Opus Bank is pleased to announce it provided:

Title: Seattle Safety
Amount: $3,500,000
Month: September
Year: 2015

Seattle Safety

Opus Bank’s Commercial Banking division provides $3,500,000 in credit financing to Seattle Safety, LLC

Overview of Transaction

  • Seattle Safety, LLC (“Seattle Safety”) specializes in crash testing systems. The company’s broad line of crash testing products includes Servo-hydraulic sleds (ServoSled), dynamic pitch and yaw, advanced technology barrier systems, and high-intensity LED lights.
  • One of the co-founders reached an agreement with another equity holding member for a 100% equity buyout. The co-founder looking to acquire Seattle Safety desired a customized financing structure to accommodate the selling member’s equity in two phases.

Significance of Transaction

  • Opus Bank (“Opus”) provided a $2,250,000 Senior Secured Term Loan to finance the first payment of the member equity buyout.
  • Additionally, Opus provided a $1,250,000 Senior Secured Non-Revolving Line of Credit to finance the second and third payments of the member equity buyout.

Opus Bank's Role

  • Opus worked with Seattle Safety’s executive management to understand the member equity buyout, and then Opus put in place a capital structure that met the goals of both the company and the new controlling equity member.
  • Opus’ solution allows the company to continue executing their growth strategy in an effective manner.

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