FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / News / Read News

Print

Rosenthal & Rosenthal Closes $7.5MM in Funding for Two World-Class Seafood Purveyors

December 14, 2018, 07:09 AM

Rosenthal & Rosenthal, Inc.,  a factoring, asset based lending and purchase order financing firm in the U.S., announced the completion of recent deals with two of the country’s highest quality and most trusted seafood suppliers.  

A popular supplier of fresh fish to some of the world’s most prominent retailers and restaurants sought out a new financing partner when its existing bank unexpectedly tightened the reins on the company’s financing. The company’s attorneys recommended Rosenthal and the firm stepped in as the new senior lender. Recognizing the value of the company’s brand and positive past performance, Rosenthal provided a $4 million asset based financing facility that included a $3.5 million line of credit and a $500,000 term loan backed by the client’s brand. 

In a separate deal, an importer of some of the finest frozen seafood from around the world, faced challenges with its existing bank. Without warning, the lender implemented tighter restrictive covenants, eventually asking the company to find a new financing solution. The company’s financial consultants recommended Rosenthal to replace the existing banking relationship and the firm stepped up to provide the working capital the company needed to continue to run its business profitably, without outside interference. The deal involved a $3.5 million revolving line of credit, which included a borrowing base against the client’s accounts receivable and inventory. 

“These two deals are perfect examples of Rosenthal’s knack for focusing on a company’s overall profitability and value so that our clients can focus on running their businesses,” said Robert Martucci, Senior Vice President of Business Development in Rosenthal’s Asset Based Lending Division. “Aside from understanding the unique challenges in the seafood industry, we also bring flexibility and tolerance to all of our deals, in ways that more traditional banks simply cannot offer.”

 






Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.