Metal Tube Manufacturer – NC

TOTALLY TUBULAR; LIGHTHOUSE PROVIDES SUITE OF DEBT PRODUCTS

The company was originally set up to produce diesel injection lines and has since expanded to produce a full range of industrial products, supplying tubing solutions to some of the world’s largest blue-chip companies for over 3 decades.  The former parent company filed for bankruptcy protection in the UK eventually selling the US company to another UK based investment firm.  The incumbent lender gave the new owner six months to refinance the debt of the US entity.  After initially assisting with the due diligence ahead of the purchase, Lighthouse provided a suite of debt products to pay out the lender and provide additional liquidity to support working capital.  The debt structure included a $2,500,000 Line of Credit, $625,000 Term Loan secured by machinery and equipment, and a $550,000 Mortgage on the real property, which was subsequently sold to a financing partner.