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May 29th 2011
LockeBridge Investment Banking announced today that it has acted as exclusive financial advisor to MetaSoftware, Inc. in securing a complex financing line as an alternative to a standard revolving credit line for the business. Based in Massachusetts, MetaSoftware, Inc., is a leading provider of Enterprise Capacity Planning & Workforce Optimization Software to major banking institutions in North America.
According to Mr. Bob Seltzer, CEO of MetaSoftware, Inc, “During the banking crisis over the last few years the Company had extended payment terms through multi-year license agreements to several global banking organizations. While we pride ourselves in our flexibility in how we structure our business terms to assist our clients, our growth requires that we in turn have access to credit. Like many small business, during 2009 and 2010 we found, to our dismay, that conventional financing lines were largely unavailable. We were very fortunate to engage Lockebridge who, despite insurmountable odds, secured the desired financing in a matter of weeks. LockeBridge’s deep industry contacts, creative financial engineering and strategic advice has been invaluable to us and is greatly appreciated.”
Mr. Scott Waxler, Managing Partner of Lockebridge states, “Accomplishing MetaSoftware’s objectives during the height of one of the tightest global debt markets was certainly a challenge. We are proud to have assisted MetaSoftware, as well as numerous other companies, increase their liquidity during a critical time in their operations.”