Daily News: September 12, 2013

Amerisource Announces Closing of A/R Factoring Facility

Amerisource announced the closing and funding of a $2 million A/R factoring facility for a defense contractor supplying electronic components in Upstate, NY. New ownership was recently brought in to recapitalize the company, as it struggled through the economic crisis. The company’s consultant brought in Amerisource to provide a flexible working capital solution during the transition period

“We were pleased to be an integral part of the recapitalization,” said Andy Allaire, regional market manager for Amerisource. “The new ownership realized that having appropriate levels of liquidity in place from day one was a critical component of the turnaround.”