Silver Spur Corporation
Opus Bank provides $10,200,000 in debt financing to Meridian General LLC. for the acquisition of Silver Spur Corporation
Overview of Transaction
- Silver Spur Corporation (“Silver Spur”), founded in 1978, is a premier independent bottle manufacturer and distributor located in Cerritos, CA.
- Opus Bank (“Opus”) provided $10,200,000 in acquisition and working capital financing to support the purchase of Silver Spur by Meridian General LLC (“Meridian General”).
Significance of Transaction
- Opus Bank provided a term loan based on Silver Spur’s cash flow to provide the debt component to Meridian General’s purchase of Silver Spur from the previous owner and founder.
- In addition to acquisition support, Opus provided working capital to support Silver Spur’s growth.
Opus Bank's Role
- Opus advised Meridian General regarding the optimal financing structure to match Silver Spur’s cash flows to the servicing of the acquisition-related debt.
- Opus provided a robust working capital facility to ensure the company’s ability to grow in 2015 and beyond.