Opportunity: Founded in 1998 by two recognized rock climbing enthusiasts, ClimbTech designs and builds custom anchoring and safety devices used in construction, industrial and mining industries.

Climb-Tech was in need of a new CEO to enable the founders to focus on new product innovation and development. In addition, the company needed growth capital to strengthen their balance sheet and fund the launch of their new products.

How AMP Helped:   AMP placed one of our partners into the management team as CEO. He focused on: Establishing an accounting and financial reporting foundation, increasing speed to market of new products, identifying new markets to target, establishing a product development process and rebranding the company and its website to reflect the new growth stage it is entering.

Results:  Climbtech will launch 4 new products in the first quarter of 2010 and is on track to doubling its revenue year on year. The cash conversion cycle was shortened from 90 days to less that 30 days, working capital has tripled and long term debt was renegotiated and reduced by 50%. In addition, the company has received a $300,000 line of credit to fund the launch of its new products, without diluting the owners' equity.