Recent Deals

Synergy Holdings, LLC is the holding company for two insurance operating entities, Synergy Coverage Solutions, LLC and Synergy Insurance Company, that provides workers compensation solutions for employers in the Southeast and Midwest United States.

Situation:

• Management believed the near-term rate environment presented an opportune time to raise growth capital and begin writing more business in Synergy Insurance Company

Challenges:

• The company experienced a recent downward trend in financial performance
• Several potential lenders required personal guarantees, which the shareholders were not willing to provide

Successful Solution:

• Anderson LeNeave contacted a focused group of senior lenders and received two financing proposals
• Anderson LeNeave originated and structured two senior secured credit facilities with First Citizens Bank & Trust Company, which provided additional growth capital while significantly reducing annual interest expense and treasury service fees.  No personal guarantees were required.

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