Last Call Analytics
Last Call Analytics is the developer of a big data analytics and visualization platform for the beverage & alcohol industry. The company was transitioning from a project-based model to a SaaS revenue model. It planned to raise equity in a Series A to expand the sales funnel and convert existing contracts.
While a Series A was within reach, it would have caused dilution for existing shareholders and would have taken time.
FirePower's lending team recognized the company provided significant EV coverage and strong recurring contract value, combined with a well-marked pipeline for 2017 and a top-tier product.
The team quickly proposed a senior facility with a 12-month term (interest rate only, no warrants), which could be extended if recurring revenue milestones were met. This allowed the company to have the certainty of available capital as the business plan played out, while reducing interest cost as only a portion of the facility was required upfront.
FirePower was engaged to prepare PrintFleet for an exit to strategics, and guide the company through to closing. Four weeks before closing, the buyer with whom PrintFleet signed an LOI following a competitive auction, a Japanese Fortune 500 company, terminated the deal because of an internal reorganization. Far from giving up, FirePower re-ignited conversations with a Texas-based strategic who had done well in the auction, and closed without any major challenges at an attractive price, terms and conditions.
Applied Comfort is a designer and manufacturer of non-standard HVAC systems for commercial, industrial and institutional facilities. FirePower guided the company in its search for a strategic partner, concluding a transaction with a UK-based strategic, with a complementary product portfolio and distribution capabilities.