Accord Equipment Finance (AEF) closed an $8.5M lease facility for a PEG-owned manufacturing firm. The company had faced numerous growth concerns including a plant consolidation requiring new capital equipment and a high demand product line.
Accord Equipment Finance worked closely with management and its PEG sponsor to navigate through and structure the lease line of credit. A 6-month delay draw feature allowed the company to order and fund equipment in a timely and efficient manner—all without exhausting its working capital or interfering with their senior secured credit facilities.
“Developing relationships with private equity owners who trust our approach to providing capital has been an important part of our success for over 20 years. Furthermore, serving both PEG owners and management gives AEF an opportunity to react quickly to unexpected news and support our clients,” stated Jeffry Pfeffer, President, Accord Equipment Finance. “We are proud to have helped this repeat private equity client with one of their newer portfolio company’s growth capital needs.”
About Accord Equipment Finance
Accord Equipment Finance provides equipment finance and term debt solutions to middle-market companies seeking growth and liquidity. Accord Equipment Finance invests between $500,000 and $20M across manufacturing, distribution, technology, energy, and healthcare sectors throughout the U.S. and Canada. With leading-edge technology and quick turnaround, Accord Equipment Finance’s experienced management brings value to every transaction. For more information, visit www.accordfinancial.com.