Alexandria, VA – February 11, 2013 – Culmen International, LLC (www.culmen.com) assists the U.S. government with the execution of complex international security initiatives and the management and facilitation of advanced contracts and programs between domestic and foreign government agencies. Culmen also provides technical and management advisory, program management support, domestic and international procurement, logistics, and training services worldwide.
With the financial advisory support of Scale Finance, Culmen has closed a $12.0 million institutional growth capital transaction through Fulton Bank, the lead banking subsidiary of Fulton Financial Corporation. To support its fast growth within its international procurement, logistics and legacy business lines, Culmen engaged Scale Finance LLC. Fulton Bank, through its leading Government Contract and International Banking Groups, provided Culmen an innovative working capital facility with critically important flexibility and attractive terms. This funding expands Culmen’s balance sheet enabling the Company to capitalize on growth opportunities, win and execute major contracts, enhance lead positions with U.S. agencies and continue to deliver strong value.
In 2012, Culmen realized an extraordinary win rate in U.S. government contracts for international procurement and logistics, along with continued growth in legacy businesses. Under these new contracts, Culmen provides overseas procurement of complex systems on behalf of U.S. government agencies. Culmen’s resulting contract backlog requires financing of the complete payment cycle from purchase deposit, inventory-in-transit through final delivery. With unprecedented success in this most complex, specialized business, Culmen faced an acute need to secure highly specialized financing through a lender experienced in government contract and international banking.
Founded in 2004, Culmen is a mid-size government contractor based in Alexandria, VA with branch offices in the Czech Republic and Romania, and personnel in Germany, Russia, Ukraine, Azerbaijan and Kazakhstan. The most advanced and specialized government agencies look to Culmen to support and enhance international security by optimizing and facilitating programs, operations and international collaboration with critical missions in challenging environments with constrained resources.
Culmen has experience throughout Eastern and Western Europe, the former Soviet Union, the Middle East, Southeast Asia, Africa and Latin America, and expertise in: WMD Nonproliferation, Border Security, Counterterrorism, Language/Cultural Training, Ordinance Logistics, Foreign Military Sales and Materiel Acquisition. Clients include agencies and prime contractors within the U.S. Departments of Defense, Energy (Nuclear Security Admin.), State, Justice, Homeland Security, and the Trade and Development Agency. Culmen has been honored with numerous industry accolades, including Virginia Fantastic 50 Awards – 2010, 2011 & 2012; Inc.5000 Awards for the Fastest Growing Private Companies in America – 2009, 2010, 2011 & 2012; and Small and Emerging Contractors Advisory Forum Contractor of the Year – 2010 & 2009.
About Fulton Financial Corporation and Fulton Bank – Fulton Financial Corp. (FFC) is a $16 billion multi-bank holding company based in Lancaster, PA with 3,900 employees and 270 offices. Through 6 subsidiary community banks and non-bank subsidiaries, FFC provides a range of retail and commercial banking and financial services throughout eastern PA, DE, MD, NJ and VA. FFC is listed on the NASDAQ (FULT) and ranks among the premier community banking organizations in the Mid-Atlantic. As FFC’s largest affiliate, Fulton Bank (www.fultonbank.com) offers the broad array of retail and commercial financial services of a larger bank, while maintaining personalized community-oriented banking relationships. In addition to leading GovCon and International Banking practices, Fulton Bank has provided strength to the region and its communities since 1882.
About Scale Finance
Scale Finance LLC (www.scalefinance.com) provides contract CFO services, Controller solutions, and support in raising capital, or executing M&A transactions, to entrepreneurial companies. The firm specializes in cost-effective financial reporting, budgeting & forecasting, implementing controls, complex modeling, business valuations, and other financial management, and provides strategic help for companies raising growth capital or considering M&A/recapitalization opportunities. Most of the firm’s clients are growing technology, healthcare, business services, consumer, and industrial companies at various stages of development from start-up to tens of millions in annual revenue. Scale Finance LLC has offices throughout the southeast including Charlotte, Raleigh/Durham, Greensboro, Wilmington, Washington D.C. and South Florida with a team of more than 30 professionals serving more than 100 companies throughout the region.
