Background
The Client is the largest construction/ general contractor company in the Pittsburgh, PA region
Industries served by the client include hospitality, timeshare, multifamily/ senior living, energy, sports, and retail
The Client has consistently ranked among the Top 10 Contractors in the United States
Company Challenges
Highly cash flow constrained
The Client struggled with stretched payables demand and less profitable terms, which constricted margins, operating leverage, and the company’s ability to generate new and profitable business
Capstone’s Solution
Began with a $15 million Master Factoring Facility and a $5 million Purchase Order Financing Facility to inject the working capital required for supporting their backlog of projects
Progress and Future Outlook
Constraints drastically eased on cash flow
Timely payments are being made to vendors
Currently doing $20 million on a monthly basis on both Factoring / PO Facilities
The Client can now focus on the rapid growth of their company-revenues have doubled on a monthly basis
Capstone is funding 6 active projects:
- Four Seasons Resort in Bermuda- $173 million contract
- Half Moon Bay Hotel in Jamaica- $50 million contract
- Ritz-Carlton Napa Valley in Calistoga, CA – $123 million contract
- Belmond Cap Juluca in Maundays Bay, Anguilla – $75 million contract
- Ritz Carlton Resort in St Thomas, US Virgin Islands – $55 million contract
- Rosewood Little Dix Bay Resort in Virgin Gorda, BVI – $73 million contract
