Even in today’s challenging environment, Gibraltar moved rapidly to help a new sponsor-backed client, Bentek, refinance a working capital loan. With a more flexible advance rate structure, we were able to provide Bentek with the funding support it required to efficiently manage a project backlog.

Headquartered in San Jose, CA, Bentek is a manufacturer of power distribution solutions. The company was founded in 1985 to provide comprehensive design, manufacturing, and logistics services for the semiconductor equipment industry. Bentek continues today to design and manufacture electromechanical and power distribution solutions for high-tech and industrial markets. In 2009, the company expanded its offerings with the creation of a Solar Products division. This division produces combiners, recombiners, safety systems, cables, harnesses, and accessories for a wide range of photovoltaic projects.

Bentek receives large orders related to domestic and foreign solar projects. Because of the scale of these orders, the company can experience revenue and cash flow fluctuations that require a stabilizing capital solution.

Prior to working with Gibraltar, Bentek had the opportunity to work with other lenders, but found Gibraltar to be the most flexible and understanding of their needs. They engaged in discussions with Gibraltar, which ultimately led to a $6 million line of credit based on A/R and Inventory.

Kevin Keenley, Managing Director, Fundamental Capital and Board Chair, Bentek shared, “The Gibraltar team took the time to understand our unique business and crafted a creative solution that enabled Bentek to continue to grow during these unprecedented times.  Equally impressive was the speed in which they operated, especially considering the COVID-19 environment. They are great partners.”