Rosenthal & Rosenthal completed two Midwest-based transactions, including a $1 million asset-based lending facility and a $3 million non-recourse factoring facility.
 
An Ohio-based manufacturer and distributor of organic breakfast bars, previously self-funded by the founder as well as private equity, was now looking for additional financing to fund the growth of the business. Rosenthal stepped in with a $1 million asset-based lending facility, lending on account receivables and ultimately on inventory, to provide the working capital the company needs to continue its aggressive growth plans.
 
A century-old, family-owned manufacturer and distributor of metal stampings, plastic parts and hardware to the furniture, bedding, RV and marine sectors was seeking a new alternative financing solution. After experiencing pandemic challenges and supply chain issues, the Illinois-based company was successfully refocusing on its core business when one of its largest customers unexpectedly went out of business. As a result, their existing bank was unwilling to continue to lend to the company. The client exited the bank on good terms and an investment bank partner referred them to Rosenthal. Lending on both account receivables and inventory, Rosenthal provided a $3 million non-recourse factoring facility, which included a $400,000 letter of credit and much-needed credit protection.
 
“In both cases, the clients were in need of more flexible financing solutions than those they had utilized in the past through private equity funding or traditional bank lending,” said Andrew O’Day, Rosenthal’s VP and Business Development Officer for the Midwest region. “These clients and others are ultimately drawn to Rosenthal because of our flexibility, our speed in closing deals, especially in a tough economic climate, and our deep industry expertise. We look forward to broadening our reach and expanding Rosenthal’s footprint throughout the Midwest in 2024.”