SG Credit Partners Provides $1.0MM Second Lien Bridge Loan to Independent Registered Investment Advisor
The Company: Privately held independent registered investment advisor (RIA) that provides wealth, asset, and business management services to high-net-worth individuals and families. The Company has a variety of unique services not typical of traditional RIAs including access to alternative investments. Assets Under Management: $300MM+ The Financing Situation: The Company was experiencing rapid growth in AUM and planned to go to...
The Company: A newly formed pharmaceutical company setup specifically to acquire, promote, and sell four prescription pharmaceutical products. The Financing Situation: Before SG became involved, the Company had agreed to purchase four prescription pharmaceutical products using debt financing with an alternative lender. Due to capital raising issues, this lender defaulted on its financing obligation, which eroded the seller’s confidence...
The Company: A single-asset real estate holding company operating as a subsidiary of a broader multi-family / student housing real estate syndication portfolio. The Financing Situation: The Company needed capital quickly to execute on additional portfolio purchases and support working capital at the parent level, where COVID-19 restrictions had temporarily affected occupancy rates at some of the student housing assets. The Solution: Although...
The Company: Privately owned consumer debt collection agency. The Financing Situation: The Company needed capital quickly to move on opportunistic portfolio purchases as well as working capital cushion while collection curves ramped up. The Solution: SG was able to quickly get comfortable with the transaction due to the value of dedicated portfolio collateral as well as a strong personal guaranty from the owner. SG worked quickly to...
The Company: Full-service mechanical contractor located in the Midwest that provides HVAC, plumbing/piping, and other mechanical services to the commercial and industrial/manufacturing sectors. Revenue: $90 MM | EBITDA: $5 MM. The Financing Situation: The Company recently raised capital from a private equity sponsor that has invested in several construction services businesses. The new ownership group wanted to refinance its existing...
The Company: Provider of IT managed services and cloud collaboration solutions. The Company’s management team owns corporate real estate held in a LLC outside of the Company. The Financing Situation: The Company was in need of upfront working capital for new contracts, but did not have availability on its bank ABL. The bank ABL had recently closed its credit facility and was not able to provide additional financing until there was a...
The Company: Industrial recycling company that sells processed and unprocessed materials to domestic and international mills, foundries, and other material processors. Ownership: Family-owned. Financial Profile: $40 million of revenue. The Financing Situation: Management was exploring a sale of the Company and needed additional working capital beyond the availability on their asset-based credit facility. SG was approached by the Company’s...
The Company: Cloud-based media monitoring and intelligence platform with contracted, recurring revenue. Revenue: $15mm | EBITDA: $1.5mm | Equity Raised: $10mm The Financing Situation: The Company had a line of credit as well as a term loan in place with a Bank. Due to lender fatigue and technical default (financial covenant compliance) the Bank wanted to exit the credit. The Solution: Super G was able to get comfortable with the business...
The Company: Privately owned portfolio of commercial and residential real estate. Total portfolio value: $300 million. The Financing Situation: Successful retail entrepreneur diversified his wealth into real estate. While the Company was in the process of selling several large commercial real estate properties in California for liquidity, there was a working capital need to cover operating costs until the transactions closed. The Solution: Super...
The Company: Venture-backed SaaS provider for content management and digital publishing. Revenue: $8mm | Equity Raised: $22mm The Financing Situation: The Company was placed in the Bank’s special assets division due to a covenant violation. Although the Company continued to perform, the Bank wanted to exit the credit. Super G was brought in to offboard the client and provide additional working capital. The Solution: Super G was able to...