Daily News: October 29, 2013

Essex Capital Arranges $1.5MM Credit Line for Fishing Manufacturer

Essex Capital Group announced that it arranged a $1.5 million line of credit for DQC International Corp., d/b/a 13 Fishing , a Tampa, FL- based manufacturer and distributor of fishing equipment to retailers in the U.S. and Canada.

The new debt facility was funded by a private specialty finance firm, and will allow the company to fund working capital and execute its high-growth expansion strategy.

Robert D. Swain, president of Essex, commented, “13 Fishing has developed a unique line of fishing equipment that utilizes leading-edge technologies. The end product is built from the highest-quality materials and is being sold through big box retailers like Cabela’s and Gander Mountain. This new working capital facility will allow management the financing flexibility to continue to innovate in their industry, further bolster their brand and solidify their position with existing and new retailers across North America.”

Essex Capital acted as the company’s exclusive advisor in this transaction.