North Palm Beach, FL, March 18, 2010 --(PR.com
)-- Frost Capital LLC acted as the exclusive advisor in arranging a credit facility for a leading test and measurement instrument manufacturer, it was announced by Frederick Dallye, Director of Frost Capital.
A money center bank provided the credit facility. Terms were not disclosed.
“This facility allows them the working capital to execute substantial pending growth opportunities,” Mr. Dallye said. “We look forward to working alongside the company’s management as their advisor as they continue to roll out and execute their strategy.”
Founded in the early 20th century, the test and measurement instrument manufacturer has been primarily selling various categories of instrumentation and controls, uninterruptible power supplies, gas monitoring, process equipment and variable frequency drives to the power, water, and wastewater utilities and industrial clients. The company operates from locations on the east and west coasts. The company is a leader in automation and control technology in the industrial and utility sectors.
“Frost Capital identified and secured a facility that would work for us,” said the Company's president and CEO. “We have strong relationships with leading distributors and vendors. During this severe recession, Frost Capital has strengthened our position and allowed us to accelerate our growth even during these tough economic times. I appreciate the contribution by the entire Frost Capital team in accomplishing this financing,” he said.
About Frost Capital:
Frost Capital LLC is an investment banking firm solving the capital needs of businesses with sales or asset values over $2 million. We supply M&A advisory and financing for expansion or restructurings as well as liquidity to owners of privately held companies. Our principals have managed over 100 transactions creating value for themselves or clients in excess of $500 million. Frost Capital requires no upfront fees for any transaction and advisory term length is determined exclusively by our clients.