FOR IMMEDIATE RELEASE
RICHMOND, VA – (March 2012) The Orlando office of Richmond-based Transact Capital recently arranged a $6 million loan agreement for Coral Industries, Inc. of Tuscaloosa, AL by a multi-year debt facility provided by TAB Bank.
Jonathan Molayem, vice president of Transact Capital in Orlando, served as financial advisor to Coral Industries in the transaction, working closely with Ogden, Utah-based TAB Bank to set up a customized lending facility for Coral Industries.
“We are seeing more evidence that lenders are willing and able to finance growth and expansion of mid-market industrial enterprises,” Molayem said. “This is a strong sign for our economy and it is especially good for the more than 300 workers currently at Coral Industries and all the additional workers the company will hire,” he continued.
Grant McAllister, executive vice president and chief financial officer of Coral Industries noted the added value working with Transact Capital. “I felt like they were genuinely interested in our business and that we both shared the same goal to find the best fit for our capital needs. Transact Capital’s knowledge and experience helped us accomplish that goal.”
Transact Capital is an independent mergers and acquisitions advisory firm headquartered in Richmond, VA with offices in Roanoke, VA, Lexington, KY, and Orlando, FL. Transact focuses on the needs of small privately held companies with less than $100 million in revenues. With extensive experience in owning, running, or investing in private companies or divisions of public companies, the firm’s principals are able to help many business owners exit their companies or explore other opportunities.
To learn more about Transact Capital, please call Steve Zacharias at 804-323-6868 ext. 102 or send an e-mail to Steve at Steve@TransactCapital.com.