$5,000,000 Accounts Receivable Growth Capital Facility
Private Equity Group Helps Return Oil & Gas Industry Supplier to Profitability
This Texas-based company manufactures and distributes tanks and vessels directly to oil and gas industry companies.
In 2014, two competing manufacturing companies were acquired and consolidated into one company by a strong group of investors. The acquisition was led by a private equity group that manages the operations of the newly combined company. Since the merger, the company experienced excessive losses due to a decline in oil prices and unforeseen equipment failures.
Accord met the company’s needs by providing a notification, ledger, recourse accounts receivable growth capital facility. This created liquidity and allotted the company the position to capitalize on the upswing in the oil industry. The company is on track to become profitable for the first time since 2014.