Experts at Sourcing Debt Capital
Since 2001

Transactions

Branding and Payment Processing Company

$3,500,000 Revolving Line of Credit

$3,500,000 Cash Flow Term Loan

Private Equity-Sponsored

Refinance Existing Debt & Support Working Capital

 

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Calmark Group

$6,542,000 Senior Secured Credit Facilities

Refinance Existing Debt & Support Working Capital

The Calmark Group, LLC, is one of the leading full-service, single-site direct mail fulfillment operations in the U.S. The Company was formed in May 2012 upon the merger of two previous competitors. Due to certain merger-related issues and the fact that the original loan officer had moved to a different institution, the Company’s bank did not want to continue the relationship. The company had been seeking a new banking relationship on its own but was not satisfied with the progress it was making. After being introduced to the Company, Concord’s assessment of the situation was that the Company was strong, under solid management and would be an attractive client for any number of financial institutions. The Company subsequently retained Concord to search for and secure a long-term banking relationship with a new institution. Concord created a detailed memorandum featuring the Company’s strong management team, competitive strengths in its market and highlighted the plan to maintain and grow profitability and cash flow. After conducting a targeted search process to local, regional and national commercial banks that generated several Term Sheets, Concord secured a commercial banking proposal that met the Company’s objectives and closed the deal.

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Commercial Real Estate Contractor

$4,600,000 Revolving Line of Credit

Refinance Existing Debt & Support Working Capital

A full-service commercial contractor providing comprehensive construction, construction management, remodeling, furnishing and design services was seeking to refinance its existing debt and support working capital. Due to the challenging nature of the construction business, business mix and historical distributions made to support a related entity, the Company’s liquidity became tight.  The Company needed a new lender that understood the business and could provide working capital financing to support its growth. The Company retained Concord as its exclusive financial advisor to arrange its debt financing and identify a Bank that understood the company’s business and objectives.

Concord quickly identified the most appropriate senior lenders for the Company and prepared a detailed memorandum highlighting the Company’s strong customer relationships, extensive scope of services, flexibility of delivery, market diversity and experienced management and employees. Concord conducted a targeted and efficient deal process with regional and national asset-based lenders along with several real estate lenders. Concord procured the most appropriate financing for the Company with a local community bank that provided a revolving credit facility, an equipment term loan and two real estate mortgages. The Company’s owner and management team were impressed with Concord’s proven process, the resulting financing structure and the attractive economics of the transaction.

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Commercial Subcontractor in Ohio

$5,200,000 Senior Secured Credit Facilities

Refinance Existing Debt & Support Working Capital

A leading commercial subcontractor in the electrical, structural steel and roofing market segments in northeast Ohio had been in business for more than 80 years and had been with the same bank for more than 40 years. The Company’s original bank had gone through several mergers and acquisitions and was now part of a much larger institution. The Company found that it was no longer a fit for the bank’s definition of a target customer.  The Company had been seeking a new banking relationship on its own but was not satisfied with the progress it was making. After being introduced to the Company, Concord quickly determined that the Company’s core business was strong, under solid management and would be an attractive client for any number of financial institutions. Concord created a detailed memorandum featuring the Company’s strong management team, competitive strengths in its market and highlighted the plan to maintain and grow core profitability and cash flow. Concord drew on its 14 years of experience to identify a number of financial institutions that were comfortable with the subcontracting space, typically a difficult segment in which to lend.   After conducting a targeted search process generated multiple Term Sheets, Concord secured a financing arrangement from Lorain National Bank, a local community bank covering all of northeast Ohio, which met the Company’s objectives and closed the deal in December.

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Concrete Structures of the Midwest, Inc.

$5,000,000 Senior Secured Revolving Line of Credit

Support Working Capital Needs Related to Growing Work Backlog

Concord Financial Advisors, LLC announces the closing of a $5,000,000 Senior Secured Revolving Line of Credit for Concrete Structures of the Midwest, Inc. (“Company”) located in West Chicago, IL. The Company specializes in cast-in-place concrete construction and design for airport runways, highways, high-rise buildings, specialty flooring, etc.

Concord created a detailed memorandum featuring the Company’s leading industry position, strong ownership / management team and increased market share. Concord drew on its team’s 100+ years of experience to identify multiple bank and non-bank financial institutions that were comfortable with the industry.

After conducting a targeted search process that generated multiple Proposals, Concord secured an attractive loan structure from a local bank that met all of the Company’s financing objectives.

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Direct Marketing Company in Wisconsin

$9,100,000 Senior Secured Credit Facilities

$2.1 MM Revolving Line of Credit and $7.0 MM Real Estate Loan

A nationally (and internationally) recognized direct marketing company providing printing, direct mail, database management and digital marketing solutions to a wide range of consumer, business-to-business and fundraising marketers was seeking to refinance its existing debt and support working capital.  Due to a timing issue related to some pending legal decisions, fewer cases in another division known as Class Action Claims Administration, and the loss of two customers due to reasons unrelated to the Company’s performance, the Company decided to find a new lender that understood its business and could support its growth.  The Company retained Concord as its exclusive financial advisor to arrange its debt financing and identify a Bank that understood the company’s business and objectives.

Concord quickly identified the most appropriate senior lenders for the Company and prepared a detailed memorandum highlighting the Company’s high quality experienced and specialized management teams, long term customer relationships and leadership in certain market niches. Concord conducted a targeted and efficient deal process with regional and national banks along with several real estate lenders. Concord procured the most appropriate financing for the Company with a pair of local community banks that provided a revolving credit facility and a real estate mortgage without utilizing the SBA, saving the Company a significant amount of time and money. The Company’s owners were impressed with Concord’s proven process, the resulting financing structure and the attractive economics of the transaction.

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Electronics Manufacturer

$5,500,000 Senior Secured Credit Facilities

Refinance Existing Debt & Support Working Capital

A specialized, electronic, contract Manufacturer was seeking to refinance its existing senior credit facilities. The Company was underserved by its current Bank who was not providing sufficient support for the Company’s international needs and didn’t seem to understand the business, and its corresponding challenges. The Company had a very strong balance sheet but lost a significant amount of money in each of the last two years. The owner of the business had supported the business during these lean EBITDA years with additional capital, but the incumbent Bank decided not to renew the credit facility for another year. The Company retained Concord as its exclusive financial advisor to arrange a more attractive capital structure and identify a Bank that understood the company’s business and objectives. The owner also wanted to find a new Banking relationship that did not require a personal guarantee. Concord quickly identified the most appropriate senior lenders for the Company and prepared a detailed memorandum summarizing the key aspects of the company, coupled with setting up a data room with all pertinent information for select lenders. Concord conducted a targeted and efficient deal process with regional and national asset-based lenders along with a host of real estate lenders. Concord procured multiple competitive proposals for the transaction. The Company was able to achieve its objective of obtaining an attractive financing structure with a National Bank that can support its international needs with no personal guarantees. The Company’s owner and management team were impressed with Concord’s proven process, the resulting financing structure and the attractive economics of the transaction.

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EMT Elite

$9,865,000 Senior Secured Credit Facilities

Refinance Existing Debt & Support Working Capital

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Food Manufacturer

$80,000,000 Senior Credit Facility

Exclusive Debt Placement Agent

The Company was seeking to replace its existing revolving credit facility with a new facility that would better support the Company’s growth and provide additional liquidity. Concord highlighted the Company’s strong balance sheet and collateral coverage along with its plan to grow profitability and generate significant cash flow. Concord was able to secure an $80,000,000 Senior Secured Revolving Credit Facility with a five- year term that provided additional borrowing base availability and a Capital Expenditure Line of Credit to support the Company’s growth initiatives. Concord closed the transaction in approximately 90 days.

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Granite and Marble Distributor

$4,000,000 Senior Secured Credit Facility

Refinance Existing Debt & Support Working Capital

A granite and marble distributor was in the process of an early stage turnaround and cash flow was constrained. Concord created a detailed memorandum featuring the Company’s recent financial performance, strong current asset collateral, and lack of term debt. After conducting a targeted search process to national finance company asset-based lenders, Concord secured an asset-based proposal that met the Company’s objectives including advances on its in-transit inventory.

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Healthcare

$26,250,000 Senior Secured Credit Facilities

Refinance Existing Debt & Support Working Capital

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Hufcor, Inc.

$20,000,000 Senior Secured Revolving Line of Credit

Refinance Existing Debt & Support Working Capital

Concord Financial Advisors, LLC announces the closing of a $20MM Senior Secured Revolving Line of Credit and $6MM Term Loan for Hufcor, Inc. (Company) located in Janesville, WI. The Company is a leading, global manufacturer and distributor of movable walls.

Concord created a detailed memorandum featuring the Company’s leading global industry position and strong ownership/management team. Concord drew on its 100+ years of collective corporate finance experience and proven debt placement process to identify bank and non-bank financial institutions that were comfortable with the industry and situation.  After conducting a targeted search process that generated a variety of Proposals, Concord secured an attractive loan structure from a nationally recognized finance company that met the Company’s financing objectives, including a Senior Secured Revolving Line of Credit and Term Loan, eliminating the need for a Mezzanine Lender.

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Labriola

$3,630,000 Senior Secured Term Loan

Construction Financing & Working Capital for New Restaurant

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Lanter Distributing LLC

$5,000,000 Senior Secured Credit Facilities

Refinance Existing Debt & Support Working Capital

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Locomotive Manufacturer

$14,800,000 Senior Secured Credit Facilities

Refinance Existing Debt & Support Working Capital

A Midwest locomotive manufacturer was seeking to refinance its existing senior credit facilities and derive additional working capital. The company was under served by the incumbent bank who was not providing sufficient liquidity. Additionally, the company believed the incumbent bank was mired in its internal politics and became unresponsive and unhelpful as a result. The incumbent bank had decided the credit was too small for its portfolio. The company retained Concord as its exclusive financial advisor to arrange a more attractive capital structure and identify a bank that understood the company’s business and objectives. Concord quickly identified the most appropriate senior lenders for the company and prepared a detailed memorandum summarizing the key aspects of the company and the situation. Concord also served as “arbitrator” between the company and the bank, resulting in a more favorable situation for the company as it searched for a new lender. Concord conducted a targeted and efficient deal process with traditional commercial banks and asset-based lenders along with a nationally recognized USDA real estate lender. The process resulted in multiple competitive proposals for the transaction. The company was able to achieve its primary objective of obtaining an attractive financing structure with a local bank in the commercial banking department with limited personal guarantees. Their secondary objective of having a second bank involved was met by obtaining a USDA real estate loan for its manufacturing facility from another bank.

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Netcom, Inc.

$7,545,000 Senior Secured Credit Facilities

Refinance Existing Debt & Support Working Capital

Concord Financial Advisors, LLC announces the closing of $7.545 MM of Senior Secured Credit Facilities for a leading radio frequency technology company in Wheeling, IL (“Company”). The Company has been in business for more than 40 years, but found that it was no longer a fit for its bank’s definition of a target customer. The Company had been seeking a new banking relationship on its own, but was not satisfied with the progress it was making. After being introduced to the Company, Concord quickly determined that the Company’s core business was solid and would be an attractive “relationship client” for many financial institutions. Concord quickly identified the most appropriate senior lenders for the Company and prepared a detailed memorandum summarizing the key aspects of the Company, coupled with setting up a data room with all pertinent information for select lenders. Concord threw on its 16 years of experience and conducted a targeted and efficient deal process with regional and national asset-based lenders, along with local banks. Concord procured multiple competitive proposals for the transaction. The Company was able to achieve its objective of obtaining an attractive financing structure with a local bank that can support its senior debt needs, including a revolving credit facility, a term loan, and a real estate mortgage. The Company’s owner and management team were impressed with the resulting financing structure and the attractive economics of the transaction.

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Organic Holdings

$5,000,000 Revolving Line of Credit

Refinance Existing Debt & Support Working Capital

Organic Holdings, LLC, located in Boca Raton, FL, is a leading manufacturer and distributor of natural, nutritional supplements, vitamins, and healthy weight management products. The Company had been seeking a new banking relationship as its existing bank wanted to exit the industry. After being introduced to the Company, Concord quickly assessed that the Company’s core business was strong, well-managed and would be an attractive client for multiple bank or non-bank financial institutions. Concord created a detailed memorandum featuring the Company’s leading industry position, strong ownership/management team and impressive growth in profitability. Concord drew on its 14 years of experience and proven debt placement process to identify multiple bank and non-bank financial institutions that were comfortable with the industry. After conducting a targeted search process that generated multiple Proposals, Concord secured an attractive loan structure from a nationally recognized finance company that met all of the Company’s financing objectives.

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Ottlite Tech

$7,500,000 Senior Secured Credit Facilities

Refinance Existing Debt & Support Working Capital

OttLite Technologies, Inc. is a designer and importer of specialty lighting products (the “OttLite”) and was purchased by a private equity sponsor in 2006 and had recently restructured its balance sheet with the strong support of Prism Mezzanine Fund, which now owns a controlling interest in the Company. Highlighting the Company’s strong new management team, committed and supportive ownership, strong gross profit margins and leadership position in its product category, Concord sourced several proposals and concluded, along with management, that Marquette Business Credit was the best fit for the Company and the deal closed within 60 days of signing Marquette’s Term Sheet. The entire process was completed in 120 days.

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PE Fund Aftermarket Auto Parts – California

$11,100,000 Senior Secured Credit Facility

Refinance Existing Debt & Support Working Capital

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PE Fund Aftermarket Auto Parts – Tennessee

$15,000,000 Senior Secured Credit Facility

Refinance Existing Debt & Support Working Capital

A private equity fund acquired a manufacturer of aftermarket automotive condensers and coils in 2009. Within a year of the acquisition, the company lost its largest customer which accounted for 25% of sales, negatively impacting profitability and EBITDA. The equity group supported the business during the downturn with additional capital, but the incumbent lender decided to not renew the credit. Despite the fact that the private equity fund was familiar with the senior debt market and had multiple relationships, it recognized the value of having an outsourced debt placement agent and engaged Concord to run the process. Concord performed a situational analysis and prepared a detailed memorandum highlighting the successful ongoing turnaround, strong collateral base and committed ownership. Concord was able to leverage its relationship with a nationally recognized asset-based lender and secure an aggressive structure for the company, including an over advance and quarterly covenants.

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PE Fund Manufacturer of Identity & Human-Machine Interface Solutions

$8,200,000 Revolving Line of Credit

Refinance Existing Debt & Support Working Capital

The Company was recovering rapidly from events which had negatively impacted profitability, and needed to find new lenders to support the continued improvement. The private equity fund owner was familiar with the debt markets and had multiple existing relationships, but it recognized the value of having an outsourced debt placement agent and engaged Concord to run the process.

Concord performed a situational analysis and prepared a detailed memorandum highlighting the successful ongoing turnaround, strong management and committed ownership. Concord was able to leverage its relationships with multiple nationally recognized, asset-based lenders and secure an aggressive structure for the company, including a $1.1MM second lien term loan with no covenants from one lender, coupled with an $8.2MM senior revolving line of credit from another lender. Concord closed the transaction within 6 weeks of going to market.

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Pizza Franchisor

$5,000,000 Cash Flow Term Loan

Refinance Existing Debt & Provide Working Capital

A pizza franchisor had an expiring credit facility with the interest rate about to increase dramatically. The Company also requested to consolidate the existing officer loan into the refinance. The Company has a strong three-year trend of positive earnings and EBITDA, but did not meet the minimum levels required for a traditional leverage transaction and there were no current or fixed assets to support the loan as collateral. Concord utilized a detailed memorandum featuring the Company’s strong and sustainable cash flow, growth into new markets and profitability. After conducting a targeted process to local, regional and national commercial banks, Concord secured a commercial banking proposal that met the Company’s objectives and closed the deal in under 90 days.

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Point of Sale Manufacturer

$15,600,000 Senior Secured Credit Facilities

Refinance Existing Debt & Support Working Capital

A designer and manufacturer of fixtures and point-of-sale products for leading national retail chains had a credit facility with a Bank that was taken over in an FDIC-assisted transaction and the acquiring Bank did not want to continue the relationship. After conducting a targeted search process to a variety of capital providers, Concord secured a commitment letter that met the Company’s objectives and closed the transaction in approximately 60 days to the satisfaction of all parties.

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Precision Casting

$2,250,000 Revolving Line of Credit

$2,560,000 SBA 7(a) Term Loan

A precision investment casting, rapid prototyping and machining company is one of the only vertically integrated casting companies in the industry, providing customers with a complete slate of services from CAD drawings and prototyping to complete finished assembly. Industries served include defense, oil & gas, aerospace, industrial turbines and medical. The company was struggling to refinance its existing lender and retained Concord to run the refinancing process. Concord quickly identified the key to a new transaction required SBA 7(a) financing. The new term financing would allow the company to service its existing debt over a longer amortization period and free up near term cash flow. Concord created a detailed memorandum featuring the Company’s strong management team, competitive strengths in its market and highlighted the plan to maintain and grow profitability and cash flow. After conducting a targeted search process to local, regional and national commercial banks Concord secured a commercial banking proposal that met the Company’s objectives.

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Precision Parts & Engine

$6,000,000 Note Sale

Acquisition

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Scrap Metal Processor

$6,650,000 Senior Term Loan

Refinance Existing Debt & Support Working Capital

A Midwest scrap metal processor was seeking to refinance its existing senior credit facility and secure incremental working capital for growth. The company was under distress and required a balance sheet restructuring. The company retained Concord as its exclusive financial advisor to arrange a new senior facility with a non-bank lender under flexible terms. Concord identified a variety of non-bank lenders for the transaction and ultimately secured a cash flow term loan based on a multiple of the companies EBITDA. Concord also served as “arbitrator” between the company and the bank, resulting in a more favorable situation for all of the parties involved. The company was able to achieve its primary objective of exiting the bank, restructuring its balance sheet and obtaining incremental working capital.

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Specialized Heavy Equipment

$7,000,000 Senior Secured Credit Facilities

Refinance Existing Debt & Support Working Capital

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Specialty Commercial Subcontractor

$5,200,000 Senior Secured Credit Facilities

Refinance Existing Debt & Support Working Capital

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Specialty Toy & Craft Manufacturer

$10,000,000 Revolving Line of Credit

Refinance Existing Debt & Support Working Capital

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Supplier of Electrical Products

$1,350,000 Senior Secured Revolving Line of Credit

$900,000 Second Lien Term Loan

Refinance Existing Debt & Support Working Capital

A niche supplier of electrical products, primarily customized and standard power cords and electrical cable and wire products, was seeking to refinance its existing debt and support working capital. The Company was saddled with debt from a former sister company that went out of business in 2010. This debt obligation, while being reduced over time, limited the Company’s ability to invest in its busienss and created working capital constraints. The Company worked diligently to cut costs and improve margins and needed a new lender that understood the business and could provide working capital financing to support its growth. The Company retained Concord as its exclusive financial advisor to arrange its debt financing and identify a lender that understood the Company’s business and objectives.  Concord quickly identified the most appropriate senior lenders for the Company and prepared a detailed memorandum highlighting the Company’s diverse, blue chip customer base, strong supplier network, efficient operations, and strong management team. Concord conducted a targeted and efficient deal process with regional and national asset-based lenders to procure the most appropriate financing for the Company. A family office provided a $1.35 million senior secured working capital line of credit and the existing lender, a national bank, took back a $900K junior secured term loan. The Company’s owner and management team were impressed with Concord’s proven process and its ability to negotiate and structure a multi-faceted financing solution.

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Tap Room Gaming, LLC

$15,500,000 Senior Secured Credit Facilities

Acquisition Financing, Refinance Existing Debt & Support Working Capital

Concord Financial Advisors, LLC announces the closing of $15,000,000 of Senior Secured Credit Facilities for Tap Room Gaming, LLC (TRG), a leading provider of video gaming and amusement services in Illinois. TRG, founded in 2012, sought acquisition financing to complete the purchase of a strategic key competitor. Concord provided value added services by successfully completing a search for debt financing. Concord quickly assessed that TRG’s core business was strong, as was their management team, and hence would be an attractive client for several leading financial institutions. Concord worked with TRG to prepare and present an offering memorandum featuring TRGs strong management team, competitive strengths in the IL market and, furthermore, highlighting the synergies of the proposed acquisition. After conducting a targeted search process to a variety of prospective debt capital providers, Concord secured a financing proposal that allowed TRG to complete the transaction and provide an avenue for growth capital should other similar opportunities arise.

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Television Broadcaster

$16,000,000 Senior Credit Facilities

Refinance Existing Debt & Support Working Capital

A Michigan based television broadcaster (CBS and FOX affiliates) is seeking to refinance its existing senior credit facilities. The company operates in a duopoly market and dominates the market with its local news coverage. Most recent FYE EBITDA is 3x preceding three year period. The incumbent lender decides to exit the market for single ownership broadcasters and the company needs to refinance its current credit facility. Concord prepares a detailed memorandum highlighting the company’s most recent FYE EBITDA performance, increasing contracted retransmission revenues, strong political advertising trends and experienced management team. Concord runs a targeted and efficient sales process to traditional commercial banks and mezzanine investors interested in the broadcasting space. Concord secures three commercial bank proposals and the company is not required to take on higher priced mezzanine financing. Concord negotiates the three commercial bank proposals and secures a very aggressive structure with below market pricing. Management is very pleased with the Concord process, the final structure of the deal and the pricing it provides.

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Transportation & Logistics

$6,958,000 Senior Credit Facilities

Refinance Existing Debt & Support Working Capital

A transportation and logistics company which provides over the road transportation, logistics, freight management and warehousing solutions to a variety of customers and industries has a credit facility with a bank that is acquired and the facility is not renewed. The Company is struggling to secure new financing and its conversations with multiple traditional lenders and a variety of finance companies are unsuccessful. After being introduced to the Company, Concord’s assessment of the situation is that the Company is financeable due to its collateral coverage, recent financial performance and experienced management team. The Company subsequently retains Concord to search for and secure new financing. Concord quickly identifies the three most appropriate lenders for the Company’s credit profile and secures a traditional bank asset-based credit facility for the Company including a $1,000,000 million Capex line to purchase new M&E and upgrade its fleet of tractors. Concord also secured additional incremental liquidity via a SBA 7(a) loan against the Company real estate.

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Vertical Cloud

$10 Million Revolving Line of Credit

$3 Million Senior Secured Cash Flow Term Loan

Quadrant 4 System Corp (“QFOR”) in Rolling Meadows, IL, is a SMAC (Social, Mobile, Analytics and Cloud) technology company offering state-of-the-art PaaS (Platform as a Service) and SaaS (Software as a Service) solutions in Healthcare, Media and Retail. The Company was seeking to refinance its existing working capital factoring lender, $3,000,000 of mezzanine financing and secure incremental capital for growth. The company retained Concord to run the refinancing process and secure a new senior lender that can grow with the Company. Concord quickly understood the story of the credit and presented the opportunity to a variety of asset-based lenders across the U.S. Critical to the transaction was refinancing the existing mezzanine financing. Concord secured a market based asset-based credit facility from MidCap Financial, LLC that included a $3,000,000 senior term loan. The new facility greatly improves the Company’s cost of capital and provides ample availability to accommodate the Company’s growth projections.

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Vista-Pro

$15 Million Senior Secured Credit Facility

$15 Million Revolving Line of Credit

A leading Midwest private equity fund was seeking to refinance and expand its asset-based revolving line of credit for one of its portfolio companies. The company is a manufacturer and distributor of aftermarket and OEM automotive heat transfer products. Despite its multiple senior lending relationships, the private equity fund recognized the value of outsourcing the debt placement to an experienced intermediary to drive the process and secure the most favorable financing for its portfolio company. Concord prepared a detailed memorandum highlighting the company’s strong collateral position, projected path to improved cash flows and committed capital from the Midwest equity sponsor. Concord ran a targeted and efficient sales process to traditional bank asset-based and finance company lenders and sourced three bank asset-based proposals. Concord negotiated the three proposals and secured a very aggressive structure with market pricing. Management and the sponsor were very pleased with the Concord process, the final structure of the deal and the market based pricing it provided.

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Wismarq Industries, LLC

$8,000,000 Revolving Line of Credit

$2,000,000 M&E Term Loan

Headquartered in Wisconsin and with operations in Illinois, Pennsylvania and Tennessee, Wismarq Industries, LLC performs specialty coating of steel and aluminum for customers throughout the eastern United States, serving the commercial building and housing markets. The Company’s Lender declared a default and the parties entered into a forbearance agreement. It was concluded that the sale of Wismarq as a going concern or a refinance (if possible) was a better option than winding down the Company. Concord led the preparation of financial due diligence for potential lenders and/or investors by way of a secure data room. Concord Financial Advisors, LLC immediately assessed the situation and ran a very quick and intense, yet comprehensive, two-week process to find refinancing lenders and/or buyers. The most favorable proposal was made by a Los Angeles based private equity firm, Peninsula Pacific Strategic Partners, LLC (PPSP) which proposed to purchase the notes from the Lender. Peninsula proved to be a value-added equity partner providing a permanent solution. Concord also introduced PPSP to MB Business Credit, which moved quickly and aggressively to put together a working capital facility to augment the proposed note purchase. Working together and with the Lender, the team closed the transaction in less than
six weeks. As a result of the team’s efforts, a fundamentally sound but distressed company was restructured in a very short time frame with over 200 jobs retained.

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Woodworking Millwork Firm

$2,500,000 Senior Secured Credit Facilities

Purchase of Assets of the Company & Support Working Capital

A high end woodworking millwork firm was seeking to obtain financing to purchase the assets of the Company from its senior lender. The Company had been negatively impacted by a fire and fraud by a former partner and was experiencing tight liquidity. A very experienced Executive Coach and Turnaround Advisor was brought in to assist the Company. He put together a transaction to purchase the assets of the Company and raised $1.2 MM of equity to partially finance the transaction. The Company retained Concord as its exclusive financial advisor to arrange the debt financing portion of the transaction and identify a Bank that understood the Company’s business and objectives. Concord quickly identified the most appropriate senior lenders for the Company and prepared a detailed memorandum summarizing the key aspects of the Company, coupled with setting up a data room with all pertinent information for select lenders. Concord conducted a targeted and efficient deal process with regional and national asset-based lenders along with a host of real estate lenders. Concord procured multiple competitive proposals for the transaction. The Company was able to achieve its objective of obtaining an attractive financing structure with a regional bank that can support its senior debt needs including a revolving credit facility, a term loan, and a real estate mortgage. The Company’s owner and management team were impressed with Concord’s proven process, the resulting financing structure, and the attractive economics of the transaction.

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