Dynatronics Corporation (NASDAQ: DYNT) is a leading manufacturer of athletic training, physical therapy, and rehabilitation products. When the company decided to strengthen its operational and financial flexibility, the team approached Gibraltar, a non-bank asset-based lender, for a more flexible working capital facility.
Gibraltar delivered additional liquidity and flexibility to Dynatronics through a creatively structured $7.5MM line of credit that includes higher than average advances against certain assets and consideration for typically ineligible asset classes. The new facility also incorporates more flexible covenant provisions, enabling the company more capacity to be opportunistic.
Brian Baker, President, and Chief Operating Officer, commented, “Over the past few years, Dynatronics has made substantial progress to optimize its cost structure and strengthen its balance sheet. With a solid foundation now in place, the closing of this credit facility provides operational and financial flexibility as we execute our operational plans in today’s market conditions.”
Building and sustaining a successful manufacturing business can mean facing a variety of unique challenges, any one of which can disrupt cash flow or require a capital investment. At Gibraltar, we’ve been helping manufacturers survive difficult transitions and become leaders in their industry for decades. Reach out today to learn more or visit us at www.gibraltarbc.com.
About Dynatronics Corporation
Dynatronics is a leading medical device company committed to providing high-quality restorative products designed to accelerate achieving optimal health. The Company designs, manufactures, and sells a broad range of products for clinical use in physical therapy, rehabilitation, pain management, and athletic training. Through its distribution channels, Dynatronics markets and sells to orthopedists, physical therapists, chiropractors, athletic trainers, sports medicine practitioners, clinics, and hospitals. The Company’s products are marketed under a portfolio of high-quality, well-known industry brands including Bird & Cronin®, Solaris™, Hausmann®, Physician’s Choice®, and PROTEAM™, among others. More information is available at www.dynatronics.com.