HINGE Closes Financing Deal for New England Childcare Organization
On Friday, December 7, HINGE Brokers assisted a prominent New England childcare owner with the financing necessary to acquire a struggling childcare operator and their accompanying real estate.
One of our investor partners provided 100% financing for this large, multi-site operator, who has the heft to command this type of financing structure. The funds will be used for the initial business and real estate acquisition.
Also, a reserve account was established to pay for an extensive remodeling of the interior and exterior of the building so that it will eventually be synchronized with the high-end image of the rest of the client’s portfolio.
The closing occurred 38 days after the Letter of Intent was signed. This is not always possible, but due to HINGE’s upfront work in the initial assessment, packaging and underwriting of the deal, and our familiarity with the client and the financier, we were able to accommodate the client’s fast-track requirements. This is often one of the paramount requirements for purchases of struggling operators.
HINGE recommends that acquirers allow themselves sufficient time on transactions to avoid post-close problems, but sometimes this is not possible. In this case, we were able to make it work!
To learn more about how HINGE Brokers can support your buying or selling needs, please contact us at firstname.lastname@example.org.