Daily News: October 17, 2013

Avidbank Provides $5MM to ICU Eyewear

Avidbank Corporate Finance, a division of Avidbank that specializes in technology and asset-based funding, provided $5 million of financing to ICU Eyewear. The facilities will be used for working capital flexibility and growth.

“Avidbank is delighted to be a part of ICU Eyewear’s success and views this company as a great addition to our Corporate Finance portfolio,” said Larry LaCroix, executive vice president and division manager of the Corporate Finance Division. “ICU Eyewear Inc. is a solid company with exciting growth plans, as well as great business discipline.”

“ICU Eyewear is delighted with our new partnership with Avidbank,” stated Rich Conti, CEO of ICU Eyewear. “ICU needed a partner who understands the needs of a high growth company, and Avidbank clearly fits the bill. We look forward to growing together.”

ICU Eyewear, which traces its roots back nearly 60 years, has become a nationally recognized leader in reading glasses, sunglasses, and outdoor sport eyewear.