customers of the concern are primarily equipment rental operations nation-wide.
  • $5 million revolving working capital to re-finance a Los Angeles reality television producer. Previously Lawrence had arranged a $3 million facility which the client had outgrown. Major buyers of the syndicated shows include Sky TV of the United Kingdom as well as many domestic broadcasters.
  • $4 million was provided for the acquisition of a medical products concern. The private equity sponsor needed the loan in order to close the leveraged buyout transaction. Money obtained was structured as a revolving working capital line of credit.
  • $1 million sub-debt arranged for a custom manufacturer of case goods, including furniture, vanity bases and other types of cabinetry. Major clients include hospitality chains, senior living operations and multi-family locations.
  • $1 million SBA loan provided to an operator of exercise and training facilities. Money from the SBA loan was used to buy an additional location.
  • $1 million SBA loan to a Santa Monica based post production firm. The company will utilize the funding to continue work on commercials for clients including Lexus and Fiji Water.

Lawrence also provided a re-financing of a construction company headquartered in Los Angeles. The borrower's building had increased value which allowed a larger mortgage the concern. The three FSW funding’s included:

  • A working capital line to a distributor of energy bars. The company had received a larger order from Starbucks and needed more financing to build up the inventory needed for this order as well as the growth from its other customers.
  • A Los Angeles based developer and distributor of beauty cosmetics obtained monies for its rapidly expanding customer base. Significant business was coming from retailers such as Whole Foods, which necessitated leverage for its growth.
  • A large provider of laminating supplies received financing for its growth and expansion. The firm exports these supplies to health and childcare concerns. Its worldwide distribution includes shipments to Australia and New Zealand.

Lawrence, founded in Los Angeles in 1990, has assisted more than 1,000 companies to obtain financing for growth, expansion, acquisition and re-structure. Leading the Lawrence team is Chairman Lawrence Hurwitz and Managing Partner Haze Walker.

Lawrence specializes in providing asset based financing including loans secured by accounts receivable and inventory, as well as term loans on equipment and Intellectual property. Other areas of expertise include purchase order loans, financing companies selling to offshore customers. Lawrence also arranges subordinated debt, mezzanine and junior subordinated funding, cash flow and DIP loans.

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