GRAND RAPIDS, Mich., June 11, 2020 /PRNewswire/ -- GVM Inc. of Biglerville, PA, an American manufacturer of high-end agriculture equipment called Prowler Double Duty Spreaders and Mako Sprayers, has exited Chapter 11 Bankruptcy in a transaction with Liquid Finance. With the reorganization, GVM has cleaned their balance sheet, allowing them to continue manufacturing state of the art agriculture and snow equipment in their facilities in Ohio, Pennsylvania, Missouri, and Indiana. Liquid Finance structured a transaction that helps GVM grow distribution across North America.
The transaction was finalized May 28, which allowed GVM to exit bankruptcy protection and fulfill orders for farmers and agricultural co-ops across the USA.
"This saves American manufacturing jobs and continues GVM's agriculture innovation which in turn helps American crop yields," said William Melvin, CEO of Liquid Finance. "It's pretty cool to accomplish this in the post COVID-19 world. GVM manufacturers the best fertilizer spreaders in the world, and this transaction allows them to continue their growth across North America. We believe their success could help increase food yields globally in the next 10 years, plus their snow products help state departments of transportation reduce costs."
GVM operates locations in Pennsylvania, Ohio, Indiana, Missouri, Georgia, Washington, and California, distributing product throughout the US, Canada, and Australia. Their equipment provides farmers and Agricultural retailers the highest Return on Investment (ROI) in the market. GVM products include the Prowler, Mako, Double Duty Twin Chain Spreader, GVM Air and T-Series Booms, and Hydra Spreaders. GVM's industry leading Snow Anti-icing and Brine systems save costs for State Transportation Departments across the east coast.
"Liquid Finance is excited to assist with GVM's success. When we met with the GVM team, we learned they had some unique challenges ahead of them," said Melvin. "We see value and find solutions that other finance companies struggle with. We were able to structure a transaction that allows them to clean up their balance sheet, lower costs, and get back on their feet to grow in the years ahead. It's great to help save American manufacturing jobs and American innovation. Farmers can sleep at night knowing the GVM Prowler is keeping their crops safe."
Liquid Finance is an asset based finance company that structures unique transactions that help companies in distress. They see value and solutions to help companies grow. Liquid Finance helps manufacturers, retailers, and wholesalers in distressed special situations when they are looking for strategic alternatives. They operate with term loans, asset based loans, sale leasebacks, Debtor-In-Possession loans, bankruptcy exit loans, and other high stress special situation finance. With field staff across North America they can quickly review transactions and submit proposals within tight timelines. Their typical deal size is $1million to $50million.
Interested parties can find more information on their website www.LiquidFC.com
SOURCE Liquid Finance Co