FGI Closes $40MM Facility to Support Acquisition of ScanSource’s former European
New York, December 15, 2020 – FGI Worldwide LLC (“FGI”) is delighted to announce the completion of a $40MM ABL facility for ScanSource’s former business in Europe. The facility was used, in part, to fund a portion of the acquisition by a Charlotte based family office and to support the company’s future working capital requirements.
The new Company will be headquartered in Brussels, Belgium. They are a leading global provider of technology products and solutions. The business activity is focused on point-of-sale, barcode, physical security, video, voice, data networking and technology services. The acquisition of the European division, which includes the UK, Belgium, France and Germany, was part of ScanSource’s strategic portfolio repositioning to align investments with higher growth and margin businesses.
Victoria Levine, Business Development Director of FGI, said, “We are thrilled to support this acquisition which came with an aggressive timeline requirement. FGI was extremely impressed by the dedicated leadership of the business. Combined teamwork ensured certainty of execution and enabled this facility to close from start to finish in under 35 days. We look forward to working with all the ScanSource Europe team to meet their future goals.”
FGI is a global leader in the commercial finance and services industry, equipping small and medium enterprises with the tools they need to safely grow their business. FGI’s two principal business units, FGI Finance and FGI Risk, provide clients with flexible and customized lending and risk mitigation solutions designed to support international and domestic growth. Headquartered in New York City, FGI maintains a presence on six continents with clients in over 60 countries around the world.
ScanSource, is a leading global provider of technology products and solutions, focusing on point-of-sale, barcode, physical security, video, voice, data networking and technology services. ScanSource’s teams provide value-added solutions and operate from two segments, Worldwide Barcode and Security and World Communications and Services. ScanSource is committed to helping its resellers and sales partners choose, configure, and deliver the industry’s best solutions across almost every vertical market in North America, Latin America, and Europe.