LCG Successfully Completes a $7.6 million Debt Refinancing for Titan Metal Service, Inc., a Steel Manufacturing Company Located in Tampa
FOR IMMEDIATE RELEASE
Contact: Brian Smith
LCG Capital, LLC
LCG Capital Announces the Successful Completion of a $7.6 Million Debt Refinance for Titan Metal Service, Inc.
Tampa, FL (August 18, 2011) The Tampa office of LCG Capital Advisors, LLC (“LCG Capital”) is pleased to announce the recent completion of a $7.6 million debt refinancing for Titan Metal Service, Inc. (“Titan”), a steel manufacturing company located in Tampa, FL.
LCG Capital began working with Titan immediately following the market decline when construction activity came to a grinding halt and customers pulled orders leaving the company in a difficult position with its creditors. With LCG’s assistance, Titan’s management was able to successfully navigate through the recession and emerge stronger and more competitive as a result. The new financing, provided by Chicago-based Cole Taylor Bank Business Capital, provided additional working capital and allowed the company to retire its existing bank debt. LCG’s Managing Partner, Brian Smith stated, “It’s incredibly rewarding to have worked with a company from the beginning of the economic crisis and help them come through stronger than before. I commend Titan’s management team for their hard work and determination during this period.”
Matt Rossi, Titan’s co-owner and General Manager stated, “Cole Taylor was a great fit as they know the steel industry and took the time to understand our business and the market we serve, which allowed them to offer a structure that worked for us.” He also added, “LCG was there for us during the tough times and when it came time to refinance they saved us nearly $1 million by bringing in the right financial partner.”
About LCG Capital Advisors, LLC
With offices in Tampa, LCG is a boutique investment banking firm that assists companies in a wide range of transactions, specializing in mergers and acquisitions, corporate debt placements, commercial real estate finance, growth capital, management and leveraged buyouts and transaction advisory services. The company has a reputation for handling complex transactions, and has built relationships with some of the nation’s largest funding sources, including banks, specialty financing companies, hedge funds and private equity firms. For more information regarding LCG Capital Advisors, LLC, a Florida limited liability company, FINRA registered broker-dealer and SIPC member firm, please call (813) 226-2800 or visit www.lcgcapital.com.