iStock.com/Roman Mykhalchuk
Wire, cable and industrial supply distributor Gehr Industries said Wednesday that it has received a $15 million “asset-based revolving credit facility” to build inventory and support its ongoing growth and working capital needs.
Commercial finance and advisory firm BizCap announced that it had structured and secured the loan for the company, which operates both Century Wire & Cable and Milspec Industries.
Gehr CFO Max Paetzold said in a statement that BizCap enabled “multiple attractive financing options” despite “challenging capital market conditions.”
He added that the loan would position Gehr “for continued growth and long-term success.”
