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Bridge Finance Group Provides $14,450m Acquisition Financing To Rincon Industries, Inc. CHICAGO – JANUARY 3, 2007 - Bridge Finance Group funded a $2,450,000 Revolving Line and a $12,000,000 Senior Term Loan to Rincon Industries, Inc. The credit facility allowed for the acquisition of Paris Precision Products, Inc. Rincon is a conglomerate comprised of precision sheet metal manufacturing and data center equipment focused on high-margin market segments, low volume, large scale, complex, short lead-time engineering development and rapid prototyping requirements. "This Facility allowed for the acquisition of Paris Precision and will provide the working capital to fund additional growth", noted Shawn Andrews, Managing Director of Bridge Finance Group. "This acquisition will further strengthen Rincon's position within the market. We look forward to working with the Company to close additional acquisitions in the future." When asked about the transaction, Karl Altergott, Rincon Industries CEO, said, "We believe Bridge Finance Group's experience in capital markets, together with their focus on building value operationally, will help us to continue to grow our business while further strengthening our operations. The newly formed partnership represents a great outcome for our customers, suppliers and employees."ABOUT BRIDGE FINANCE GROUP Bridge Finance Group offers a combination of comprehensive loan products, decades of financial expertise and an unparalleled service approach unique to the lending industry. Through accounts receivable, cash flow and real estate based term loan lending products, Bridge is able to address the differing capital needs of its customers. Bridge is based in Chicago, Illinois with offices in the Northeast, Southeast, and West Coast. Contact: Amanda Bowser, Marketing Associate |
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