Wintrust Business Credit closed a new $15 million ABL line of credit for a Southeast-headquartered aerospace distribution business with subsidiaries from the Southwest to the Northeast. The company supplies fasteners and other products to tier-1 suppliers and aerospace OEMs domestically and abroad.
Management made their first investment into the new platform in late 2021 with a strategic plan to acquire similarly positioned companies and become a formidable player in their industry. Two additional acquisitions were made during 2023. As a result, the company needed to consolidate and increase the size of its line of credit to assist with its growing working capital financing needs. Wintrust provided a line designed to support the company for the next several years.
“This management team is second to none; they’re in the early stages of executing a well-developed strategy,” Andy Hall, national portfolio manager of Wintrust Business Credit, said. “We look forward to supporting organic growth and acquisitions and have provided a working capital facility to expand operations for years to come seamlessly.”
“WBC’s nimbleness and commitment to supporting our client’s growth plan was paramount to winning this relationship,” Joe Panico, senior vice president of business development at Wintrust Business Credit, said. “Our new client values our partnership in their expansion strategy. The provided structure puts them at a strong competitive advantage to quickly advance their position within their industry.”
