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FGI Closes Record Number of Deals in Second Half of 2013NEW YORK --(Business Wire)-- FGI (www.FGIWW.com) closed a record number of deals in the second half of 2013. The 60 deals that closed showcase the various services FGI provides to help small and mid-market companies grow their businesses, including helping clients secure working capital, leverage existing assets, and/or find the right credit insurance coverage or the right credit facility to best assist their clients. "We are very pleased with the results from 2013. We have been able to support a host of clients with variable needs and complex business structures. FGI is proud to facilitate expansion in our economy and to provide needed financing options to our clients," said David DiPiero, President and CEO of FGI. "We look forward to continuing to build on our current client relationships and to developingnew ones in 2014." Each of these deals provided FGI's clients with either increased availability or better credit insurance coverage, and demonstrates FGI's ability to operate both locally and internationally with the same ease. A few of the significant deals from 2013 are listed below: DeVilbiss FGI Finance structured three separate agreements to leverage subsidiaries in the UK, Germany and France and provide a working capital facility that gave DeVilbiss access to roughly $5 million in unencumbered receivables overseas. FGI worked alongside a domestic asset based lender to provide additional availability to DeVilbiss, the portfolio company of a NY based private equity group. Sam Salem and Son FGI Risk used its own network to work directly with the underwriters and the decision makers at each insurance carrier. The coverage FGI secured met all three of Sam Salem and Son's requirements-better coverage for even high risk customers, better premiums and a lower deductible. Triton FGI Capital secured an asset-based credit facility from a Connecticut-based finance company under tight time constraints. This new credit facility allowed Triton to pay off its existing lender and provided the working capital needed to invest in new technology crucial to the company's future growth. About FGI FGI (www.FGIWW.com) is a global leader in the commercial finance industry, equipping small and medium enterprises with the tools they need to safely grow their business. FGI's three key business units, FGI Finance, FGI Risk, and FGI Capital, cover the full spectrum of financial services - providing customized business solutions tailored to meet all client needs. Headquartered in New York City, FGI maintains a presence on 6 continents with clients in over 60 countries around the world. |
