Fourshore Partners has acquired Celtic Capital Corporation, a financial services company focused on asset-based lending to middle-market firms. No financial terms were disclosed.
MIAMI–(BUSINESS WIRE)–Fourshore Partners (Fourshore) announced today its acquisition of Celtic Capital Corporation (“Celtic” or “Company”), a financial services company specializing in asset-based lending to middle-market companies nationwide.
With an appetite for the more complex transactions, Celtic Capital has a history of success in crafting creative, flexible financing solutions with no financial covenants. As an independent lender, Celtic Capital is willing and able to alter price and deal structure, expand lines of credit to handle its clients’ increased revenues, and when cash flow is an issue, will look toward providing an inventory facility to help offset lost cash flow. For over thirty years, Celtic Capital has been providing intelligent capital which has made Celtic Capital one of the most respected asset-based lenders in the nation.
“We’re excited to partner with an investor that shares our approach to lending and our strategic vision for the future of Celtic,” said Mark Hafner, Chief Executive Officer of Celtic Capital Corporation.
Pedro Freyre, Partner at Fourshore, said that “We are looking forward to partnering with the talented and highly experienced executive team at Celtic.”
The transaction was led by Jose Costa, Pedro Freyre, Jose Manuel Torres, and Milos Milosevic at Fourshore Partners.
About Celtic Capital
Celtic Capital specializes in providing asset-based financing from $500,000 to $5 million for manufacturers, wholesalers, distributors, and service providers throughout the United States. Companies unable to secure traditional bank financing, or out of covenant with their current banks, look to Celtic Capital to provide the working capital they need to fund growth, expand into new markets, increase buying power and take advantage of vendor discounts and rebates.
About Fourshore Partners
Fourshore Partners is a Miami-based private equity firm that focuses on lower middle market buyouts in the U.S. and Caribbean. Fourshore targets companies generating between $2m and $15m of EBITDA with enterprise values between $10m and $75m.