ACM Capital Partners, Mark Crest Bank Group to provide multi-million dollar asset-based lending to companies in difficulty in medicine
December 17th, 2009
ACM Capital Partners, a national investment and advisory firm specializing in assisting middle-market companies in transition or distress, and Crestmark Bank, a nationally recognized provider of working capital solutions to small- and mid-sized businesses, today announced they have partnered to deliver a multi-million dollar asset-based loan for a struggling medical device company headquartered in California.
The medical device manufacturer had suffered negative cash flow over the last few years and had been unable to obtain adequate financing. ACM was engaged by the manufacturer and served as its interim CEO and CFO. Randy Paulfus, ACM’s Managing Director, said joining forces with Crestmark Bank was a natural fit and helped stabilize the company in the midst of a continuing and unprecedented economic downturn.
“Crestmark’s reputation for specialty asset-based lending combined with ACM’s expert Financial Practice advisory services helped our client secure much-needed financing at a critical time in its lifecycle,” Paulfus said.
Crestmark Bank First Vice President Bob Harbers added, “Crestmark Bank continues to help small- to middle-market companies throughout the country with their working capital needs. As a well-capitalized FDIC-insured bank, we are able to offer unique financing alternatives to a market that currently cannot find solutions at many traditional banks.”
Headquartered in Troy, Mich., with regional offices in Florida, Tennessee and Louisiana; and sales offices located in Arizona, California, Georgia, Illinois, New York, Ohio and Texas, Crestmark Bank is an FDIC-insured bank, providing asset-based lines of credit and factoring lines of credit to small- and middle-market companies nationwide. For more information visit www.crestmark.com.
ACM’s unique approach focuses on injecting various forms of capital (including financial, intellectual and operational) directly into its client companies. Alongside capital infusion, ACM places a hands-on, seasoned member of each one of its three discipline teams (Executive, Financial and Operational) into each client engagement.
Categories: Financial Services |
