Republic Provides a $2.75 million Facility to Texas Based Printing Company
August 15, 2019
August 15, 2019
Houston, TX – Republic Business Credit partnered with a leading turnaround consulting firm to support a 28-year-old commercial printing company that was being managed by a bank special assets group. Republic agreed to an inter-creditor with the incumbent lender in order to help reduce the pressure of the heavy debt burden and provide growth capital for the company to take on new customers. Republic was brought in by the turnaround consulting firm because of its leading reputation within the Turnaround Management Association and its ability to support corporate renewal efforts.
The printing company needed a partner that understood the complexities of an evolving industry as they worked to balance the conversion from print into digital product offerings. The company suffered a set back after an unsuccessful acquisition erased their cash flow from operations during their transformation. They needed a funding partner that could quickly work with several third parties to implement their growth plan.
Republic provided a $2.5 million Ledgered Line of Credit combined with a $250,000 Purchase Order finance facility to support their immediate refinancing needs while also enabling payments to their key suppliers to purchase new raw materials. The business and consulting firm had confidence that Republic will support its longer-term business needs without unnecessary covenants.
“The printing industry is consolidating and transforming at a rapid pace with the introduction of many digital requirements,” said Robert Meyers, President of Republic and President of the Turnaround Management Association’s Midwest Chapter. “As a commercial finance company, we are well-positioned to partner with companies during their change management and corporate renewal initiatives. We have strong relationships with banks, advisors, and accountants that trust us to provide restorative capital options.”
Republic Business Credit supports banks, investment banks, private equity, accountants, lawyers and consultants across the United States to create value, strengthen relationships and provide value creation services to successful growing businesses.