CHICAGO, Feb. 8 /PRNewswire/ -- Bridge Opportunity Finance today announced the completion of a $6 million revolver and $1 million term loan to provide the financing for ITP-CICO Pacific, LLC’s (“ITP”) acquisition of CICO Enterprises, Ltd. (“CICO”).
CICO, engaged in the distribution of paper, packaging, janitorial, and food and service supplies, is headquartered in Aiea, Hawaii. The company maintains five locations in total with two in Waipahu, Hawaii, two in Hilo Hawaii, and one location in Tamuning, Guam. The acquisition financing will allow the company to expand beyond their Hawaii footprint and utilize the ITP knowledge, patent technology and expertise to expand its product depth and grow the business.
“We are very pleased to be working with Bridge Opportunity Finance in our growth efforts,” said Lance Kerr, President and CEO of CICO. “This partnership enables us to enhance our technology, strategy and realize efficiencies that translate into more comprehensive products and services for our clients.”
“We are glad to have the opportunity to finance CICO’s growth and development,” says Randy Abrahams, President and CEO of Bridge Healthcare Finance. “For Bridge, this loan is also part of an important effort to reach out to industries beyond healthcare, and to diversify into industry areas where we are familiar and comfortable that our products apply.”
Bridge is already an established player in the health care lending arena. With the CICO facility, Bridge validates recent efforts to broaden its finance offerings in other industries.
About Bridge Healthcare Finance
Bridge Healthcare Finance offers a combination of comprehensive loan products, decades of financial expertise and an unparalleled service approach unique to the healthcare lending industry. Through accounts receivable, cash flow and real estate based term loan lending products, Bridge is able to address the differing capital needs of the healthcare industry. Bridge is based in Chicago, Illinois with offices in the Northeast and Southern California.
Bridge Healthcare Finance
CONTACT: Jason Bragg, Chief Financial Officer of Bridge HealthcareFinance, +1-312-334-4453
