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

Print

Rosenthal Closes $11MM Asset-Based Lending Transaction for Seafood Importer, Distributor

April 16, 2024, 08:10 AM
Filed Under: Distribution

Rosenthal & Rosenthal completed an asset-based lending transaction for a major seafood importer totaling $11 million.
 
Based in the Southeast, the company imports and distributes high-quality frozen seafood to major food wholesalers and retail partners throughout the Eastern and Southeastern U.S. In 2023, the company found itself in a turnaround situation with a highly concentrated customer. The client’s Chicago-based turnaround consultant brought in Rosenthal as a potential financing partner. Although the client initially went with a bank ABL, Rosenthal reconnected with the client at the industry’s largest trade show, and within three weeks of that meeting, Rosenthal was able to provide the client with a $11 million asset based lending facility backed by accounts receivable and inventory.
 
“This transaction is a great example of why Rosenthal’s products and offerings can be excellent alternatives to working with a bank,” said Andrew O’Day, Vice President of Business Development at Rosenthal. “Rosenthal’s flexibility, speed to close and our ability to provide non-dilutive working capital solutions without the red tape and restrictions that often go hand-in-hand with bank funding can make all the difference for companies looking to take advantage of sales opportunities.”
 







Comments From Our Members

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