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Lawrence Financial Closes 20 Deals in First Half of 2016

August 05, 2016, 07:31 AM

In the first six months of 2016, Lawrence Financial Group reported closing 20 transactions with funding in excess of $75 million. Highlights include:

  • $35 million for outdoor products group. This Los Angeles based company, formed in 1973, develops, manufactures and distributes items including back packs and luggage, accessories, apparel and other things used for outdoor recreation and travel. The company is international in scope and will use its new financing for growth and expansion.
  • $7 million to construction products firm. Founded in 1975 and located in Simi Valley, CA, the company will use financing to expand inventory import purchases. Items include air compressors, generators, light towers, and compactors. These are sold to rental companies, who, in turn, rent to contractors.
  • $5 million for reality tv producer. This group, operating from Burbank, CA, produces and distributes reality television shows. Its offerings include animal shows, medical and legal advice programs and similarttypes of productions.
  • $3 million for golf products distributor. Based in Anaheim, CA, the company designs and manufactures primarily for golf courses,country clubs,resorts,parks and hotels. Products include irrigation equipment, chairs, signage, receptacles and all other types of things needed by its customers. Founded 20 years ago, the firm continues its rapid expansion and needed funding.
  • $4 million for biotech acquisition. The private equity group used the financing, together with its equity, to acquire a company which sells medical supplies. Primary customers are hospitals, urgent care facilities and clinics.
  • $1 million subordinated term loan. This was made available to a custom manufacturer of case goods. The borrower supplies furniture, vanity bases and other types of cabinetry. Major clients are hospitality chains such as resorts, hotels, senior living facility operators and other multi family projects.

Other closings include:

  • Five factoring lines of credit for rapidly growing companies. These loans were structured as revolving facilities to a total of more than $5 million.
  • Four SBA loans for 2 fitness centers, an advertising agency and a post production house were funded to a total of $3 million.
  • Three real estate placements for companies seeking additional capital infusion.
  • Two term loans to companies for purchase of new manufacturing equipment.

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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