Eclipse Business Capital Provides $28.5mm to Support the Acquisition of Flooring Products Distributor
Chicago, IL – January 25, 2023 – Eclipse Business Capital LLC (“EBC”) announced today that it has provided a $28.5 million senior secured credit facility to support the acquisition of a flooring products distributor. The transaction included a $25mm revolving line of credit and a $3.5mm machinery & equipment term loan that are secured by accounts receivable, inventory, and machinery and equipment. The proceeds will be used to fund the acquisition and support working capital.
Originally founded in 2016, EBC is one of the country’s leading independent asset-based lending platforms targeting both privately-owned and publicly traded companies across a wide range of industries. The firm provides revolving lines of credit and term loans ranging in size from $10 – 200 million that are secured by collateral such as accounts receivable, inventory, equipment, or real estate.
Since it was established, EBC has underwritten more than 85 transactions totaling over $3.30 billion in aggregate credit facilities. EBC has an experienced team of 45 professionals, located in Chicago, Boston, New York, Connecticut, Los Angeles, San Francisco, Houston, Dallas, Charlotte, and Fort Lauderdale and provides financing to middle-market borrowers in the U.S. and Canada.