Year-to-Date Review 2023
Houston, TX - October 12, 2023
Amerisource Closes $10,000,000 Working Capital Facility for Manufacturing & Distribution Firm.
Houston, TX - September 8, 2023
Amerisource Business Capital announced the closing and funding of a $10,000,000 working capital facility for a Texas-based manufacturer and distributor of industrial chemicals. The proceeds were used to support the company’s ongoing growth. Randy Goeken, Market Manager for Amerisource, stated: “The client’s accounting and finance departments worked well with our team at Amerisource to get this transaction rapidly completed.”
Bill Herrington, EVP, Amerisource, added: “The structure includes a $5 million real estate accordion feature, increasing the transaction total to $15 million when exercised.”
Amerisource Closes $1,000,000 Working Capital Facility and Equity Co-Investment for Software Firm
Houston, TX - September 8, 2023
Amerisource Business Capital announced the closing and funding of a $1,000,000 working capital facility and Equity Co-Investment for a Texas-based technology platform for moving and transportation services. The proceeds were used to provide working capital to support expected rapid growth.
Allison Billings, Market Manager for Amerisource, stated: “We are excited to partner with this private equity group on another transaction. We structured a facility to replace a high-cost factoring relationship using our revolving borrowing base structure.” Bill Herrington, EVP of Amerisource added, “We were pleased to provide both debt and equity to this growing company and dynamic management team.”
Amerisource Closes $2,000,000 Working Capital Facility for Manufacturing Company.
Houston, TX - September 6, 2023
Amerisource Business Capital announced the closing and funding of a $2,000,000 working capital facility for a California-based manufacturer and distributor of designer bathroom vanity units, sinks, toilets, and bidets. The proceeds were used to provide ongoing working capital and to support future growth.
Randy Goeken, Market Manager for Amerisource, stated: “The company’s bank was unwilling to finance their recovery post-Covid. We look forward to supporting their growth and increased working capital needs with our flexible line of credit.”
Amerisource Primary Donor to Kindergarten in Uganda
Houston, TX - August 30, 2023
This past July Amerisource sent a team to Uganda for the dedication of a kindergarten primarily sponsored by Amerisource. The team included Amerisource director Jason Floyd, his daughter Audrey, and pastors Brad Pembleton (husband of Tanya, who is a long-time Amerisource team member,) and pastor Aaron Edwards (who teaches Enneagram classes at Amerisource.)
In addition to the opening of the new kindergarten in rural Minana, the team visited one of two Survival Centers sponsored by Amerisource for pre and post-natal mothers and their infants. At the Survival Center, the team distributed several suitcases full of new infant and children’s clothing purchased by the employees of Amerisource. The team also handed out over 150 new school shoes to children in Minana and the slums of Kampala. Needless to say, the team was busy!
Amerisource Participated in a Common Equity Raise
Houston, TX - August 16, 2023
In June 2023, Amerisource participated in an equity co-investment in a common equity raise for Monarch Resource Partners LLC (“Monarch”). Monarch provides zero-emission natural gas contract compression services with its electric drive EcoFlex™ compressor fleet.
The Company’s EcoFlex™ fleet now serves several of the largest operators in the Permian and Eagleford Basins. Brett Schubert, President and CEO, stated, “Our EcoFlex™ fleet provides customers with numerous benefits including an ESG compression alternative that eliminates greenhouse gas (GHG) emissions of a traditional gas-drive compression package.”
Bill Herrington - EVP, Amerisource, added, “We were pleased to add the Monarch investment to our emerging private equity investment portfolio. The Monarch team has developed an innovative product that supports the critical natural gas industry in a cleaner, environmentally friendly process.” www.amerisource.us.com
Amerisource Closes $10,000,000 Credit Facility for Green Waste Disposal Company
Houston, TX - August 14, 2023
Amerisource Business Capital announced the closing and funding of a $10,000,000 senior revolving credit facility and real estate term loan for a Florida-based green waste disposal company. The proceeds were used to refinance existing bank debt and to provide ongoing working capital.
Andy Allaire, Senior Vice President for Amerisource, stated: “We were able to structure a revolver and term facility to refinance existing bank debt and to provide additional working capital to support anticipated growth.” Bill Herrington, EVP of Amerisource, added: “Amerisource was pleased to provide the necessary financing to an innovative and environmentally focused firm and its respected private equity sponsor.”
Amerisource Closes $10,000,000 Senior Credit Facility for Industrial Services Firm
Houston, TX - July 12, 2023
Amerisource Business Capital announced the closing and funding of a $10,000,000 senior credit facility for a Texas-based industrial, environmental, and mechanical services firm.
Allison Billings, Market Manager for Amerisource, stated: “The company was in a factoring relationship and was looking to replace it with a more traditional revolving line of credit structure, to maximize availability in preparation for anticipated growth. We are excited to welcome them to our team.” Bill Herrington, EVP of Amerisource, added “Our traditional revolving ABL line of credit product allows companies to graduate beyond cumbersome factoring structures but with greater flexibility than traditional banks. Our solution greatly reduced the administrative burden on the client, while increasing availability.”
Amerisource Closes $15,000,000 Working Capital Facility for Labor Solutions Provider
Houston, TX - July 5, 2023
Amerisource Business Capital announced the closing and funding of a $15,000,000 working capital facility for a Texas-based labor solutions provider serving the manufacturing, warehousing, and logistics industries. The proceeds were used to support the company’s ongoing growth and expansion.
Joseph Petri, Market Manager for Amerisource, stated: “We are excited to assist this company as they grow and expand their services. We look forward to their continued success.” Bill Herrington, EVP of Amerisource added, “this private equity-backed marketplace company is providing on-demand labor for managers who require flexibility when dealing with changes in demand. We are excited to partner with this innovative management team.”
Amerisource Closes $3,000,000 Senior Credit Facility for Information Technology Services
Houston, TX - June 6, 2023
Amerisource Business Capital announced the closing and funding of a $3,000,000 senior credit facility for a Texas-based information technology services provider serving the construction industry. The proceeds were used to support the company’s ongoing growth and working capital needs.
Allison Billings, Market Manager for Amerisource, stated: “The management team was a pleasure to work with during the onboarding process. We refinanced two high-interest loans into one senior credit facility and closed in three weeks. We look forward to supporting their continued growth.”
Amerisource Closes $2,000,000 Senior Credit Facility for Food Production Firm
Houston, TX - May 8, 2023
Amerisource Business Capital announced the closing and funding of a $2,000,000 senior credit facility for a New York-based commercial bakery, providing private-label baked goods to retail and institutional users. The proceeds were used to fund growth and ongoing operations.
Andy Allaire, Senior Vice President for Amerisource, stated: “An Independent Sponsor capitalized the business and they are ramping up production. They required a flexible asset based revolver to fund growth. We are pleased to onboard this new client and look forward to our partnership and the opportunity to support their future growth.”
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.”
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