The Company is a worldwide leader in specialty hockey training equipment. Its products are sold across North America and Europe through distribution agreements with major retailers and via its online e-commerce platform.
The Company was experiencing exponential growth which put a strain on its working capital. In an effort to get the necessary cash to purchase additional inventory, the Company factored certain accounts receivable that, unbeknownst to them, was a breach of a covenant with their chartered bank. The Company came to us to help them find a patient lender that would provide the financing necessary to fuel their growth.
Welch Capital Partners’ Approach
Time was of the essence as the banking relationship had been damaged. We reached out to ten alternative lenders over a two day period and got a term sheet in hand within a business week.
Welch Capital Partners’ Advantage
Our involvement provided a level of comfort with the existing bank that a re-financing would be completed, which gave alternative lenders some breathing room to get a term sheet accomplished in short order. Our concise diligence package meant prospective lenders were quickly able to assess the opportunity.