Destination Hope
Company: Destination Hope (“DH” or “Company”
Financing Amount: $6,500,000
Financing Date: December 31, 2019
About the Company
Destination Hope is a multi-level Mental Health/Substance Abuse treatment center focused on providing cost-effective and quality treatment services to the communities of Broward County, the State of Florida, and the nation at large. DH added a Detox and Residential facility to provide a more complete program; Physical Detox and Residential therapy 7 days a week. The Company’s mission is to promote the well-being of the individuals and families by providing accessible, quality Mental Health/ Substance Abuse-Addiction care for adults and their families, utilizing a service system that emphasizes trust, respect, confidentiality, and compassion. DH is committed to quality treatment that is provided in a collaborative effort with both the client and their families. We are further committed to the philosophy that we exist for the client.
Situation
As is the situation with many companies, Destination Hope had multiple levels of debt on their books. In order to effectively grow the company and get some working capital, Company needing a financing partner to not only restructure their debt to a lower cost, they also needed some additional working capital for their expansion efforts. They were looking to clear some of the debt on their books so they would have a clearer runway to growth and expansion.
Solution
Alantes secured a $2,000,000 Line of Credit, a $3,000,000 Term Loan and a $1,500,000 Term Loan based on the company’s assets and overall enterprise value. The facility was contemplated to replace high priced debt in addition to paying off outstanding IRS payroll tax liabilities. Alantes was able to underwrite and secure multiple lenders who were willing to work together to not only pay off the outstanding payroll taxes but also to replace existing senior lenders and provide some working capital for the Company. “Despite the many complexities and complications with the financing, the Alantes team was able to successfully structure a product that would not only restructure the debt, but also provide some working capital for the operation of our business,” said President Benjamin Brafman. “The financing process certainly took a few unexpected turns but Alantes was able to deftly navigate the maze and we were ultimately successful in the capital raise. I couldn’t be happier with the conclusion and results from the efforts of the Alantes team.”
About Alantes
Alantes Corporate Finance (“Alantes”) specializes in capital raises and strategic advisory for small to middle market businesses across the nation. Our team prides itself on our ability to provide unique solutions for all of your business needs. Whether you’re looking to acquire a new company or additional working capital for operations, Alantes is your trusted source for business growth and expansion. Our multi-faceted approach allows us to craft creative solutions that adds value at the most critical junctures so you can focus your resources on core business activities.
For more information on this transaction, contact Alantes Corporate Finance at info@alantes.com
Alantes Corporate Finance, LLC
510 5th Avenue, 3rd Fl
New York, NY 10036
www.alantes.com
