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CPXi Secures ABL Financing From Gibraltar Business Capital
- Date November 1, 2016
- Transaction type Financing
- Industry Business Services, Technology
Media tech company CPXi, a company headquartered in New York with offices globally, required some creative financing after pursuing the sale of one of its operating divisions. CPXi secured a $6 million ABL line from Gibraltar Business Capital, which will allow the digital solutions company to leverage existing assets while effectively competing in a demand heavy marketplace.
Headquartered in Chicago, Gibraltar Business Capital is a privately held middle-market lender providing small- to medium-sized business owners fresh and accessible capital alternatives to a commercial bank loan.
Progress Partners, an M&A Advisory Firm based in Cambridge, MA represented CPXi in this transaction. Progress Partners and Gibraltar Business Capital have been Axial members since December 2011 and January 2016, respectively.
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