Stonegate Capital is pleased to announce it has closed on the following two investments in November:
Stonegate has closed a $5MM loan for Certus Manufacturing, a manufacturer and operator of tire inflation equipment across the nation. Certus has developed a multi-functional machine which convenience store chains are embracing given the superior performance and technology of the units. Certus enters into long-term, revenue sharing agreements with both national and regional chains. Along with an investment from Lil’ Drug Store Products, Stonegate Capital provided a versatile credit facilty that is critical for the growth and expansion of the company as they continue to win new contracts. Stonegate worked with company management and recognized the collateral value in the recurring revenue of their network of machines.
Stonegate Capital provided a $4MM Line of Credit for a specialty foods product manufacturer. The company, backed by a growth focused sponsor, has doubled revenue year-over-year and is continuing on that pace. Given this, they sought a partner who could provide financing to support the successfully expanding business. Stonegate recognized the company’s strong equity support, the founder’s vision, and the value in their assets to deliver on the growth capital.