Business Capital announced the following transaction:
The company is a leading branded and private label manufacturer of various ice cream bars and other frozen snacks using only high quality and authentic ingredients. It currently has over 10,000 points of distribution for its hand-crafted ice creams, frozen yogurt and fresh fruit bars found in display freezers, convenience stores, regional grocers and supermarkets throughout the U.S. Following a period of mismanagement, a seasoned turnaround team was successful in stabilizing the company and positioning it for long term growth. Business Capital was brought in to assist with the restructuring and recapitalization efforts, including securing a working capital credit line and pre-acquisition bridge loan. These financings were critical for this client to support current operations and future plans to increase distribution channels and develop new product. The funds also provided additional liquidity during its low seasonal sales period.
“Had it not been for the patience and commitment to the transaction exhibited by Business Capital throughout the sale process, we could not have closed on our acquisition. Chuck and his team represented the best interests of this client throughout the transaction and played a critical role in getting it over the finish line, ultimately saving the company,” said Robby Spigner, Managing Partner at Canum Capital Management.
After delivering two successful capital infusions, Business Capital was able to present a strong company picture and demonstrate long-term value while paving the way for the successful sale to an investment group with complementary strategic skills and the ability to take the Company to the next level of continuous growth.
Chuck Doyle, Managing Director at Business Capital commented, "We are thrilled to complete the last step in securing the future growth of this long-term client. This was the third successful financing transaction with this Company and they are now in a strategic position to continue as a leader in the food products sector with substantial liquidity, increased valuation and rising annual sales.”
For over a decade, Business Capital (BizCap) has been structuring and delivering customized solutions to hyper-growth and distressed small and middle-market companies nationwide. Committed to customer focus, BizCap implements resourceful working capital and restructuring solutions for companies in need of immediate liquidity, especially when conventional capital sources are not an option.