SAN FRANCISCO, July 08, 2020 (GLOBE NEWSWIRE) -- Business Capital assisted Scott’s Liquid Gold (OTC: SLGD) in securing a $10 million credit facility with UMB Bank in conjunction with the acquisition of the Biz and Dryel laundry brands. This new credit facility replaces an existing Bank loan and further supports the working capital needs of the combined entities going forward.
“The BizCap team was instrumental in attaining us acquisition financing options and an outstanding solution in incredibly difficult, turbulent, and pandemic impacted financial markets. They did an A+ job getting our transaction over the finish line,” said Kevin Papryzycki, CFO of Scott’s Liquid Gold.
Over the last 65+ years, the Scott’s Liquid Gold (SLG) brand has been built into a household name as a market leader in the production and sale of high-quality, high-value household and personal care products nationally and internationally. In the past 20 years, SLG has leveraged its retail network and expanded its product offerings to include a complementary suite of brands which allow it to build long term retail relationships. Other than its flagship wood care line of the same name, other brands owned by the Company include Kids N Pets® and Neoteric Cosmetics, whose line of products contain Alpha® Skin Care, Prell®, Denorex® and also distributes Batiste Dry Shampoos.
“Our team at BizCap has been working overtime during the COVID-19 crisis to help business owners surmount unprecedented short-term challenge and secure financing solutions for long-term success. Now is actually the ideal time to get out in front and prepare your business, portfolio or clients for securing capital,” said Chuck Doyle, Managing Director of Business Capital.
BizCap® is a time-tested leading commercial finance and advisory firm specializing in securing customized non-dilutive credit based solutions for rapidly growing as well as challenged middle market companies nationwide who require unique, timely and tailored financing structures to address their particular needs, especially when conventional sources of capital are not an option. BizCap® is a proud supporter of Team IMPACT, a national nonprofit that connects children facing serious and chronic Illnesses with local college athletic teams, forming life-long bonds and life-changing outcomes.
Contact:
Business Capital
Chuck Doyle
415-989-0970
cdoyle@bizcap.com
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f85b4470-0536-4a40-9cc6-edbe4545451d