The Company is one of the leading full-service plumbing products and supply distributors in the Chicagoland area, servicing commercial and residential contractors and service providers.

After experiencing rapid growth, the Company built a new 80,000 square foot facility.  Recently, the Company also made a strategic acquisition and opened a new location in a new geography. 

Management asked Fort Dearborn Partners to evaluate its strategies and help communicate the merits of their plan to the lender community.

With Fort Dearborn's assistance, the Company successfully:

–Brought focus to customer and product line margin analysis;

–Extended the line-of-credit with their former lender;

–Increased the amount of the line-of-credit with its new lender by $3 million;

–Prepared materials that assisted in i) extending the term of its old line-of-credit, and ii) expediting the due diligence process for obtaining a new lender; and

–Negotiated the inclusion of previously excluded collateral in the new borrowing base.

Our process generated several lender proposals with the new financing structure, resulting in additional liquidity to help fund the Company’s continued growth.

Additionally, the structure provided annual interest savings in excess of $100,000.  The financing was completed approximately four months after going to market.