North Mill Capital closed a $16 million asset based credit facility with Stanley Furniture, Inc.,a designer, manufacturer and distributor of middle to high-end wood residential furnishings. Founded in 1924, their products can be found in stores all over the world.
The credit facility was comprised of a revolving line of credit with advances on receivables and inventory. The total credit facility also included a term loan. The funds were used to pay off existing shareholders to take the company private and provide ongoing working capital.