We have strong relationships with leading manufacturers such as Invensys Process Systems. During this severe recession, The Houlihan Firm has strengthened our position and allowed us to accelerate our growth even during these tough economic times. I appreciate the contribution by Barry Peterson and his team in accomplishing this financing
Chicago, IL/Wallingford, CT (Vocus) October 23, 2009
Houlihan Smith & Company, Inc. acted as the exclusive advisor in arranging a credit facility for Weiss Instrument, LLC, it was announced by Charles Botchway, Group Managing Director and Vice Chairman of Houlihan Smith.
The credit facility was provided by Wells Fargo Business Credit. The transaction was led by Houlihan Smith Managing Director Barry Petersen. Terms were not disclosed.
"This facility allows Weiss the working capital to execute substantial pending growth opportunities," Petersen said. "We look forward to working alongside the company's management as their advisor as they continue to roll out and execute their strategy." Petersen worked directly with Wells Fargo to establish the facility.
Founded in 1965, Weiss Instrument has been a manufacturer's representative primarily selling various categories of instrumentation and controls, uninterruptible power supplies, gas monitoring, process equipment and variable frequency drives to the power, water, and wastewater utilities and industrial clients. Weiss operates from locations in Connecticut and Pennsylvania. Weiss Instrument is a leader in automation and control technology in the industrial and utility sectors.
"Houlihan Smith identified and secured a facility that would work for us," said Surendra Patel, Weiss Instrument President and CEO. "We have strong relationships with leading manufacturers such as Invensys Process Systems. During this severe recession, The Houlihan Firm has strengthened our position and allowed us to accelerate our growth even during these tough economic times. I appreciate the contribution by Barry Peterson and his team in accomplishing this financing," Patel said.
About Wells Fargo:
Wells Fargo & Company (NYSE: WFC) is a diversified financial services company with $1.3 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 10,400 locations across North America and around the world.
About The Houlihan Firm:
Houlihan Smith & Company, Inc. ("Houlihan") 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.