Daily News: January 29, 2015

Investors ABL Group Completes $22.5MM Financing

Investors Bank’s Asset-Based Lending Group recently closed $22.5 million in senior revolver credit facilities. The three companies that received revolvers are located in the New York-New Jersey metropolitan area. Each business is a top performer in its market category that includes the following sectors: seafood processing, energy services, and wholesaler/distributor of construction materials.

In announcing the transactions, Investors Bank’s SVP and head of the ABL Group David Viggiano said, “We are building relationships with rapidly growing midsize companies that serve broad markets and are some of the top businesses in their market areas. With our lending and underwriting teams in place, we are increasing the pace at which we find, process, and fulfill our financing transactions.”

The ABL Group’s recent financing transactions are featured below:

  • $10 million revolver provided to Ruggiero Seafood for working capital; the Newark, N.J.-based firm is a leading processor and supplier of frozen calamari and seafood
  • $10 million revolver credit provided to CenStar Energy Corporation for working capital; the New Rochelle, NY-based firm supplies natural gas and electricity to commercial and residential customers
  • $2.5 million revolver provided to Atlas Industries Co, Inc. for working capital; the North Bergen, N.J.-based company is a premier wholesaler and distributor of construction materials.