When industrial service companies seek fast and effective financial solutions that will result in long-term results, many seek financial assistance from an institution they can trust.
A long-time friend of the industrial sector, Cadence Bank has serviced such companies for years. To highlight a recent example, Cadence has assisted Specialty Welding and Turnarounds (SWAT) in its growth.
Founded in 2014, SWAT started out as a specialty welding contractor. Initial challenges, surprisingly, are what led to SWAT’s rapid success and growth, which put a strain on working capital. As SWAT continued to grow, it developed a relationship with Cadence. The bank was, and still is, a strategic resource for SWAT, as Cadence strives to know and understand the business aspects of industry.
Over the last seven years, Cadence has been involved in almost every function of SWAT’s business, including assisting with working capital needs from the revolver perspective and the equipment financing side. Together, many opportunities and obstacles alike have been faced by the partnership as SWAT has grown over the years. Fortunately, related to the financial aspect of the business, the obstacles SWAT faced included areas Cadence specializes in. Having doubled revenue multiple times over the many years in partnership, Cadence has provided the financial support for SWAT to clear the hurdles.
In addition to its mission to ensure stability for its clients, Cadence helped fund and support SWAT’s rapid growth by remaining involved with the company’s termdebt and equipment financing. Cadence has grown SWAT’s revolver in pace with its revenue growth and continues to offer flexible solutions as SWATs’ needs change over time.
With Cadence aiding on the financial front, SWAT has largely seen success from its unencumbered employees who can focus on the priority of providing services to clients. As clients request SWAT’s services, it can provide undivided attention able to provide top-tier staff and grow exponentially without having to worry about working capital. SWAT has acquired multiple businesses in order to add catalyst and cooling tower services. It has also executed several renewable projects and explored new semiconductor opportunities with its thriving business landscape.
SWAT values its relationship with Cadence. The two companies are in constant communication as friends, colleagues and business partners. Cadence’s banking team has aided in SWAT’s long-term growth, strategic planning and day-to-day operations, exemplifying its passion for its customers.
In its nine years of operation, SWAT has been through two ownership transactions, during which both lending partners played a significant role. In both situations, Cadence allowed for seamless business dealings, particularly on the revolver side. The buying parties understood the relationship was important to SWAT’s success and agreed not to move to another banking institution. Cadence’s commitment to SWAT through these transactions illustrates adept financial support and sustainability, further growing SWAT as a company and demonstrating the competence of the Cadence team.
For more information, visit cadencebank.com, or taylor.ducoff@cadencebank.com or call (713) 871-4192.
