NEWS & UPDATES
Chicago, IL/Denver, CO (July 2008) Houlihan Smith & Co., Inc. acted as the exclusive advisor in arranging a $14 million credit facility for Hill Enterprises, Inc., dba Hill Petroleum, as announced by Charles Botchway, Group Managing Director and Vice Chairman of Houlihan Smith & Co., Inc. The transaction was led by Houlihan Smith Managing Director Reginald McGaugh.
"This facility represents a significant opportunity for both Hill Petroleum and Bridge Finance Group with syndication partner U.S. Bank," said McGaugh, who worked directly with Bridge Finance Group to establish the facility. "The facility will be used to support the continued growth of Hill as the leading fuel marketer and distributor in Colorado."
Founded in 1982, Hill Petroleum is a large-scale bulk oil, lubricant, and fuel distributor serving customers in Colorado and five adjacent states. The company provides a wide variety of gasoline, diesel, and lubrication products and services to clients in multiple industries, including energy, brewing, mining operations, food processing, construction, and transportation. Hill Petroleum, the leading fuel distributor in the state of Colorado, has long-term distribution agreements for premium brands including Chevron, Sunoco, and Sinclair.
"This financing provides us with an opportunity to further improve our customer service with key commercial clients," said Troy Hill, Vice President and General Manager of Hill Petroleum. "For example, we can significantly expand our product offerings related to propane to our existing client base. This facility provides a significant platform for growth and allows us to maintain our position as the market leader in Colorado."
U.S. Bancorp (NYSE: USB), with $242 billion in assets, is the parent company of U.S. Bank, the sixth-largest commercial bank in the U.S. The company operates 2,522 banking offices and 4,844 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses, and institutions.
Bridge Finance Group offers a combination of comprehensive loan products, decades of financial expertise, and an unparalleled service approach unique to the lending industry. Through accounts receivable and inventory revolving loans, equipment, cash flow, and real estate based term loan lending products, Bridge addresses the wide-ranging capital needs of its customers. Bridge is based in Chicago with offices in the Northeast, Southeast, and West Coast.
Houlihan Smith & Company, Inc. ("Houlihan") is a specialized investment banking firm that provides advisory, financing, and valuation services to public and private businesses. Houlihan is a registered broker-dealer and FINRA/SIPC Member. Houlihan is affiliated and works closely with Houlihan Valuation Advisors, a leading valuation firm with offices throughout the U.S., providing a team of industry experts to efficiently handle complex client engagements.
Houlihan understands the time sensitivity of corporate finance, and responds quickly and tenaciously to opportunities. The Houlihan approach creates corporate finance transactions in which business owners and investors mutually benefit. We have the knowledge, experience and relationships to match buyers and sellers, as well as to match the appropriate financing and capitalization structure to each unique client situation. The Houlihan name is synonymous with professional financial expertise. We provide cost-effective fairness and solvency opinions, as well as valuations for tax and financial reporting to some of the largest NYSE/NASDAQ companies, as well as small, privately held businesses.