Pancon Finds its Global Partner in FGI
“FGIs international expertise and experience in our industry had a major impact on structuring a global financing facility serving all our working capital needs. With this injection of liquidity Pancon is now able to take on new programs and ultimately meet our business goals and full potential.”
Pancon, backed by Milestone Partners III L.P., is an innovative manufacturer of highly engineered connectors and multilayer polymer capacitors. With a global reach including two international facilities, Pancon services a diverse market with an emphasis on automotive, industrial, medical and telecommunications.
With Pancon’s continuing global expansion and series of add-on acquisitions in recent years it became apparent that their US only facility could no longer support the business. Pancon was in search of a new lending relationship that could comfortably provide working capital not only in the US but abroad to their European operations primarily in Germany.
FGI was able to execute a structure including the US and German assets resulting in a $5,500,000 global facility. With the injection of additional capital Pancon is now able to grow their current programs as well as take on new customer relationships to grow the company’s revenue and profitability.