As Gibraltar Business Capital extends its niche lending capabilities to meet greater demand for capital in the private equity group market, the firm welcomes two new members to its team: Alex Friedman and Dan McCallum. The addition to Gibraltar's origination team will support the continuing efforts of Anthony DiChiara and Heather La Freniere in financing the investment activities of private equity groups in the lower-middle market.
“We have made a concerted effort to work with lower-middle market PE funds and independent sponsors, recognizing the difficulty of obtaining senior financing quickly and with certainty to close for companies with less than $7 million in EBITDA,” says La Freniere, Head of Originations. “Further, we’ll consider assets, funding the bulk of the acquisition and thereby reducing the initial size of equity contributed by the buyer. That has resonated with the market, and we continue to work to become the preferred lender to the lower-middle market private equity community.”
Gibraltar can now support deals up to $10 million, as well as syndicate larger transactions as required.
Friedman joins Gibraltar as an Assistant Vice President, ABL Originations. Most recently he worked at PNC Bank, where he facilitated large syndicated lending relationships for major insurance companies. Prior to PNC, Friedman spent five years as an investment analyst with two different firms, where he studied industry sectors to make equity and fixed income investment recommendations to portfolio managers. He brings a strong deal structuring and execution background to Gibraltar.
McCallum joins Gibraltar as a Senior Associate, ABL Originations. He most recently worked at MB Financial Bank, completing the organization’s internal credit training program; lending his knowledge to the bank’s workout group; and working as a credit officer in the commercial and industrial (or asset based) lending group. Bringing a fresh global perspective to Gibraltar, earlier this year McCallum volunteered with Farmer Livelihood Development in Cambodia, where he helped establish policies and local bank officer training to provide small business loans in this developing country.
Headquartered in Chicago, Gibraltar Business Capital is a privately held middle-market lender providing small- to medium-sized business owners fresh and accessible capital alternatives to a commercial bank loan. With fast, flexible asset based lending and factoring solutions, Gibraltar delivers lines of credit and specialized funding facilities from $2 million to $10 Million that allow businesses to meet their objectives. Building on its 60-year history, Gibraltar Business Capital is a multifaceted company strategically positioned with the portfolio, infrastructure, personnel and resources to support its clients nationwide.