Northeast Staffing Agency acquiring another entity in the same industry.
Client was seeking acquisition financing and had been working with an asset based lender to finance the acquisition. The proposed asset based lender was procrastinating and the client was at risk of losing the opportunity to acquire the target company.
Client needed financing in less than two weeks in order to keep the deal alive until they could close an asset based loan at a later date.
Within two weeks, Prestige was able to provide the financing needed to acquire the company and structured a bridge facility allowing client to graduate to ABL in 3 months.
East Coast electronics distributor with $3 million in annual sales.
The distributor was an existing client of Prestige Capital and its management team was well known to Prestige. The Client’s owners made the strategic decision to focus their attention on other core businesses and wanted to divest the electronics distributor.
Client’s senior management team approached Prestige to fund a management buyout.
Within three business days, Prestige refinanced the existing facility for the newly acquired company with the new ownership group.