FGI Provides $21.3MM Revolving Facility and $3.7MM Term Loan for Advanced Lighting Technologies
“We could not be more impressed with the work that FGI has done for us. Not only were they able to navigate the complexities of multijurisdictional finance but were able to do so with creativity and complete flexibility. It was remarkable how adaptable FGI was when asked to operate in all the different entities we required. Their success has made us even more excited about the future, and we can’t wait to grow now that our groundwork has been laid”
Advanced Lighting Technologies, LLC (ADLT) is an innovation-driven designer, manufacturer and marketer of energy efficient commercial lighting products, components, and systems. In addition, ADLT is also a producer of highly engineered materials including specialty chemicals, precision glass optics, and thin film coatings, operating under two primary business units: lighting and materials. Their focus in responsible innovative lighting solutions supports the growing global movement to decrease energy consumption.
Through a series of sales and restructurings, ADLT successfully underwent a recapitalization which was met with great interest. Shortly after, it was picked up by Gallant International, whose focus is also on the production of sustainable goods. Gallant International saw the value that ADLT could provide given their track record of ethical solutions and wanted to join forces in the hopes of becoming a more synergistic organization. However, as ADLT was comprised of a large number of entities spread across 4 continents, challenges arose when looking to finance the group as a whole.
As FGI has a proven track record of handing multijurisdictional deals, they possessed the ideal solution for ADLT, successfully closing a $25MM facility for the company, covering five entities in US, UK, and Germany. FGI was able to create additional availability for ADLT by structuring a term loan against their US property, giving them enough headroom for working capital moving forward. FGI’s ability to provide the funding across three different jurisdictions simultaneously was made possible due to their flexibility and their experience in dealing with the intricacies of multiple entities and asset classes. FGI’s financing was coupled with an additional cash equity infusion from a New York-based investment company, and Gallant International has now officially been absorbed as part of the ADLT family of companies.
