TAB Bank Upsizes Existing Facility for Infrastructure Products Company to $22.4 Million to Enable Acquisition of its Largest Competitor
OGDEN, Utah, July 03, 2019 (GLOBE NEWSWIRE) — TAB Bank has expanded a financing relationship with an existing client in the infrastructure products business, increasing the company’s working capital facility to $22.4 million.
The relationship was first formed in January of this year to allow the company to execute its strategic growth objectives. Shortly after closing the initial facility, the opportunity arose to acquire their biggest competitor and create the largest integrated supplier of infrastructure and paving products and solutions to heavy and highway contractors throughout the country.
TAB Bank looks forward to continuing this relationship and partnering with the newly combined entity and their world class management team to execute its strategic plan and meet their working capital needs as they continue to evolve and expand.
TAB Bank provides custom working capital solutions to commercial businesses across a wide range of industries. These solutions can be customized to meet the needs of companies in all stages of the business life cycle and during any economic conditions. TAB Bank does this through a variety of asset-based structures including Asset-Based Revolving Loans, Accounts Receivable Financing, Lines of Credit, and Equipment Finance. TAB’s lending options can also be combined with a full suite of business banking solutions and Treasury Management Services. In addition, TAB provides card and loan sponsorship programs through its strategic partnership product suite.
Brett Horwitz is TAB Bank’s Vice President and Business Development Officer based in Southern California. Brett has years of experience developing client relationships and structuring credit facilities in the asset-based lending arena. Brett can be reached at 949.466.5255 or at brett.horwitz@tabbank.com.
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