Bridge Finance Group Provides a $14.0 Million Facility to Hill Enterprises, Inc.
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
Bridge Finance Group (“Bridge”) announced the completion of a $14.0 million revolving line of credit to Hill Enterprises, Inc. and Subsidiaries (“Hill” or the “Company”) on July 9, 2008. Bridge acts as Agent on the transaction, with U.S. Bank serving as co-lender in the facility. The Company, founded in 1982, is a large-scale bulk oil, lubricant and fuel distributor serving customers in Colorado and five adjacent states. Hill is headquartered in Arvada, Colorado. The funding facilitated the acquisition of Cox Oil Company and will transition Hill into one of the industry leaders. Hill will now be able to offer additional and enhanced services from northern Colorado to southern Colorado.
“The funding of this facility had to be completed in less than four weeks and Bridge was able to meet the tight timeline through focused efforts of the entire organization,” said Troy Hill, President and Chief Executive Officer of Hill. “Bridge worked tirelessly through weekends and late into nights in an effort to fully understand our business and deliver a creative financing option that was presented to us less than a month ago.”
“The financing will allow Hill to broaden its market in and around the state of Colorado via the acquisition of Cox Oil Company,” said Randy Abrahams, President and Chief Executive Officer of Bridge Finance Group. “Our facility will provide the Company with enough liquidity to fulfill its growth plans.”
Source: Bridge Finance Group