Transactions

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AMS Group, Inc.

$9,680,000 Senior Secured Credit Facilities

$7.0MM Revolving Line of Credit

$1.68MM Equipment Term Loan

$750K CapEx Line of Credit

$250K AdvanceTerm Loan

Refinance Existing Debt & Support Working Capital

Concord Financial Advisors, LLC closed a $9.68MM Deal, including: $7.0MM Revolving Line of Credit, $1.68MM Equipment Term Loan, $750K CapEx Line of Credit, and $250K Advance Term Loan, for AMS Group, Inc. (“Company”).

AMS Group, Inc. is the parent company of three wholly owned subsidiary companies: National Tool & Manufacturing Co., Champion Steel Corporation, and Champion Strapping Products, Inc. 

In early 2017, the Company’s bank determined that AMS was no longer a suitable fit for their portfolio and asked them to secure a new lender.

Initially AMS Group, Inc. searched for a new financing partner on its own. They met with multiple lenders, but received no attractive offers. The incumbent bank recommended that the Company utilize Concord’s debt placement services to secure a new lender.

Concord stepped in and ultimately saved AMS countless hours in their search for a new lender and significant fees from the incumbent bank . After completing our due diligence, we screened and qualified several lenders we knew to be appropriate for our client, at no cost. One consideration was that the Company wanted to work with a regional bank. Concord was able to leverage its relationship with a Chicago-based bank that was equipped to handle all of the loans requested and all of the cash management and treasury services for AMS. This bank liked the experience and expertise of the Company’s ownership / management team, and they were impressed by their customer base, core business model and recent improvements in performance.

Concord’s efficient and competitive process resulted in very favorable interest rates, deal structure and overall terms for our Client. The new financing through the bank provided AMS with the additional liquidity they needed for working capital and to finance growth.

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ARI Packaging, Inc.

$10,000,000 Revolving Line of Credit

$2,500,000 Equipment Term Loan

$2,500,000 CapEx Line of Credit

Refinance Existing Debt & Support Working Capital

ARI Packaging, Inc. (Advertising Resources Inc.) is a 17-year-old consumer packaging company headquartered in Alsip, Illinois, with three other locations in the U.S. Early this year, the company’s bank determined that they were no longer a suitable fit for their portfolio and asked them to secure a new lender.

Initially ARI Packaging searched for a new financing partner on its own. They met with 10 lenders and received two Term Sheets to consider. Neither offer was satisfactory to them. That’s when one of the lenders who respectfully declined the deal referred ARI Packaging to us.

We stepped in and ultimately saved ARI Packaging countless hours in their search for a new lender. After completing our due diligence, we screened and qualified several lenders we knew to be appropriate for our client. One consideration was that ARI Packaging wanted to work with a regional bank. We identified a Chicago-based bank that was equipped to handle the loans and all cash management and treasury services for ARI Packaging. This bank liked the experience and expertise of the company’s ownership/management team, and they were impressed by their customer base, core business model and recent improvements in performance.

The new financing through the bank provides ARI Packaging with the additional liquidity they need to purchase equipment and finance growth.

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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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BRM Holdings, LLC

$7,000,000 Senior Secured Revolving Line of Credit

Refinance Existing Debt & Provide Additional 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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CoreCentric Solutions

$6,000,000 Senior Secured Revolving Line of Credit

Refinance Existing Debt & Support Working Capital

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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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Henry F. Teichmann, Inc.

$8,000,000 Senior Secured Revolving Line of Credit

Refinance Existing Debt & Provide Additional 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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Intelligent Transportation Services Company

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

Refinance Existing Debt & Support Working Capital

Concord Financial Advisors, LLC closed a $9.68MM Deal, including: $7.0MM Revolving Line of Credit, $1.68MM Equipment Term Loan, $750K CapEx Line of Credit, and $250K Advance Term Loan, for AMS Group, Inc. (“Company”).

Our Client:

The Company is a leading innovator and provider of services and solutions for intelligent transportation systems in North America, and is one of the top four companies in their space in the U.S. Its parent company, a €575m public company headquartered in Europe, is one of the top three players in Europe, offering a comprehensive suite of technology solutions. The Company is a market leader in North America due to its cutting-edge stereoscopic capability and has a strong pipeline of new customers and projects. The Company is well positioned for growth in FY24 and beyond with a strong customer base and substantial pipeline.

The Engagement:

The Company’s North American team sought a lender to capitalize the Company with debt for tax and non-tax reasons. As a project-based company, it required a sufficient line of credit to fund operating needs and large multi-year projects, bridging the gap between upfront investments and project milestone payments.

The Concord Close:

Concord was able to help the team work through its options and find a seasoned lending partner. Concord drew on its experience to quickly identify the most appropriate lenders, and promptly sourced attractive proposals on behalf of the Company. Despite the Company’s under performance to budget the last three years, Concord was able to use its 100+ years of corporate finance experience, 95% success rate closing deals, and deep relationships with a wide spectrum of nationwide corporate financiers to arrange a creative and structurally favorable senior credit facility for the Company.

Concord introduced the Company to a leading ABL progress billings lender because of its understanding of the complexities of structuring and documenting the loan and advances, its expertise in lending against progress billings and other asset categories in the United States and Canada, and its scalable financing.

The Results:

A $20 Million asset based facility with the flexibility to support the Company’s growth plans. This external funding allows the region to manage its own equity investments in the Company, and provides financial resources using the Company’s assets in the United States and Canada to meet its ongoing capital needs.

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International Control Services, Inc.

$7,500,000 Senior Secured Revolving Line of Credit

Refinance Existing Debt & Support Working Capital

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Labriola

$3,630,000 Senior Secured Term Loan

Construction Financing & Working Capital for New Restaurant

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Land Acquisition

$6,000,000 Real Estate Mortgage
Closed in 35 Days

Land Acquisition

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Lanter Distributing LLC

$5,000,000 Senior Secured Credit Facilities

Refinance Existing Debt & Support Working Capital

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Leading Supplier of Specialty Resin

$7,500,000 Senior Secured Revolving Line of Credit

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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Luxury Jewelry Retailer

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

Refinance Existing Debt & Provide Additional Working Capital

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Manufacturer – Midwestern U.S.

$4,000,000 Senior Secured Revolving Line of Credit

$3,000,000 SBA 7A Real Estate Loan

SBA deal closed within 29 days of inception

Refinance Existing Debt & Support Working Capital

 

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Marketing Services Company

$14,800,000 Senior Credit Facilities

$5,000,000 Revolving Line of Credit

$3,600,000 SBA 504 Term Loan

$2,200,000 SBA 504 Term Loan

$1,200,000 SBA 504 Term Loan

$2,800,000 SBA 7a Term Loan

Refinance Existing Debt & Support Working Capital

The Company, a family-owned marketing services and printing business for over 50 years, expanded and reinvented itself several times to keep pace with technology and buyers’ demands. Today, it is a full-service marketing company offering print production, advertising/creative services, and inventory/fulfillment. Their clients include educational institutions, restaurants, sports and entertainment companies, health and medical companies, and more.

In 2015, the Company invested in an extensive renovation of their facility. Soon after, they lost substantial revenues from an unexpected loss of clients and reduction in orders from other clients. The combination of these factors changed the Company’s financial picture dramatically. As a result, the Company’s bank asked them to secure a new lender due to past due payables, increased leverage, declining earnings and a $2.0MM over-advance in the loan structure.

After several lenders declined the Company’s request for financing, the incumbent bank referred the Company to Concord for debt advisory assistance. Our due diligence and assessment of the Company revealed that an SBA loan structure was the best and only way to successfully meet our Client’s objectives. They needed the highest level of liquidity in order to cover the “airball” at the incumbent bank. They also needed to extend the amortization of the Term Loans beyond the traditional 5 years that most lenders offer in order to improve debt service coverage.

Knowing that our Client preferred a local, full service bank with SBA loan products, we conducted an in-depth, targeted search among our network of lenders and screened key ABL Lenders and select SBA Lenders. We contacted one of our preferred Community Banks who was familiar with the Company and impressed by the Company’s resilience, management team, industry expertise and recent financial performance improvement. We were able to successfully arrange four SBA Loans and a Revolving Line of Credit from the one Community Bank and an Illinois-based CDC and pay off the incumbent bank 100%, including covering the $2.0MM over-advance. And our Client had over $1.5MM of excess liquidity at closing to finance additional growth after paying off past due payables.

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Midwest Lighting Company

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

Refinance Existing Debt & Support Working Capital

 

 

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Midwest Specialty Pipe Manufacturer

$18,000,000 Senior Secured Revolving Line of Credit

Refinance Existing Debt & Support Working Capital

 

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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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The O’Gara Group

$21,000,000 Senior Secured Revolving Line of Credit

Refinance Existing Debt & Support Working Capital

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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 lenders, 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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Purr-Ferred PetFood

$12,000,000 Deal
$10,000,000 Senior Secured Revolving Line of Credit plus $2,000,000 pre-approved accordion increase
Closed within 45 Days

To Refinance Existing Debt & Provide Additional Working Capital

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Refurbisher of Mobile Devices

$25,000,000 Deal
$18,000,000 Senior Secured Revolving Line of Credit plus $7,000,000 Accordion

To Refinance Existing Debt & Support Working Capital

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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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Sivyer Steel Corporation

$14,500,000 363 Bankruptcy Sale

Based in Bettendorf, Iowa, Sivyer Steel Corporation is a domestic foundry, providing steel castings to manufacturers of industrial equipment primarily in the mining, oil & gas, military and passenger rail industries. The specialty steel foundry industry is cyclical, and Sivyer has been impacted by market related swings throughout its 100+ year history. An unexpected market downturn began in 2014 causing a decrease in demand in nearly all of the Company’s end markets. This decline was also more prolonged than previous contractions. The Company’s lender eventually declared a default and the parties entered into a forbearance agreement. The Lender subsequently hired a turnaround consulting firm to prepare a liquidation analysis of the Company, and the forbearance agreement was extended to permit the Company to retain Concord Financial Advisors, LLC to refinance the lender’s obligations. However, it was concluded that the sale of Sivyer as a going concern was the best option and Concord convinced the Bank to remain in an over-advanced situation to fund working capital during the process.

Concord led the preparation of financial due diligence for potential investors by way of a secure data room. Concord immediately assessed the situation and ran a comprehensive sale process to find alternative buyers for the distressed business. Sivyer eventually filed for Voluntary Bankruptcy under Chapter 11 to protect itself from creditors. The most favorable proposal was made by a family office, based in Iowa, who acquired the Company out of a 363 Bankruptcy Sale for $14.5 million. The buyer proved to be a value-added equity partner providing a permanent capital solution. As a result of the team’s efforts, a fundamentally sound but distressed company was restructured with over 200 jobs being retained. The Lender recovered substantially more than it would have realized in a straight liquidation.

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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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Summit Golf Brands, Inc.

$15,000,000 Senior Secured Revolving Line of Credit

Refinance Existing Debt & Provide Additional 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 lenders, Concord Financial Advisors 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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II In One Contractors, Inc.

$3,750,000 Senior Secured Credit Facilities

$3,500,000 Revolving Line of Credit

$250,000 Term Loan

Support Working Capital Needs and Growth

Concord Financial Advisors, LLC closed a $3,500,000 Senior Secured Revolving Line of Credit and $250,000 Term Loan for II In One Contractors, Inc. (“Company”) located in Chicago, IL. The Company specializes in carpentry, excavation, form and place concrete, masonry, reinforcement steel placement and structural steel erection.

Concord created a detailed memorandum featuring the Company’s seasoned management team and its industry position as one of Chicago’s leading minority-owned contractors. Utilizing Concord’s 100+ years of collective corporate finance experience and strong relationships with multiple lenders, Concord quickly identified qualified banks and other financial institutions that were knowledgeable in the industry.

After conducting a targeted search process for local banks who understand the industry, Concord secured a very attractive loan structure from a local bank that met all of the Company’s financing objectives.

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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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