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Bridge Opportunity Finance Provides $25 Million Facility To Anthony Clark International Insurance Brokers Ltd. Chicago, IL -- June 27, 2005 - Bridge Opportunity Finance, a division of Bridge Healthcare Finance, today announced the completion of a $25 million term loan to Addison York Insurance Brokers Ltd., a US wholly-owned subsidiary of Anthony Clark. Anthony Clark International Insurance Brokers Ltd., founded in 1989, has expanded through internal growth and the acquisition of 23 general insurance brokerages and processes over $86 million in insurance premiums for its 63,000 customers. Anthony Clark is based in Calgary, Alberta. "This financing is a major step in Anthony Clark’s US expansion plan,” said Primo Podorieszach, chief executive officer of Anthony Clark. “We were looking for a capital partner who understood the risks and rewards of an aggressive acquisitions strategy. Bridge Opportunity Finance is wellknown for their expertise in this arena and demonstrated their ability to help us take advantage of US acquisition opportunities,” added Podorieszach. “This facility will be used to repay existing credit facilities and the balance used to fund future acquisitions of general insurance brokers in the United States,” said Randy Abrahams, president and chief executive officer of Bridge Healthcare Finance. “This closing underscores our expertise in helping customers identify and leverage acquisition opportunities. We understood their business need and took action allowing the company to close in a timely and efficient manner.” 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 healthcare 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 the healthcare industry. Bridge is based in Chicago, Illinois with an office in Hartford, Connecticut. For more information visit Bridge Finance Group at www.bridgefinancegroup.com. |
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