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Recent Transactions
Travelers Capital has provided loan & lease solutions to borrowers across a multitude of industries. Recent transactions include, but are not limited to, the following facilities:
Term Loan
$
A leading heavy equipment rental business in California was seeking to consolidate their numerous incumbent debt facilities and inject working capital to re-stabilize operations in a post-COVID environment. Travelers Capital was able to assist by re-leveraging the existing fleet and structure the facility as a non-fully amortizing 24-month bridge loan. The facility was tailored to improve free cash flow retention by lowering the company’s annual debt service burden and convert equity in the fleet into additional liquidity to help the business meet its growth objectives.
Restructure
$
A forestry services enterprise was looking to right-size the business following a failed venture in the aggregate space. Furthermore, the existing senior lender was reluctant to support disposition efforts or provide capital solutions that could alleviate cash flow issues. Travelers put forth a flexible solution that paid out existing senior creditor, supported the disposition process, provided immediately working capital, and lowered monthly payment obligations. Post funding, we have continued to facilitate the sale of assets for the purpose of working capital, approved asset security swaps, and amended payment terms for seasonality.
CAPEX Lease
$
A diversified business owner was seeking to acquire a net-new helicopter to take advantage of the upcoming summer season and it’s multitude of uses and potential revenue streams. Traveler’s facilitated the capex facility on a rush basis with an extended amortization, no financial covenants, and favorable repayment terms
Restructure
$
A speciality O&G service provider was increasing market share by offering short-term incentive pricing to end users but unfortunately was at the expense of certain margins with impacts to financial covenants, which ultimately led to a falling out with existing senior creditor. Travelers was able to assist by re-leveraging the existing fleet, facilitate a sizeable working capital injection, and coordinate a full term of interest-only payments to assist with the client’s turnaround initiatives. The capital solution allowed the company to continue on its short-term growth strategy while materially lowering debt service obligations, and freed them from strict financial covenants.
Bridge Loan
$
After a derailed expansion attempt stemming from customer delays, and Covid-19 adversely impacted the clients balance sheet and cash flow, Travelers’ structured a bridge facility that re-leveraged a number of balances sheets within the group and underwrote proforma in order to inject critical working capital that allowed the business to execute on it’s work pipeline and continue on its path to recovery
Working Capital
$
A steel fabrication outfit experienced hardships in 2020 due to delayed projects as a result of Covid-19. As the market recovered, and projects started to come back online, the company found itself to be in a liquidity crunch. Travelers’ re-leveraged the company’s unique array of manufacturing equipment so that the borrower could action on the upfront costs related to restart and execute on it’s work pipeline.
Distressed Refinance
$
To assist a Western Canadian excavation and aggregate production business access off-balance sheet equity to repay motivated senior creditors and provide working capital to catch up on arrears, including amounts owing to the CRA arrears. Travelers Capital was able to facilitate the refinance by underwriting both capital and current assets to ensure sustainable leverage.
LBO Financing
$
To assist a Western Canadian directional-drilling company in their acquisition of a complimentary hydrovac business, Travelers Capital was able to approve a +90% of LBO purchase price advance by underwriting the target company and while also recapitalizing the purchaser’s balance sheet.
Bridge Loan
$
To facilitate their transition back to bankability, Travelers Capital underwrote $7.8MM sale and leaseback for an East Coast construction and paving company. The business had endured a particularly difficult year due to weather and was asked to leave their house bank of over 60 years as they now fell outside of the institution’s traditional credit guidelines. Working in tandem with a new working capital lender, TC was able to approve a multi-facetted capital asset sale and leaseback with a seasonal payment scheme to accommodate management’s recovery initiative.
CAPEX Lease
$
Travelers Capital financed the acquisition of a net-new piece of specialized equipment for a Western Canadian forestry company that was depending on the asset to meet its substantial growth plans and work program. TC facilitated a quick close while also structuring an off-market down payment program to accommodate the Borrower’s immediate liquidity needs.
Working Capital Refinance
$
Travelers Capital facilitated a large working capital injection for a Central Canadian construction company looking for increased flexibility in their covenants, growth capital for new contracts won, and additional cash-on-hand for capital costs associated with their new business venture into aggregate production and sales. By paying out all existing creditor and re-levering the company’s balance sheet, TC was able to provide a quick close and allow the company to direct their attention to their core and net-new businesses.
Bridge Loan
$
To enable their transition and turn-around plan, Travelers Capital provided a $7MM sale and leaseback to a Central Canadian group of companies in the aggregate production sector who had endured a very difficult prior fiscal year but still retained a promising balance sheet. The facility was structured as a short term bridge-to-balloon with an initial interest only period, and was to be used to repay existing creditors, pay down lagging accounts payable, and provide capital for up-front work costs on new contracts for new fiscal year.
Travelers Capital. All Rights Reserved ©
A division of the Travelers Financial Group, a Canadian privately held non-bank lender
The member of:
Recent Transactions
Travelers Capital has provided loan & lease solutions to borrowers across a multitude of industries. Recent transactions include, but are not limited to, the following facilities:
Term Loan
$
0
A leading heavy equipment rental business in California was seeking to consolidate their numerous incumbent debt facilities and inject working capital to re-stabilize operations in a post-COVID environment. Travelers Capital was able to assist by re-leveraging the existing fleet and structure the facility as a non-fully amortizing 24-month bridge loan. The facility was tailored to improve free cash flow retention by lowering the company’s annual debt service burden and convert equity in the fleet into additional liquidity to help the business meet its growth objectives.
Restructure
$
0
A forestry services enterprise was looking to right-size the business following a failed venture in the aggregate space. Furthermore, the existing senior lender was reluctant to support disposition efforts or provide capital solutions that could alleviate cash flow issues. Travelers put forth a flexible solution that paid out existing senior creditor, supported the disposition process, provided immediately working capital, and lowered monthly payment obligations. Post funding, we have continued to facilitate the sale of assets for the purpose of working capital, approved asset security swaps, and amended payment terms for seasonality.
CAPEX Lease
$
0
A diversified business owner was seeking to acquire a net-new helicopter to take advantage of the upcoming summer season and it’s multitude of uses and potential revenue streams. Traveler’s facilitated the capex facility on a rush basis with an extended amortization, no financial covenants, and favorable repayment terms.
Working Capital
$
0
A steel fabrication outfit experienced hardships in 2020 due to delayed projects as a result of Covid-19. As the market recovered, and projects started to come back online, the company found itself to be in a liquidity crunch. Travelers’ re-leveraged the company’s unique array of manufacturing equipment so that the borrower could action on the upfront costs related to restart and execute on it’s work pipeline.
Bridge Loan
$
0
After a derailed expansion attempt stemming from customer delays, and Covid-19 adversely impacted the clients balance sheet and cash flow, Travelers’ structured a bridge facility that re-leveraged a number of balances sheets within the group and underwrote proforma in order to inject critical working capital that allowed the business to execute on it’s work pipeline and continue on its path to recovery.
Restructure
$
0
A specialty O&G service provider was increasing market share by offering short-term incentive pricing to end users but unfortunately was at the expense of certain margins with impacts to financial covenants, which ultimately led to a falling out with existing senior creditor. Travelers was able to assist by re-leveraging the existing fleet, facilitate a sizeable working capital injection, and coordinate a full term of interest-only payments to assist with the client’s turnaround initiatives. The capital solution allowed the company to continue on its short-term growth strategy while materially lowering debt service obligations, and freed them from strict financial covenants.
Distressed Refinance
$
0
To assist a Western Canadian excavation and aggregate production business access off-balance sheet equity to repay motivated senior creditors and provide working capital to catch up on arrears, including amounts owing to the CRA arrears. Travelers Capital was able to facilitate the refinance by underwriting both capital and current assets to ensure sustainable leverage.
Distressed Refinance
$
0
To assist a Western Canadian excavation and aggregate production business access off-balance sheet equity to repay motivated senior creditors and provide working capital to catch up on arrears, including amounts owing to the CRA arrears. Travelers Capital was able to facilitate the refinance by underwriting both capital and current assets to ensure sustainable leverage.
LBO Financing
$
0
To assist a Western Canadian directional-drilling company in their acquisition of a complimentary hydrovac business, Travelers Capital was able to approve a +90% of LBO purchase price advance by underwriting the target company and while also recapitalizing the purchaser’s balance sheet.
Bridge Loan
$
0
To facilitate their transition back to bankability, Travelers Capital underwrote $7.8MM sale and leaseback for an East Coast construction and paving company. The business had endured a particularly difficult year due to weather and was asked to leave their house bank of over 60 years as they now fell outside of the institution’s traditional credit guidelines. Working in tandem with a new working capital lender, TC was able to approve a multi-facetted capital asset sale and leaseback with a seasonal payment scheme to accommodate management’s recovery initiative.
CAPEX Lease
$
0
Travelers Capital financed the acquisition of a net-new piece of specialized equipment for a Western Canadian forestry company that was depending on the asset to meet its substantial growth plans and work program. TC facilitated a quick close while also structuring an off-market down payment program to accommodate the Borrower’s immediate liquidity needs.
Refinance
$
Travelers Capital facilitated a large working capital injection for a Central Canadian construction company looking for increased flexibility in their covenants, growth capital for new contracts won, and additional cash-on-hand for capital costs associated with their new business venture into aggregate production and sales. By paying out all existing creditor and re-levering the company’s balance sheet, TC was able to provide a quick close and allow the company to direct their attention to their core and net-new businesses.
Bridge Loan
$
0
To enable their transition and turn-around plan, Travelers Capital provided a $7MM sale and leaseback to a Central Canadian group of companies in the aggregate production sector who had endured a very difficult prior fiscal year but still retained a promising balance sheet. The facility was structured as a short term bridge-to-balloon with an initial interest only period, and was to be used to repay existing creditors, pay down lagging accounts payable, and provide capital for up-front work costs on new contracts for new fiscal year.
Travelers Capital. All Rights Reserved ©
A division of the Travelers Financial Group, a Canadian privately held non-bank lender
The member of:
