Bridge Bank Provides Senior Debt Financing to Support the Leveraged Buyout of Trade Supplies, LLC by Sole Source Capital
SAN JOSE, Calif., July 31, 2018 /PRNewswire/ -- Bridge Bank today announced its Corporate Banking group, which provides cash-flow senior financing for private equity sponsored lower-middle market companies, has provided senior debt financing to support the leveraged buyout of Trade Supplies, LLC by Sole Source Capital.
Trade Supplies, LLC, founded in 1975, is headquartered in Los Angeles and maintains facilities in both Southern California and the San Francisco Bay Area. They are a leading distributor of non-perishable food service disposable items, packaging solutions and janitorial supplies serving a variety of businesses including major chain restaurants, caterers, bakeries, schools, large public venues, hospitals, health care facilities, food processors, and family-owned restaurants.
"At Bridge Bank, we are committed to supporting private equity sponsors by providing flexible financing structures with speed and certainty," said Rick Lamoreux, senior vice president in Bridge Bank's Southern California Corporate Banking group. "We are pleased that we could support Sole Source Capital in their acquisition of Trade Supplies, LLC, a company that is focused on providing their customers with the highest levels of service. All of us at Bridge Bank believe what they are doing is exceptional and we look forward to their continued growth and success."
"This is the first of what we hope to be many transactions with Bridge Bank," said Scott Sussman, a partner with Sole Source Capital. "We were impressed with their flexibility and the speed in which they executed the transaction. It was a real pleasure working with the Bridge Bank team."
About Bridge Bank
Bridge Bank is a division of Western Alliance Bank, Member FDIC, the go-to bank for business in its growing markets. Bridge Bank was founded in 2001 in Silicon Valley to offer a better way to bank for small-market and middle-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank offers a broad scope of financial solutions including growth capital, equipment and working capital credit facilities, sustainable energy project finance, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans, ESOP finance and a full line of international products and services. Based in San Jose, Bridge Bank has eight offices in major markets across the country along with Western Alliance Bank's powerful array of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. One of the country's top-performing banking companies, Western Alliance ranks #2 on the Forbes 2018 "Best Banks in America" list. For more information, visit bridgebank.com.
About Sole Source Capital
Founded in 2016 by David Fredston, Sole Source Capital is an investment firm focused on lower middle market companies. SSC is an operationally intensive firm that acquires and operates companies in a broad range of industries, including manufacturing, distribution, environmental services, oilfield services metals services, and other industries. The firm is headquartered in Santa Monica, CA and targets investments across North America.
About Trade Supplies, LLC
Trade Supplies is a leading distributor of nonperishable foodservice disposable items, dry-grocery items, packaging solutions, and janitorial supplies across the Western United States. The company carries over 7,000 stocked products including eco-friendly packaging, paper and plastic disposables, unique catering items, janitorial supplies, healthcare facility products, and foodservice small wares and equipment. Trade Supplies was acquired by current management in 2004 and has grown quickly due to its superior service levels, strong sales staff, and high-quality leadership.
SOURCE Bridge Bank
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