USA
2020
DEBT ADVISORY
“VfD has funded its prior acquisitions with management and board equity and prudent use of bank leverage. Acquiring Isimac was a major step for the company, requiring capital beyond our capacity based on internal resources and traditional bank debt. FOCUS introduced us to a number of subordinated and mezzanine debt providers, giving us good options to complete the process”, says Patrick Thornton, VfD CFO. “We chose Tecum in part because of their deep knowledge of precision manufacturing as well as their Pennsylvania roots. It turned out to be a great choice. COVID19 disrupted the timing of the deal and Tecum stuck with us throughout, honoring their original commitment and overcoming the various obstacles we faced due to the pandemic.”
Stephen Gurgovits, Jr., Managing Partner of Tecum, stated, “VfD is an opportunity for Tecum to get back to its roots of backing experienced management teams. The VfD Team has a demonstrated track record of creating both organic and acquisitive growth opportunities while instituting operational excellence across the business units. Tecum is excited to support VfD’s next stage of development.” Regarding Tecum’s relationship with FOCUS, he added, “We value the FOCUS team’s nuanced advisory approach and its relationships with high-quality businesses across our core industries. We’re thrilled to work with them in support of VfD’s continued growth.”
FOCUS Managing Director Fred Rock shared, “We’ve worked closely with Tecum for a number of years and knew them to be very competent and knowledgeable in the precision manufacturing space. VfD is a great company and we were confident that they would be the type of firm with which Tecum would want to do business. As a Pennsylvania native, I was glad we could match VfD with such a strong ‘home team’ player.”