Capital Business Credit Provides ABL Facility to Sabin Robbins
Capital Business Credit (CBC) has provided an $8.8 million asset-based loan facility to Sabin Robbins Converting, a full-service paper convertor located in Ohio. CBC assisted the equity sponsor, Theca, LLC, in its acquisition of Sabin.
Under tight closing deadlines, Capital Business Credit developed a multi collateralized credit facility to support the acquisition, while also satisfying Sabin’s daily operational requirements.
“As a non-bank lender, we were able to work with the equity team and Sabin to customize a financing solution that met Sabin’s uniquely specific needs. Given the tight closing schedule, I’m also pleased that we were able to exceed the client’s expectations.” said Marc Adelson, president and chief executive officer of Capital Business Credit.
“Sabin has evolved over its 130 years in business into one of the premier paper convertors in the U.S. We were in search of lender who understood our business, our company strategy and could provide us with the flexibility we needed to operate in the current economic climate,” said Nathan Moser, CEO, Sabin Robbins. Moser added, “Capital Business Credit’s customized approach quickly provided us with a financial solution and has strategically positioned us for growth in the future. Additionally, CBC’s flexibility in structuring the credit facilities and ease to do business with, will enhance our ability to service the dynamic needs of our customer base”
Capital Business Credit is a commercial finance company that offers full-service factoring, immediate cash for receivables, single debtor credit coverage, letters of credit, accounts receivable management services, inventory lending and international financing.