Newsroom
$2MM Finance Allows Canadian Manufacturer to Achieve Acquisition Goal
Sallyport commercial finance are delighted to announce a total fund of $2MM to a Canadian manufacturer of home improvement products based in New Brunswick.
Referred to Sallyport by one of Canada’s top 3 commercial banks, the client had identified a strategic opportunity to acquire a complementary business, whose parent company was already going through a process of restructuring under the Companies’ Creditor Arrangement Act (“CCAA”).
Sallyport were chosen for their ability to act quickly and propose a combination of different products to meet the clients’ exact needs, consisting of an accounts receivable financing facility, an inventory revolver and a term loan secured by equipment. A financial solution ensued that enables the client to grow their number of retail stores to 6 and manufacturing facilities to 3 and expedite their group revenue to $75MM.
Calum Williamson, MD for Sallyport expanded;
“Turning around this facility in 4 weeks was a great team effort, both by Sallyport and the client. They are poised for real growth and we look forward to helping them achieve it.”
Sallyport’s new client commented;
“We chose to partner with Sallyport as they understood the process of a company being purchased out of receivership. They were able to structure the deal with different lending options on all assets, and most importantly realized the need to close the deal as quickly as possible. Working together, both my team and the team at Sallyport managed to achieve the deadlines required which was a remarkable result for everyone. We look forward to a long and prosperous relationship with our financial partner – Sallyport Commercial Finance.”
Search
News
$500K Boost: Sallyport Helps Meat Processor Thrive
At Sallyport, we believe in fueling the ambitions of business owners with the financial support they need to thrive. We’re…
Read More$1,750,000 to Keep Oilfield Businesses Flowing
At Sallyport, we’re committed to helping businesses overcome cash flow challenges and achieve their long-term goals. We’re excited to announce…
Read MoreArticles
Could Trade Credit Insurance Save Your Business?
Trade credit insurance or accounts receivable insurance is a type of corporate insurance policy within the Property and Casualty business…
Read MoreApparel Purchase Order Financing – Perfectly Coordinated Funding
The apparel industry has many nuances, cash flow constraints being one of the most significant and challenging. Long delays between…
Read MoreVideos
The Most Financial Time of the Year
Sallyport commercial finance’s Annual Holiday Music Video!
View Now