altar Business Capital provides $26.4MM in acquisition financing //
GBC, which has a strong reputation as a preferred ABL for sponsor-backed deals, has strengthened its relationship to a private equity firm that purchased an important North American supplement manufacturer.
GBC provided financing to Lion Equity Partners, an investment firm in Denver that specializes in corporate divestitures, special situations, and other financial transactions, for the purchase of Country Life, LLC. Country Life has a portfolio that includes brands such as Country Life Vitamins and Desert Essence Personal Care.
This transaction enabled Lion Equity Partners, to secure a senior credit facility of $26.4MM to support the acquisition. The company was able to continue to create value for the portfolio and its stakeholders.
Long-Standing Partner to Support Sponsored Transactions
GBC has partnered with Lion Equity on three occasions to support financial sponsors. This shows GBC’s ability to provide reliable assistance. The funding was secured primarily by accounts receivables, inventory, machines and equipment, and property, but included a overadvance in order to unlock additional liquidity for the transaction.
GBC’s ability to create a flexible financial covenant and a creative borrowing base is demonstrated by its long-standing relationship, as well as the uniqueness of the ABL it can provide through real estate assets.
Ari Silverman said, “As an established partner of Lion Equity Partners we knew GBC could move quickly to meet our needs and provide a certainty of closing.” “We’ve been consistently impressed by Gibraltar’s ability to think outside of the box and support liquidity needs using less restrictive structures,” said Ari Silverman, Co-Founder and Partner of Lion Equity Partners.
