$4,000,000 A/R, Inventory, Machinery & Equipment Facility
Turnaround & Growth for Private Equity Held Window & Door Manufacturer
This company introduced America to the first custom-vinyl window replacement in the 1960’s, and have been in business for over 50 years. They manufacture an extensive line of high quality, ENERGY STAR® qualified vinyl replacement windows and patio doors that help millions of homeowners to live more comfortably while saving money on their heating and cooling bills.
A private equity group that previously financed through Accord owns this Pennsylvania-based company, which was facing issues due to lack of financial data upkeep, as well as no changes to operation systems or product lines in the last 20 years. The management team was looking to implement steps to turn the business around, such as necessary changes to the product line, updating the operating systems and revamping its financial reporting processes.
Accord was happy to deliver another solution to this private equity firm. A factoring facility—advancing 85% of the top-ten A/R balances—allowed the company to capitalize on sales opportunities. Accord also provided a comprehensive solution by funding an inventory facility, as well as a machinery and equipment term loan to support turnaround, growth, and expansion plans.