Provided a $30 million term loan to steel fabricator Schuff International secured by real estate holdings, machinery, and equipment.
Client schuff international
By The Numbers
Leading steel fabricator and contractor, Schuff International approached Gordon Brothers looking for additional financing in the form of a $30 million term loan. Since we already had a relationship with the company through our former lending platform, we were able to provide a new term loan supported by first priority liens on 13 pieces of real estate as well as a second priority lien on the working capital assets, machinery and equipment.
Working closely with our valuation team, we were able to rapidly appraise Schuff’s real estate properties and determine a fair market value to lend against. Along with the collateral coverage, Gordon Brothers had confidence in the strength of Schuff’s management team and its diverse pipeline of contractual construction projects. The financing allowed Schuff to strategically purchase back stock, increasing value for remaining shareholders while returning majority ownership of the company to the Schuff family.