Austin Financial Services, Inc. (AFS) closed a $5MM senior secured credit facility to a private equity (PEG) owned full-service custom automation and manufacturing company that services the medical and life sciences, consumer goods, and aerospace markets. The PEG, who recently acquired the Company, was looking for a reliable lending partner with the proven capability to structure a customized & flexible financing solution with the ability to close in a limited timeframe.
Jason Anish, President and CEO, said “AFS has proven again that our relationship based approach continues to differentiate us in the marketplace.” He continued, “Our people and product offering allow us to remain competitive and respond quickly to meet our client’s needs.”
Funds from the AFS line of credit were used to refinance existing debt, for ongoing working capital, and to fulfill the company’s strong backlog of orders.
About Austin Financial Services (AFS)
Headquartered in Los Angeles, Austin Financial Services (AFS) is a privately held, nationwide leader in asset-based lending, serving the middle-market sector for over 40 years. Specializing in alternative funding options, AFS provides support to small and medium-sized businesses that are experiencing growth or undergoing a turnaround. Clients typically have revenues ranging from $10MM to $250MM and have borrowing needs of up to $20MM. AFS’s comprehensive portfolio includes flexible revolving lines of credit secured by accounts receivable and inventory, along with term loans secured by equipment.