Chicago, IL (Vocus) September 17, 2009
Houlihan Smith & Company, Inc. acted as exclusive financial advisor and placement agent in arranging a credit facility for its client, Rigging Services, Inc. ("Rigging") it was announced today by Charles Botchway, Group Managing Director and Vice Chairman of Houlihan. The credit facility was provided by New Jersey-based Quantum Corporate Funding, LTD. The transaction was led by Houlihan Smith Managing Director Sylvester Gbewonyo. Terms of the deal were not disclosed.
"In the ever-changing credit market, it was refreshing to work with Houlihan Smith," said Everett Bross, President of Rigging Services. "They possess the vision and foresight necessary to navigate the treacherous credit market waters. With their guidance and support, we were able to secure the bridge financing necessary to open the doorway to a more certain future. Innovation and forward thinking are the words that best describe my experience with Houlihan Smith, and I highly recommend their expertise to any company seeking to walk through the doorway of future opportunity."
Rigging Services, Inc, based in Rockford, Ill., provides heavy machinery moving and steel erection services to a wide range of clients. The Company's machinery moving division helps manufacturing companies move heavy machinery around a plant, across the country, or to and from a liquidation auction, among other activities. For the most part, the Company engages with firms within a 75-mile radius of its headquarters, serving the greater Chicago area.
About Rigging Services, inc.:
Rigging Services' structural steel division specializes in steel erection on nonresidential construction projects and maintains relationships with general contractors and fabricators nationwide, which supply the Company with a steady flow of opportunities. Additionally, it maintains relationships with several steel contracting unions, which allows the Company to procure workers throughout the U.S. when necessary.
About Quantum Corporate Funding, LTD.:
Quantum is a nationwide asset-based lender and factoring company, helping small to medium-sized business fund their capital requirements. Quantum seeks to create value by establishing financing relationships with exceptional management teams offering a unique vision for growing and expanding their businesses.
About Houlihan Smith & Company, Inc.:
Houlihan Smith & Company, Inc. is a specialized investment banking firm that provides advisory, financing, and valuation services to public and private businesses. Houlihan is a registered broker-dealer and FINRA/SIPC Member. Houlihan understands the time sensitivity of corporate finance, and responds quickly and tenaciously to opportunities. The Houlihan approach creates corporate finance transactions in which business owners and investors mutually benefit. We have the knowledge, experience and relationships to match buyers and sellers, as well as to match the appropriate financing and capitalization structure to each unique client situation. The Houlihan name is synonymous with professional financial expertise. We provide cost-effective fairness and solvency opinions, as well as valuations for tax and financial reporting to some of the largest NYSE/NASDAQ companies, as well as small, privately held businesses.