Opus Bank is pleased to announce it provided:

Title: Coast Environmental
Amount: $3,216,000
Month: April
Year: 2015

Coast Environmental

Opus Bank’s Commercial Banking division provides $3,216,000 in debt financing to Coast Environmental Duct Cleaning, Inc.

Overview of Transaction

  • Coast Environmental Duct Cleaning, Inc. (“Coast Environmental”) is a leading Indoor Air Quality (IAQ) and life safety services provider to hospitals and healthcare facilities throughout the West Coast.
  • Coast Environmental’s current President desired the capital financing necessary to buy out the company’s other shareholders and acquire 100% ownership.

Significance of Transaction

  • Opus Bank provided a $2,466,000 term loan for the shareholder buy-out, as well as a $750,000 revolving line of credit for working capital to allow management to grow the business and hire additional employees.

Opus Bank's Role

  • Opus Bank worked closely with Coast Environmental’s executive management to understand the timing requirements for the close of the acquisition and was able to close the loans on a very strict schedule that allowed for a tax efficient transaction for the seller.

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