LOS ANGELES, Nov. 10, 2016 /PRNewswire/ -- Great American Capital Partners, LLC (GACP), has entered into an agreement with Excel Corporation, a leading provider of integrated financial and transaction processing services, to provide a $25 million senior secured credit facility. Proceeds will be used to refinance existing debt and provide additional liquidity for future acquisitions.
"The Great American team showed remarkable attention to and understanding of our capital needs, responding with a creative financing solution," said Excel CEO, T. A. "Kip" Hyde, Jr. "Great American's flexible solution provides us with the necessary growth capital to execute on our strategy of becoming a significant merchant acquirer in the U.S. market."
John Ahn, president of GACP, commented: "Our industry experience and deep valuation expertise allowed us to demonstrate our ability to help growth companies like Excel Corporation succeed with the advantage of our client-focused mindset and our non-traditional tailored financing solutions. We look forward to building upon our new relationship and working with the Excel team to execute the company's many growth initiatives."
About Excel Corporation
Headquartered in Irving, Texas, Excel Corporation provides integrated financial and transaction processing services to small and medium size merchants throughout the United States. Excel delivers its products and services through a national network of independent sales representatives, ISOs and agent banks. Excel subsidiary, eVance Processing Inc., provides an integrated suite of payment processing services and payment solutions, including credit, debit and gift/reward card processing, with ACH and mobile payments solutions including Apple Pay and Android-based applications. Merchants can choose from multiple payment gateway solutions for both "brick and mortar" and Internet-based businesses. Go to: evanceprocessing.com for more information. eVance Capital, another Excel subsidiary, offers merchant cash advance and business loan products to its SMB customers. Go to: evancecapital.com for more information. Additional information about Excel can be found at www.ExcelCorpUSA.com.
About Great American Capital Partners, LLC
GACP, a division of B. Riley Capital Management, an SEC Registered Investment Advisor and a wholly owned subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY), originates and underwrites senior secured loans across a wide array of industries. GACP is dedicated to providing opportunistic and responsive capital to the underserved middle market.
B. Riley Financial, Inc. is a publicly traded, diversified financial services company which takes a collaborative approach to the capital raising and financial advisory needs of public and private companies and high net worth individuals. The Company operates through several wholly-owned subsidiaries, including B. Riley & Co., LLC (www.brileyco.com), Great American Group, LLC (www.greatamerican.com), and B. Riley Capital Management, LLC (which also includes B. Riley Asset Management (www.brileyam.com) and B. Riley Wealth Management, (www.brileywealth.com). The Company also makes proprietary investments in other businesses, such as the acquisition of United Online, Inc. (www.untd.com) in July 2016, where B. Riley Financial, Inc. is uniquely positioned to leverage its expertise and assets in order to maximize value.
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