Alliance Entertainment Holding Corporation, a distributor and wholesaler of the world’s largest in stock selection of music, movies, video games, electronics, arcades and collectibles, expanded its line of credit to $225 million from $175 million.
The asset-based loan is led by Bank of America with syndication partners including Fifth Third Bank and Bank of Montreal. Alliance has been with the trio of banks since February of 2017. The line of credit is used to finance operations supporting accounts receivable and inventory purchases.
“The support of our bank group over the last five years has helped Alliance to grow rapidly”, Bruce Ogilvie, chairman of Alliance Entertainment, said. “We truly value their partnership to help us expand organically and through acquisitions.”
“Bank of America is pleased to provide Alliance Entertainment with a flexible structure that will enable them to expand their business,” Steve King, senior vice president at Bank of America, said. “We look forward to continuing our relationship and supporting their growth goals by helping them extend the range of their capabilities, products and service offerings.”