In 2023, the Gibraltar team strengthened our commitment to helping middle-market businesses unlock fast access to reliable, flexible working capital solutions through three key initiatives:
- Leadership: Bolstered our senior leadership team and expanded our breadth of industry veterans, including naming Jim Marasco Head of Originations.
- Partnerships: Strengthened our position with the private equity community to support businesses of larger sizes, industries, and diverse capital needs.
- Innovation: Launched a new business venture in equipment lending, Gibraltar Equipment Finance, led by industry veteran Jeffry Pfeffer.
Heading into 2024, our robust growth has equipped us even further to provide businesses and their financial sponsors access to the capital they need to grow, prosper, maximize opportunities, and weather unexpected storms. Before we turn the page to 2024, we’ve recapped the top five headlines that stood out in an excellent year for Gibraltar Business Capital.
Jim Marasco Named Head of Originations for GBC
Jim Marasco, a widely respected senior executive leader who served on GBC’s Board of Directors, joined the GBC leadership team as Head of Originations. Jim has extensive experience working with distressed, turnaround, and special situation credits across various industries and financial sponsors. Jim also possesses deep expertise in all aspects of secured and asset-based lending, leveraged finance, transaction sourcing, and portfolio management.
Lending Veteran Joins as SVP and Underwriting Manager
On the heels of bringing on Jim Marasco as Head of Originations to position the organization for growth further, GBC hired S.N. Thomas, a lending expert with 25+ years’ experience, as an SVP and Underwriting Manager. S.N.’s addition to the GBC credit team exemplifies Gibraltar’s commitment to continually invest in strategies and people to drive growth and innovation.
GBC Secures Expanded Line of Credit Led by Bank of America
We expanded our lending relationships with industry-leading financial services organizations that help us serve more businesses. This included an increased line of credit with a bank group led by Bank of America. Expanding our financing levels to serve companies with greater capital needs has allowed us to deliver new opportunities for businesses across numerous industries, including as they scale beyond their initial touchpoint with the GBC team.
Gibraltar Equipment Finance Launches
In 2023, we launched Gibraltar Equipment Finance (GEF), which provides equipment loans and leases from $1 to $20 million to support middle-market company growth and special situations. Led by equipment finance industry veteran Jeffry Pfeffer, GEF focuses on mission-critical machinery and equipment asset financing across diverse industries. GEF complements GBC’s offering in the non-bank asset-based lending marketplace.
Following some early funding success and activity, GEF expanded its Originations team with the addition of Steve Sanders, who took over in the East region as SVP of Business Development.
For more information on GEF’s funding activity, team, and offerings, visit www.gibraltaref.com.
Record Funding Activity in 2023
GBC continued to grow and evolve this year, achieving new levels of funding activity powered by a boost in the number and size of diverse deals closed. Our strong relationships across the advisor community fueled much of our growth, including our relationships with financial sponsors. One of these transactions was recognized by the abfjournal in its 2023 Deal of the Year listings: $26.4MM for Lion Equity Partners to support the acquisition of Country Life. Our website’s case study page shares more details on the individual transactions contributing to this year’s growth.
It was an excellent year for Gibraltar Business Capital and Gibraltar Equipment Finance. We are grateful to all those who contributed and partnered with us along the way, especially to our employees, who are the best in the industry and one of the many keys to our success. We look forward to continued momentum and partnership in 2024.
As you finalize your 2024 strategic plans, don’t hesitate to contact our expert sales team if you’d like to explore your financing options.