Siena Lending Group LLC announced the closing of a three-year credit facility of up to $28 million for Coloredge, Inc. The credit facility includes an asset-based revolving line of credit along with an equipment term loan and capital expenditure facility. The loans were used to refinance existing debt and provide additional capital to support growth and equipment financing needs, and is scalable to support potential future acquisitions.
Founded in 1988, Coloredge is a leading provider of technology-enabled, ultra-high-end visual marketing solutions for the world’s premier brands. In addition to large format imaging and digital display solutions, the Company provides end-to-end, full service creative services including graphic design, pre-media, studio photography, CGI/3D imaging, creative retouching, package prototyping and digital asset management. Coloredge uses the most advanced manufacturing technologies and production processes to create high-impact visual spaces for retailers, museums, events, arenas and corporate environments across the country and around the globe. Coloredge is owned by Saints Capital (“Saints”), a San Francisco-based investment firm with a successful track record of providing liquidity to investors in private companies for over 15 years.
Emmanuel Doe, CEO of Coloredge, said, “We appreciate the diligence the Siena team demonstrated to understand our business throughout the financing process, which allowed them to provide more liquidity than we could get from other lenders. The flexible structure and ability to grow with us has helped position Coloredge to reach our next level of success.”
Mark Orlando, Director and Western Region Manager of Siena Lending Group, said, “We are pleased to provide this financing for a leading company like Coloredge, and excited to help Emmanuel and the Company achieve their future goals. Our group at Siena worked hard with Emmanuel’s team and Saints Capital to provide a preferred financing solution that offered additional capital for their current needs and potential opportunities.”
Ken Sawyer, Managing Director and Co-Founder of Saints Capital, stated, “I challenged Siena to put together the best financing plan for our portfolio company, Coloredge, and they came through. We look forward to a mutually beneficial relationship together and welcome the opportunity to work with Mark and the rest of the Siena team on other future business financings for Saints.”