First Business Bank's Asset-Based Lending team announced a recently closed and funded $15 million revolving line of credit to fund the acquisition of a distributor of communications and payment systems through a corporate divestiture transaction.

"We're pleased to support our client's second acquisition with us, this time facilitating the purchase of a division from a Fortune 400 company," said Steve Bishop, President – Asset-Based Lending at First Business Specialty Finance LLC, a subsidiary of First Business Bank. "This transaction demonstrates our ability to structure financing solutions for complex carve-out transactions that require specialized expertise and rapid execution."

The acquired South Carolina-based company distributes telephone systems, point-of-sale payment devices, and comprehensive communications equipment to businesses nationwide. This strategic acquisition expands the buyer's portfolio and market reach in the growing communications technology sector.  

First Business Bank’s Asset-Based Lending team provides asset-based loans nationwide to businesses in transition with sales from $10,000,000 to $100,000,000+ and financing requirements of up to $25,000,000. Our financing assists these companies with lending solutions to accomplish turnarounds, restructurings, business acquisitions, assist with rapid growth and more.