Amerisource Closes $4,500,000 Bridge Term Loan for Recreational Property
Houston, TX - March 22, 2023
Amerisource Business Capital announced the closing and funding of a $4,500,000 bridge term loan for a Pennsylvania-based family-operated recreational property. The proceeds were used to support the company’s seasonal operations, ongoing growth, and working capital needs.
Courtney Mark, Regional Market Manager for Amerisource, stated: “We are pleased to onboard this new client. We look forward to our partnership and the opportunity to support their future growth.”
Year In Review 2022
Houston, TX - February 13, 2023
“Despite uncertain market conditions and interest rate acceleration not seen in decades, we saw growth across our entire portfolio in 2022. We continued to focus on lower middle market opportunities in growth sectors underserved by traditional banks, and we expanded our bridge loan product and equity co-investment platform through partnerships with select private equity investors and independent sponsors. Amerisource’s continued success would not be possible without our client’s and referral partners’ support and confidence, and we are grateful for those partnerships. We expect another interesting (and likely volatile) 2023 but we’re looking forward to continued growth and expansion in our products, markets, and relationships.”
Amerisource Closes $3,000,000 Revolver for Independent Sponsor/Specialty Pumping Services Firm
Houston, TX - February 13, 2023
Amerisource Business Capital announced the closing and funding of a $3,000,000 asset-based revolver for a Texas-based specialty pumping services firm. The proceeds were used to support the company’s growth.
Bill Herrington, EVP of Amerisource stated, “We were happy to provide the capital needed to support this company’s growth objectives. We also have a particularly strong relationship with the independent sponsor on this transaction for both senior debt and equity co-investments, and we were pleased to be able to deliver a very flexible solution for them, which began with a bridge facility last year.” Andy Allaire, Senior Vice President for Amerisource, added: “The company is growing rapidly and we were pleased to quickly provide a working capital facility to fund their growth and expansion.”
Amerisource Closes $1,000,000 Working Capital Facility for Manufacturing Services
Houston, TX - January 27, 2023
Amerisource Business Capital announced the closing and funding of a $1,000,000 working capital facility for a Texas-based electronics manufacturer. The company had been a former client of Amerisource for over 20 years before moving its revolver to a commercial bank. The company’s recent expansion prompted moving its revolver back to Amerisource for greater availability and a more flexible financing structure to support the company’s accelerating growth.
Bill Herrington, EVP for Amerisource, stated: “We are pleased to partner with this returning client and look forward to supporting them through this significant growth period.”
Amerisource Closes $1,000,000 Bridge Loan for Electrical Services and Maintenance Firm
Houston, TX - January 6, 2023
Amerisource Business Capital announced the closing and funding of a $1,000,000 interim bridge loan facility for a Texas-based powerline construction services and maintenance firm. The proceeds were used to provide working capital to support the company’s rapid growth.
Allison Billings, Regional Market Manager for Amerisource, stated: “We are excited to partner with this company and look forward to supporting its continued growth ahead.” Bill Herrington, EVP of Amerisource added, “We approved, documented, and funded this loan in 48 hours with our bridge loan product which is designed to immediately address liquidity needs prior to putting a larger and permanent working capital facility in place.”
Amerisource Closes $1,000,000 Bridge Loan for Renewable Energy Services Firm
Houston, TX - January 6, 2023
Amerisource Business Capital announced the closing and funding of a $1,000,000 bridge loan facility for a Texas-based renewable energy services firm. The proceeds were used to support the company’s growth and working capital needs.
Allison Billings, Regional Market Manager for Amerisource, stated: “This newly established company is backed by a strong private equity group and seasoned management team.” Bill Herrington, EVP of Amerisource added, “We approved, documented, and funded this loan in 48 hours with our bridge loan product which is designed to immediately address liquidity needs prior to putting a larger and permanent working capital facility in place.”
Amerisource Closes $3,000,000 Working Capital Facility For Manufacturer
Houston, TX - January 6, 2023
Amerisource Business Capital announced the closing and funding of a $3,000,000 working capital facility for a Maryland-based manufacturer of hermetic packages, microelectronic housings, and assemblies. The proceeds were used to support the company’s growth and working capital needs.
Daniel Martinez, Regional Market Manager for Amerisource, stated: “Supply chain bottlenecks caused this manufacturer to restructure its working capital facility. We modified their credit structure to adapt to the client’s changing needs and provided maximum availability against all assets.”
Amerisource Closes $2,000,000 Term Facility for Craft Brewery
Houston, TX - November 4, 2022
Amerisource Business Capital announced the closing and funding of a $2,000,000 equipment term loan facility for a California-based craft beer brewery and distributor.
Randy Goeken, Regional Market Manager for Amerisource, stated: “We are pleased to onboard this new client. The Company needed to refinance its existing lender and re-leverage the equity in its equipment. The Amerisource term loan enabled multiple facilities to consolidate, providing a more efficient and cost-effective manufacturing and distribution operation. Amerisource worked closely with the management team to support the Company’s projected growth objectives. ”
Amerisource Closes $4,000,000 Senior Credit Facility for Energy Services Firm
Houston, TX - August 2, 2022
Amerisource Business Capital announced the closing and funding of a $4,000,000 senior credit facility for a Texas-based energy services firm. Following a recent merger, the proceeds were used to provide working capital for the company’s ongoing needs.
Allison Billings, Regional Market Manager for Amerisource, stated: “We were approached by the company’s Louisiana-based private equity sponsor and worked closely with them to underwrite and close this facility in a short timeframe. “ Bill Herrington, EVP of Amerisource added, “We are pleased to onboard this respected private equity sponsor and their portfolio company and look forward to supporting their continued growth.”
Amerisource Closes $3,500,000 Real Estate Term Facility for Electrical Services Firm
Houston, TX - July 29, 2022
Amerisource Business Capital announced the closing and funding of a $3,500,000 real estate term loan facility for a Texas-based electrical services firm. The proceeds were used to provide working capital for the company’s growth.
Daniel Martinez, Regional Market Manager for Amerisource, stated: “We are pleased to onboard this new client. We look forward to our partnership and supporting their future growth”
Amerisource Closes $10,000,000 Revolver & R.E Term Loan Facility for Manufacturing Firm
Houston, TX - July 26, 2022
Amerisource Business Capital announced the closing and funding of a $10,000,000 ABL revolver on A/R and inventory and a real estate term loan facility for a Wisconsin-based automotive, truck, and aerospace component part designer and manufacturer.
Andy Allaire, Senior Vice President for Amerisource, stated: “The company is experiencing a significant post COVID expansion which required an increase in working capital. We are excited to be working with this experienced management team and look forward to our continuing partnership”
Congratulations to the new ACG Houston board members, including Amerisource’s Bill Herrington.
Houston, TX - July 12, 2022
Amerisource Closes $2,000,000 Credit Facility for Logistics Firm
Houston, TX - June 27, 2022
Amerisource Business Capital announced the closing and funding of a $2,000,000 credit facility for a Texas based drayage trucking firm. The firm is expanding and the proceeds were used to provide working capital to support their growth.
Kelly Collins, Regional Market Manager for Amerisource, stated: “We are pleased to partner with this new client and look forward to supporting them during this critical growth period. ”
Amerisource Closes $1,000,000 Working Capital Facility for Distribution Firm
Houston, TX - June 27, 2022
Amerisource Business Capital announced the closing and funding of a $1,000,000 senior credit facility for a Pennsylvania-based automotive supply distribution firm. The firm is experiencing a period of rapid growth necessitating the need for working capital financing.
Andy Allaire, Senior Vice President for Amerisource, stated: “The entrepreneur who started the firm has extensive experience in the automotive supply business. We are happy to be partnering with him and providing the necessary working capital.”
Amerisource Expands Team with New Appointment
Houston, TX - June 6, 2022
Amerisource Business Capital announced the recent appointment of Courtney Mark as Regional Market Manager. Based in Salt Lake City, Utah, Courtney joins Amerisource with over 28 years of experience in commercial finance and asset based lending, covering markets in Arizona, California, Colorado, Nevada, and Utah. His business development efforts will continue to be focused on these Intermountain states. For the past 23 years, he has worked in the specialty lending divisions for Wells Fargo Bank and UMB Bank. Prior to that, his experience includes GE Capital.
Bill Herrington, EVP for Amerisource, stated: “Courtney’s deep experience in commercial finance is a tremendous asset and a great fit for our team. We look forward to deploying his skills to serve our clients and referral sources throughout the Intermountain states.”
Amerisource Closes $1,000,000 Credit Facility for Technology Firm
Houston, TX - May 19, 2022
Amerisource Business Capital announced the closing and funding of a $1,000,000 credit facility for a Maryland based data solutions firm. The proceeds were used to provide working capital for the company’s rapid growth.
Allison Billings, Regional Market Manager for Amerisource, stated: “We are excited to partner with this fast-growing company and its respected private equity sponsor.” Bill Herrington, EVP of Amerisource, added, “Based on the strength of the client’s signed contracts and its software and hardware platform, we were able to extend a term facility under our SAAS term loan product. ”
Amerisource Closes $10,000,000 Credit Facility for Instrumentation Firm
Houston, TX - May 19, 2022
Amerisource Business Capital announced the closing and funding of a $10,000,000 credit facility for a Texas based design, engineering, and manufacturing firm. The proceeds were used to provide working capital for the company’s expected growth.
Joseph Petri, Regional Market Manager for Amerisource, stated: “For more than four decades, this company has set the standard for engineering and manufacturing of instrumentation.” Bill Herrington, EVP of Amerisource added, “We partnered with a commercial bank to deliver a structure which included leveraging the real estate, equipment and working capital assets of the company. We are looking forward to working with this excellent management team.”
Amerisource Closes $1,500,000 Credit Facility for Food Manufacturer
Houston, TX - May 19, 2022
Amerisource Business Capital announced the closing and funding of a $1,500,000 credit facility for a New York based cookie and dessert production firm. The proceeds were used to provide working capital for the company’s expected growth.
Andy Allaire, Senior Vice President for Amerisource, stated: “An independent sponsor acquired this family run business and Amerisource provided an ABL solution to finance the working capital. We were pleased to be able to provide a financing package to facilitate the growth of the business.”
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