Gordon Brothers arranges $146M in construction financing
Deal includes 5-year, $110M revolving credit facility
Global financial services and asset management firm Gordon Brothers has facilitated a CA$200 million ($146.3 million) financing deal for Morgan Construction to support working capital, new equipment purchases and growth.
The transaction includes a five-year, $109.8 million revolving credit facility and a nearly $40 million accordion feature, according to a Gordon Brothers release today. As part of the deal, Gordon Brothers will provide long-term asset advisory and consulting services through its subsidiary, Nations Capital.
“As we expand our Canadian presence, we’re proud to partner with a respected family-run business and industry leader like Morgan Construction,” Kyle Shonak, chief transaction officer at Gordon Brothers, stated in the release. “Our comprehensive solution combines lending, advisory and deep asset expertise to enable long-term growth.”
Morgan Construction President and Chief Executive Peter Kiss said Gordon Brothers’ equipment expertise has been “critical” to supporting company’s operations and expansion efforts across Canada.
Gordon Brothers specializes in short- and long-term capital solutions for clients. The firm works with management teams, private equity sponsors and lenders to deliver capital and expertise, according to the release.
Editor’s note: All amounts have been converted to U.S. dollars.
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