ATLANTA--(EON: Enhanced Online News)--First Capital, a specialized commercial finance company, announced it has provided an $18 million working capital facility to a distributor of auto parts. The senior credit facility consists of an $18 million working capital revolver collateralized by accounts receivable and inventory. First Capital was selected as the working capital partner based on its willingness to provide working capital with a flexible loan structure while the company works on its turnaround strategy. The company has been working with Huron Consulting Group to complete its transition.
“We needed to find a lender that would be able to provide the flexible financing the company needed to carry out their plans”
“The company is in the process of implementing a new strategy to handle the recent recession in the auto industry,” stated Nick McDearis, Business Development Officer. “We took a good look at the company’s management and their growth plan and feel they are in a good place for a full recovery.”
“We needed to find a lender that would be able to provide the flexible financing the company needed to carry out their plans,” stated David Bitterman, Managing Director at Huron Consulting Group. “The First Capital team worked hard to understand our client’s business and how to best create a new loan package that would handle the company’s current and future working capital needs.”
This transaction was referred to Nick McDearis and will be serviced by First Capital’s ABL Eastern Region. For further information relating to this deal or for working capital financing solutions in the Eastern region, please contact Mr. McDearis at 678-594-5918.
About First Capital
First Capital provides working capital financing typically ranging from $2 million to $20 million primarily to small and middle-market entrepreneurs with annual sales ranging from $10 million to $250 million. Credit facilities are in the form of Asset-Based Loans or Factoring arrangements. First Capital is one of the largest independent Asset-Based working capital lenders in the United States. Headquartered in New York City, the firm has additional market offices in Atlanta, Boynton Beach, Chicago, Los Angeles, and Oklahoma City with sales offices located across the United States. For more information, please visit www.firstcapital.com.
About Huron Consulting Group’s Financial Consulting Practice
Huron provides financial advisory, restructuring and turnaround, interim management, valuation, forensic and litigation, and operational improvement consulting services to companies in transition, boards of directors and investors and lenders. Our consultants provide senior level involvement and extensive industry experience to drive results. Our experienced leadership, management depth and flexible staffing model allow us to efficiently lead projects ranging from middle market to large company assignments. Learn more at www.huronconsultinggroup.com/financial or connect with us on LinkedIn at www.linkedin.com/company/HuronConsulting.