$2,500,000 A/R, Inventory & Over-Advance Facility
Private Equity Group Acquires Fuel Additive Manufacturer
This South Carolina company manufactures and distributes automotive stop-leak products. These products are in high demand, because consumers see them as a great alternative to paying for major vehicle repairs.
The owner of the company was semi-retired and not active in the business, but the company was profitable. A private equity group was interested in acquiring the fuel additive manufacturer, because they believed it had great potential, and with the right leadership, they could aggressively grow the business.
Accord was pleased to offer the acquiring group an accounts receivable purchase facility, over-advance facility, and a revolving inventory facility to support the acquisition. The owner of the private equity group has another portfolio company that is a client of Accord’s and has been doing business with us for several years. The owner knew Accord was the right financial partner, because of our superior client services and proactive approach to financing his acquisitions.