Reflecting on 2024, one word defines GBC’s journey: Growth. This was highlighted by our business development team expansion, new and continued partnerships, and key wins with both new and existing clients.
Our growth story was evident by a significant milestone: We crossed $1 billion in lifetime commitments for the first time and achieved record assets under management. In addition to booking new clients, we experienced expanded relationships with many of our existing portfolio clients, enabling them to achieve their growth goals.
GBC also saw a resurgence of former clients returning for financing. This is a powerful reflection of the exceptional quality of our services and the enduring strength of our relationships.
Industry Expertise and Key Partnerships
Gibraltar experienced new client growth across all sectors and found particular success this past year in the consumer products sector as we capitalized on consumer-driven innovation trends. Meeting the demand of this unique and complex sector often requires significant capital investment, which can be challenging for high-growth, dynamic brands to secure through traditional financing.
Along that same thread, we strengthened our relationships with financial sponsors, completing multiple repeat transactions with the same groups. Gibraltar prides itself on meeting the unique needs of this community by working faster, meeting deadlines, and facilitating across multiple parties while being flexible and responsive to changes throughout the transaction lifecycle.
Key partnership highlights:
● A $13MM ABL to the Integrated Beverage Group represented a repeat financing relationship for the client and its financial sponsor, Juggernaut Capital Partners.
● A $20MM commitment to second-generation honey company GloryBee Natural Sweeteners was featured in The Secured Lender’s November 2024 Edition, emphasizing our expertise in navigating complex financial transactions.
● A deepened partnership and track record with Ten Oaks Group resulted in the support of Aegus Group. Ten Oaks Group is a family office focused on investing in corporate divestitures.
“Our previous successful experience working with GBC on another portfolio investment gave us the confidence they could provide a quick and efficient diligence and closing process, as well as being a trusted financial partner who could assist us in creating shareholder value over the life of the relationship.” – Matt Magan, Co-Founder at Ten Oaks Group.
Portfolio Client Success Stories
Our dedication to client success remained unwavering as we proved our services’ strengths by expanding and retaining strong client relationships. We saw numerous return client requests for financing as other lenders—both traditional and non-bank—were not always able to meet client needs or deliver on promised terms.
We strengthened relationships with many of our existing portfolio clients, including recently expanding the ABL facility with pharmaceutical distributor Prodigy Health to $30MM to fund working capital to support the growth of a new business model.
Team Expansion and Company Recognition
2024 saw the expansion of our business development team in the critical Northeast region with the addition of Joe Messineo as SVP with 25 years of lending experience creating customized capital solutions for lower middle-market businesses. Our commitment to professional development was recognized by ABF Journal, which named GBC a top company in specialty finance.
Also noteworthy was the achievements of Lisa Adams, senior vice president of originations at GBC, who was recognized as one of the ABF Journal’s Top Women in ABL.
We couldn’t be prouder of our employees’ hard work and loyalty. Our people are our greatest asset.
Looking Ahead to 2025
2024 was a year of remarkable growth and achievement for GBC. We’re grateful for the trust our clients and partners have placed in us and are energized by the opportunities that lie ahead. As we move into 2025, we anticipate favorable conditions with decreased interest rates by the Fed and the conclusion of the election cycle.
We’re excited about our plans to expand our in-market capabilities and look forward to sharing more news about this. Stay tuned!
As you finalize your 2025 strategic plans, don’t hesitate to contact our expert sales team to explore your financing options.
