A new company that acquired the assets in place from an idled paper manufacturer was in need of a financing partner to support its rapid sales growth after relaunching operations. Gibraltar’s leadership stayed true to its core mission of providing access to working capital during periods of transition.
Willamette Falls Paper Company, an Oregon-based independent manufacturer that utilizes sustainable and recycled fiber sources to produce coated freesheet, offset, envelope, packaging, and specialty papers, was on a solid growth trajectory and sought a financing partner for a $7.5 million asset-based loan. Columbia Ventures Corporation, a family office that manages a portfolio of public and private debt and equity securities serves as the financial sponsor for the company. Willamette Falls Paper Company is working toward being a leader in sustainable and innovative paper production made with agricultural and recycled fibers.
Gibraltar’s Flexible Approach Delivers Significant Liquidity Impact
Gibraltar provided the necessary liquidity to allow the company to continue funding its growth — driven by rapid sales demand. GBC was chosen because of its borrowing base creativity and ability to provide a $7.5M ABL without tying up all the company’s assets.
GBC’s commitment to connecting with local companies in the manufacturing industry has once again shown its ability to creatively structure loans to fit the needs of companies during various stages. In the case of Willamette Falls Paper Company, Gibraltar was willing to lend to a startup operation that had the backing of a strong financial sponsor. Typically, banks and other funding sources are too limited or restrictive in their approach to startup operations like Willamette Falls Paper Company. Gibraltar offered a financing partnership after listening to their needs and offering an innovative way to tailor a flexible capital solution that fit their distinct growth opportunities.
