Garrington Group up of C Compani panies es Corporate Presentation
Garring ngto ton Group o of Companies Corporate Structure Loan Origination Canada USA LINE Financial Underwriting Services Inc. $ LINE Financial Capital Provider Services Inc. 2
Garring ngto ton Group o of Companies Fund entrepreneurial companies with creative and optimal financing Mission solutions, providing an alternative source of capital to support business development. 3
Garring ngto ton Group o of Companies • Become the premier alternative lender in North America, supporting entrepreneurial companies with creative and optimal lending solutions. Vision • Mirror a close-knit group of experienced professionals which resolutely embraces a shared culture of respect, integrity, and optimism, making North America stronger. 4
Garring ngto ton Group o of Companies • Over 80 team members involved.* • Business to business lending. • Who we Approximately $400 Million of loans managed by the collective group.* are • Over 300 financing facilities.* • Current portfolio of loans spanning 31 states and 8 provinces connecting with local businesses.* • Operating across all of Canada and the USA. * As of December 31, 2019 across all companies which form a part of the Garrington Group of Companies as well as the Capital Provider – Next Edge Private Debt LP. 5
Garring Garring ngto ngto ton Group o ton Group o of Companies of Companies The Opportunity Non-bank and alternative lending in North America is: • Highly fragmented - many small players. • $1-30 Million market opportunity is where the return arbitrage opportunity is available. • A place where the customers’ interests are not well-represented; customer service is poor. • A large opportunity for a client-centric firm such as Garrington to capture market share. 6
Garring ngto ton Group o of Companies Our Focus Garrington is focused on these areas of Private Lending: • Asset Based Lending • Factoring • Specialty Finance Lending • Other Unique Types of Secured Lending 7
Garring ngto ton Group o of Companies Total Loans Outstanding* 600,000 500,000 400,000 300,000 200,000 100,000 - * ** Historical AUM Projected AUM * Total loans outstanding based upon the aggregate of the funds deployed by Next Edge Private Debt LP and other Line Financial Inc. funds deployed as at December 31, 2019. ** Projected AUM is based on current capital raising monthly in flows. Capital in flows are subject to change and revision without notice. 8
Garring ngto ton Group o of Companies Next Edge Private Debt LP - Capital Provider About Next Edge Capital: Private Loans not Market • Priced (Minimal Strong Deal Formed in July 2006, was renamed Next Edge Volatility) Origination Attractive Relationships Risk/ Reward Capital Corp. (“Next Edge”) after the spinout of Across North Ratio America Man Investments Canada Corp. from Man Group plc (“Man”) in June 2014. • The Next Edge Specialist in Alternative Investment Funds. Private Debt Strong and Low historical • Experienced Correlation to LP Management team responsible for raising over Management Equity and Team Bond Markets CDN $3 Billion * of alternative assets in Canada since 2000. • The Next Edge Private Debt Fund ** manages over Low Interest Focus on Rate Capital $265 Million *** with a 4 year track record. Preservation Sensitivity CAPITAL FUNDING * Please note that over CDN $2 Billion of the CDN $3 Billion of alternative assets raised relates to assets raised at a previous firm(s). ** Next Edge Private Debt Fund invests substantially all of its assets in the Next Edge Commercial Trust and the Next Edge Commercial Trust invests substantially all of its assets in the Next Edge Private Debt LP. *** Next Edge Private Debt Fund AUM as of August 1, 2019. 9
Garring ngto ton Group o of Companies Who is Blacksail Capital Partners Value Proposition: • Blacksail exists to empower companies toward strong and sustainable growth. • Blacksail focuses its expertise on the underserved small to mid sized middle market sector providing working capital loans from $1 Million to $30 Million secured by Accounts Receivable, Inventory, Machinery & Equipment and Real Estate. • Blacksail finances companies throughout Canada and the United States . • While its core competency is finding working capital solutions, Blacksail also offers a wide range of financial products to meet the needs of our clients. • Borrowers use loan proceeds to fund: working capital for growth, acquisitions, restructurings/turnarounds, etc . • Blacksail team has decades of experience . • Blacksail is backed by the Next Edge Private Debt LP , which provides a strong capital base. • Blacksail provides a place to go , when the Bank says NO. LOAN ORIGINATION 10
Garring ngto ton Group o of Companies Who is IdentiQ Finance Solutions: What to expect: • Asset Based Lending - Revolving lines of credit from Fast underwriting and fast decisions. • $1 to $30 Million, secured by eligible accounts No red-tape and no surprises. receivable, inventory, and other tangible assets, and • Not just money, also a trusted advisor. term loans to qualified borrowers. • Direct collaboration with decision-makers. Accounts Receivable Financing - Factoring facilities • from $250,000 and up. Industry agnostic throughout Dedication to service over self-interest. the US. • A portfolio management team that understands Lender Financing - Revolving lines of credit from $2.5 your needs. million to $30 Million to eligible commercial and • Total commitment to your company’s success. consumer financing companies throughout the US. Term Loans - As an accommodation to an RLOC, loans from $250k against eligible fixed assets and real estate. LOAN ORIGINATION 11
Garring ngto ton Group o of Companies Who is Liquid Capital About Liquid Capital: • Founded in 1999 with 45+ regional offices across the USA and Canada. • Liquid Capital provides clients with personalized service delivered by a local decision maker. Clients also benefit from an international system and all of its extensive resources. • The Liquid Capital network has purchased over $3 Billion in receivables purchased since inception. • Liquid Capital provides financing solutions for companies with up to $250 Million in revenue with credit lines from $50,000 to $20 Million. • Liquid Capital areas of specialty include: Accounts Receivable Factoring Asset Based Lending Supply Chain Finance LOAN ORIGINATION 12
Garring ngto ton Group o of Companies Who is LINE Financial About LINE Financial: LINE Financial provides commercial finance firms the ability to maximize performance by offering industry leading portfolio and risk management. • Specializing in loan management. • Currently manages commercial finance, asset-based, and factoring transactions of approximately $400 million.* • Over $3 Billion of loans deployed since inception. ** • Deal size $1-30 Million. • Underwriting and operations team of over 40 employees. • Management team deeply experienced. UNDERWRITING * Based upon the aggregate of the total assets of the Next Edge Private Debt Fund and other LINE Financial Services Inc. assets as at December 31, 2019. ** Formerly a division of Liquid Capital Corp. Figure quoted is since the inception of Liquid Capital Corp. in 1999. 13
A p p e n d i x 14
Garring ngto ton Group o of Companies Key Garrington Management Team Members Brian Center serves as the President and Chief Executive Officer of Line Financial Services. Prior to working with the Line Financial team, Brian spent almost 10 years with Far West Capital culminating in his role as President and Chief Credit Officer. In 2002, Brian was the co-founder and President of Comresco Capital, LLC, a factoring company that was sold to Bibby Financial. Brian has also served in a number of senior management roles in the commercial finance and banking industry and has served on a number of industry and community boards. With over 30 years of experience in the financial sector, Brian uses his passion for working with and growing small and mid-sized businesses to create a value added consultative affiliation with his clients, stakeholders and teams. Brian graduated with honors from Texas Tech University with a Bachelor of Business Administration in Economics. Brian was selected as and is a member of Omicron Epsilon Delta society honoring esteemed academics and performance in the field of Economics. In addition to his duties at Line Financial, Brian also serves as President of Liquid Capital Enterprises and it’s various subsidiaries and as a principal advisor to the Next Edge Capital Corp. Rick Coles , Vice President and General Counsel, likes the challenge of the evolving, multifaceted role he fills at Line Financial. As General Counsel, he advises the company on any and all legal matters (projects, products, agreements, etc.) and is involved in instructing any outside counsel that is retained. His focus is on ABL (asset-based lending), where transactions often go beyond straightforward factoring solutions. Rick was in private practice from 1986 until getting into the ABL field in 2012. Rick has a BA and MBA from the University of Toronto and received his law degree from the University of Western Ontario. 15
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