$45 million
Acquisition
Representative Deals
- $45 millionAcquisition
Apparel Manufacturing
Safariland is a leading manufacturer of protective products for local police and other protective agencies worldwide. Products include hard and soft body armor, holsters, duty gear, protective equipment and less lethal protective alternatives. Safariland sells its products under a broad spectrum of brands and maintains premier positions in its core product lines in the U.S. Products are sold to users through approximately 300 dealers, distributors and wholesalers. Headquartered in Jacksonville, Fla., the company has approximately 1,700 employees in five facilities across North America.
Bank of America Business Capital has provided financing for Safariland, LLC through a $45 million, asset-based revolving credit facility. The credit facility will support the acquisition by Kanders and Company, Inc.
- $100 millionRefinance$100 millionRefinance
Apparel Manufacturing
As sole lender and administrative agent, Bank of America Business Capital has refinanced a $100 million asset-based credit facility for Haggar Clothing Co., Haggar Women's Wear, LTD and Haggar Direct, Inc. ("Haggar Clothing Co." or "the Company"). Proceeds will be used for general working capital purposes.
Since its beginnings in Dallas, Texas in 1926, the Haggar Clothing Co. has grown from a manufacturer of men's fine dress pants and slacks, into one of the most recognized apparel brands in the market, with Haggar® casual pants, dress pants and suit separates, offering head-to-toe clothing options for style-conscious men of all ages and professions. In addition to its Haggar brand, the company has launched the highly successful, and eco-friendly, LK Life Khaki Pant™ brand. Haggar Clothing Co today enjoys the #1 market position in men's dress pants in the United States, as well as the #2 share in men's casual pants.
- $90 millionWorking Capital$90 millionWorking Capital
Wholesale distributor of roofing and related products
Headquartered in McKinney, TX, SRS Distribution Inc. is a building products distribution holding company that operates in 80 locations in 27 states under the names: Suncoast Roofers Supply (FL), Southern Shingles (TX/OK/LA/MO/AR), SRS Roofing Supply (AL), Rowe Supply (GA/SC), Atlanta Roofing Supply (GA), Cannon Supply (SC), Midwest Roofing Supply (IL/MN), River City Wholesale (KY), Superior Distribution (TN/MD/VA/NC), Shake & Shingle Supply (CO/KS/MO/NE/IL), Stewart Building & Roofing Supply (AZ), Roofline Supply (OR/CA), Stoneway Roofing Supply (WA), Pace Supply (PA/CT), Burbank Roofing Supply Group (CA), ABCO Supply (MI), and Sierra Roofing Supply (NV). SRS is a portfolio company of AEA Investors.
Bank of America Business Capital has increased the revolving loan facility for SRS Distribution Inc. and its sponsor group, AEA Investors, LLP, from $60MM to $90MM to further support acquisitions and working capital growth. The company continues to generate strong profit and cash flow as it executes growth plans through small acquisitions and green-field start-ups.
Overview
Bank of America Business Capital provides asset-based loans of $20 million or more for working capital, acquisitions, expansions, turnarounds and debt restructurings. For nearly a century, companies from virtually every industry have turned to Bank of America Business Capital for sound financial solutions. As one of the largest asset-based lenders in the world — serving the United States, Canada and Europe — we're dedicated to helping middle-market and large corporate borrowers achieve their goals.
Lending Profile
For nearly a century, companies from virtually every industry have turned to Bank of America Business Capital for sound financial solutions. As one of the largest asset-based lenders in the world — serving the United States, Canada and Europe — we're dedicated to helping middle‑market and large corporate borrowers achieve their goals. Our proven track record and commitment to higher standards have resulted in lasting relationships and satisfied clients.
Who can benefit
Companies seeking financing solutions of $10 million or more can benefit from the flexibility and versatility of an asset-based structure. With experience in more than 200 industries, we serve companies in the following sectors:
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Manufacturing
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Wholesaling
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Distribution
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Services
Capabilities
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Asset-based structures of $10 million or more
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Revolving lines of credit
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Term loans with flexible amortization schedules
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Local structuring, underwriting and appraisal
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Ability to consider intangible collateral such as product line and trade name valuations, intellectual property or foreign assets
Loans support
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Recapitalization
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Restructuring and Turnarounds
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Leveraged Buyouts
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Refinancing
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Growth
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Working Capital
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Mergers and Acquisitions
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Capital Expenditures
Extensive resources
As a client, you can leverage a broad array of financial solutions from Bank of America Merrill Lynch, including:
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Junior and High Yield Debt
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Loan Syndications
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Treasury Services
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Interest Rate Protection
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Foreign Exchange and Commodity Risk Management
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Mergers and Acquisitions Advisory
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Capital Markets Products
Why choose us
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Customer commitment — we take pride in providing clients and intermediaries with a "best-in-class" experience
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Breadth of products/services — asset-based loans of $10 million or more, enhanced by the most extensive financial products and services in the industry
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Experience — the largest share of middle-market and large corporate relationships of any bank in the United States, including more than 99 percent of the Fortune 500
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Leading service technology — proprietary web-based loan servicing system gives clients instant access to account information and day-to-day transactions
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Syndication strength — Bank of America Merrill Lynch is ranked No. 1 U.S. lead arranger of asset-based loans in volume, number of deals and market share by Thomson Reuters, 1Q 2011
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Global provider — offices serving the United States, Canada and Europe
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Stability — part of Bank of America Merrill Lynch, one of the largest financial services providers in the world
Perspective |
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Business Capital Asset-Based Financing Solutions (Jan./Feb. 2013)
See some examples of how Bank of America Business Capital is helping provide working capital solutions, innovative ideas and practical advice to its clients, such as the recent $100 million Asset Based refinancing for Haggar, Inc. and the $45 million working capital loan to Safariland, a manufacturer of protective apparel and products. Visit the Deals & Transactions section of our web site for more examples in action.
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Risky Business: Managing risks — and opportunities — before disaster strikes
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2012 CFO Outlook Fall Update
Never before has so much weighed on the minds of corporate finance chiefs, from the changing government landscape to uncertain global market conditions. However, despite wider concerns, CFOs remain confident on several key fronts. Read the 2012 CFO Outlook Fall Update to learn more.
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News Media
- The news media may arrange an interview, obtain a byline article or request additional asset-based lending information by contacting:
Jefferson George
Bank of America
Bank of America Newsroom