Loan CLOSED! Congratulations to the new owners of Kid Glove Inc.
Jack and Amanda Monti dreamed about acquiring a business in the Valley. With the help of Gateway Bank, they made that dream a reality.
Jack and Amanda came across an opportunity to acquire Kid Glove, a family-owned moving and storage company in Scottsdale, AZ. The business fit perfectly with their past experience and what they wanted to provide for their growing family of six.
Since the company was founded in 1992, the company has become known in the Valley for their furniture delivery and installation, residential and commercial relocation, and receiving and inspection services. They serve clients in many industries — designers, builders, realtors, home owners, and many more — and also provide 20,000 square feet of climate-controlled warehouse for receiving and storage.
The Montis were intrigued by the opportunity to acquire Kid Glove and needed financing for the purchase. Their attorney, James Kuzmich had worked with Gateway Bank for many years and referred them to us. EVP/Chief Credit Officer Don Thompson and Vice President Christie Boutain collaborated closely with Jack and Amanda on a creative financing structure. Don, Christie, and Anthony Bodnar worked with another lender that needed to be paid off and coordinated all of the key stakeholders, including the borrower, the seller, their respective attorneys, the title company, and the landlord’s agent and attorney.
With Gateway’s help, Jack and Amanda successfully closed on the acquisition in September 2018. Their goal was to make the process as smooth and easy as possible for themselves and Kid Glove’s team. The Montis are proud to have achieved that goal and retained all staff members through the transition.
“Thank you so much Christie, Anthony and Don,” Jack said. “Amanda and I are so impressed with Gateway Bank, and so happy to be working with you all. Thank you all so much.”
With the acquisition complete, Jack and Amanda are looking forward to continuing the company’s legacy and giving clients across the Valley the “kid-glove treatment”!