Daily News: January 13, 2017

Siena Lending Closes $10MM Facility for Geneva Watch Group


Siena Lending Group completed a $10 million credit facility for Geneva Watch Group to refinance its existing senior debt and to support its working capital needs.

New York-based Geneva is a designer and distributor of branded fashion watches, including Kenneth Cole, Ted Baker and Sean John. Geneva uses its experienced product development and design team in collaboration with its branded customers with whom they have had long-standing relationships.

Stephen Fuscaldo, director of Siena Lending Group, said, “We are pleased to provide a flexible asset based facility to Geneva to allow them to increase sales with their existing brands as well as expanding their brand capability to obtain licenses for other brands.”

Christian Frommherz, CEO of Geneva’s parent company said, “Siena demonstrated a high level of professionalism and were able to execute and close in the time frame necessary. We look forward to a long relationship with Siena as we look towards future opportunistic acquisitions.”