To better manage its significant backlog of business, PCX needed to invest in new capital assets, increasing capacity and efficiencies. PCX turned to CapX for a $5.25 million lease line of credit to fund the acquisition of several CNC machines at its Newington, CT plant. By using CapX's equipment lease product featuring 100% advance rates, PCX preserved liquidity with its bank group and diversified its funding sources.
"Known in the industry as a manufacturer of complex parts with tight tolerances, PCX has long-term relationships with blue chip customers. We were delighted to step in with our capital in support of RFE Investment Partners and PCX as the company pursues its growth strategy. We look forward to increasing our support to PCX for future growth needs," stated Steve Healey, Managing Director at CapX Partners.