- KeyBank Expands Commercial Banking Teams in Chicago and Southern California to Serve the Middle Market
- Provident Expands Commercial Lending Team as Part of Regional Growth Strategy for Eastern Pennsylvania
- Appraisers See a Mixed Picture for Valuations
- SLR Business Credit Adds Mark J. Simshauser as Senior Vice President Supporting Growth in Northeast US
- Bob Seidenberger Joins Franklin Capital as VP of Sales
FGI Closes $40MM Facility to Support Acquisition of ScanSource’s former European Division
By FGI
FGI Worldwide LLC (“FGI”) is delighted to announce the completion of a $40MM ABL facility for ScanSource’s former business in Europe. The facility was used, in part, to fund a portion of the acquisition by a Charlotte based family office and to support the company’s future working capital requirements.
The new Company will be headquartered in Brussels, Belgium. They are a leading global provider of technology products and solutions. The business activity is focused on point-of-sale, barcode, physical security, video, voice, data networking and technology services. The acquisition of the European division, which includes the UK, Belgium, France and Germany, was part of ScanSource’s strategic portfolio repositioning to align investments with higher growth and margin businesses.
Victoria Levine, Business Development Director of FGI, said, “We are thrilled to support this acquisition which came with an aggressive timeline requirement. FGI was extremely impressed by the dedicated leadership of the business. Combined teamwork ensured certainty of execution and enabled this facility to close from start to finish in under 35 days. We look forward to working with all the ScanSource Europe team to meet their future goals.”
