Republic Business Credit Provides $4.5 million Facility to Aid Leveraged Buyout
Republic provides receivables purchase line of credit to assist acquisition of an iconic publishing company.
NEW ORLEANS, LA (PRWEB) OCTOBER 13, 2016 – Republic Business Credit provided a Texas Capital Sponsor with the working capital facility to complete the acquisition of a forty-year old iconic publication. Republic provided a $4.5 million receivables purchase line of credit to support the leveraged buyout and ongoing working capital.
Due to the constraints of the prior lender, the capital sponsor needed additional liquidity to implement their restructuring plan to realize the value of their acquisition. In addition to the line of credit, Republic provided a secured over advance to pay key vendors. Republic reacted quickly to approve the facility during the capital bidding process and funded the facility within thirty days of introduction by the Houston based Capital Provider.
“Our team responded with the necessary agility, adaptability and certainty to provide the correct solution for the capital sponsor,” said Robert Meyers, Republic’s Chief Commercial Officer. “Our aspiration is to support the growth plans of strong management teams while understanding the unique and non-traditional working capital needs that capital sponsors require.”
Republic Business Credit supports capital sponsors across the United States to create value, implement turnaround plans and grow successful businesses.