News Summary
Gordon Brothers has secured a CA$200 million financing deal for Morgan Construction, aimed at enhancing working capital, supporting new equipment purchases, and facilitating growth. The financing package includes a five-year revolving credit facility and an accordion feature, allowing for increased borrowing capacity. Alongside financial support, Gordon Brothers will provide long-term asset advisory services to ensure sustainable growth. This collaboration highlights Morgan Construction’s commitment to community involvement and operational excellence within Canada’s construction sector.
Gordon Brothers Facilitates CA$200 Million Financing for Morgan Construction’s Expansion
Gordon Brothers, a global financial services and asset management firm, has recently facilitated a significant financing deal worth CA$200 million (approximately $146.3 million) for Morgan Construction. This strategic agreement is set to bolster Morgan Construction’s operations by providing vital support for working capital, the purchase of new equipment, and overall business growth.
Details of the Financing Arrangement
The financing package includes a five-year revolving credit facility amounting to $109.8 million. In addition, the deal encompasses an accordion feature that allows for nearly $40 million in additional financing if necessary. This flexible structure enhances Morgan Construction’s ability to adapt to changing market conditions and pursue growth opportunities without delay.
Long-Term Support through Asset Advisory
To ensure sustained success, Gordon Brothers will also be providing comprehensive long-term asset advisory and consulting services through its subsidiary, Nations Capital. This collaboration is designed to combine lending and asset expertise for Morgan Construction, aiming for long-term growth in a competitive landscape.
Industry Significance
In the construction sector, Morgan Construction stands out as one of Canada’s premier heavy civil contractors, specializing in essential services such as earthworks, environmental solutions, demolition, and site development. Most of their work is concentrated in the energy and mining industries, contributing significantly to Canada’s infrastructure development. Headquartered in Edmonton, Alberta, Morgan Construction employs over 1,100 individuals and maintains beneficial partnerships with more than sixteen Indigenous communities, reflecting their commitment to community engagement and sustainable practices.
Commentary on the Partnership
The partnership between Gordon Brothers and Morgan Construction has garnered recognition within the industry. The leadership at both firms underscores this financing arrangement’s potential to catalyze growth and operational enhancement. They commend the respect and legacy that Morgan Construction embodies as a family-run business and a leader in its field. Gordon Brothers’ experience and expertise in equipment financing are viewed as indispensable for supporting Morgan Construction’s operational needs and future endeavors.
Gordon Brothers’ Approach
Gordon Brothers excels in creating tailored financial solutions for clients, managing to deliver both short- and long-term capital as necessary. The firm collaborates closely with management teams, private equity sponsors, and lenders to ensure that clients like Morgan Construction receive the necessary resources and counsel to thrive. With over 30 offices located strategically across North America, Europe, the Middle East, Africa, and the Asia Pacific region, Gordon Brothers has established a strong presence in Canada and is committed to offering customized solutions for Canadian borrowers.
A Legacy of Excellence
Founded in 1903, Morgan Construction has dedicated itself to maximizing liquidity through realizable asset value. The firm has a rich history and is known for its expertise in asset services, lending, financing, and trading. This combination of operational strength and financial acumen positions both Morgan Construction and Gordon Brothers favorably as they move forward in a rapidly evolving market.
As both firms aim to leverage this financing deal to fuel growth, the construction sector can anticipate continued innovation and progress, backed by a partnership that values long-term development and community engagement.
Deeper Dive: News & Info About This Topic
Additional Resources
- The Star: CA$200 Million Financing for Morgan Construction
- Home Textiles Today: Gordon Brothers Liquidity Boost
- Chain Store Age: Linen Chest Credit Facility
- Cleveland.com: Joann Employees at Risk of Layoffs
- Encyclopedia Britannica: Construction Financing
