In the nine months since COVID-19 was declared a pandemic, Gibraltar Business Capital has remained committed to providing access to flexible, reliable and fast capital — closing 12 transactions and $130.5 million in new commitments.
The Gibraltar team’s breadth of expertise and ability to help companies navigate alternative financing options amid unprecedented challenges has been particularly evident during this time.
Credit facilities ranged from $4MM to $20MM and were utilized to support refinances, growth, acquisitions, and recapitalizations. The growth in individual facility sizes reflects Gibraltar’s continued, successful shift upstream towards supporting companies with increased liquidity and working capital needs.
Businesses supported were diverse in their operations ranging from lighting services to consumer products manufacturing to injection molding. Within the working capital-intensive manufacturing industry, the range of product production supported was equally diverse. This included power systems, furniture, consumer products, LED video, metal and steel, and paper. There were even circumstances in which companies looked to Gibraltar for support expanding manufacturing activities to capture demand for new products, like hand sanitizer, caused by the pandemic. Visit Gibraltar’s website to read the specific financing case studies and learn more.
Despite the size and complexity of many of these transactions, and the work challenges created by the pandemic, many transactions closed and funded in record time – enabling our partners to meet their needs for quick, reliable capital. The Gibraltar team demonstrated their expertise and creativity in meeting these tight timelines, offering flexibility in pre and post close requirements as needed.
The number and types of funded transactions in collaboration with and support of financial sponsor partners, which comprise half of the deals closed during this period, further solidify Gibraltar’s position as the preferred ABL partner to private equity. Gibraltar continues to serve financial sponsor partners by delivering on speed to close, borrowing base creativity, best in class service, and access to top industry talent.
If you’d like to learn more about any of these individual transactions or discuss a current need for flexible, swift, and reliable capital, reach out to your regional business development representative today.