eCapital, a finance provider for businesses across North America and the U.K., issued $95 million in lines of credit during the fourth quarter of 2022 through its eCapital ABL North America division. With this working capital, the companies – which include CPG products in the home and lawn categories – plan to grow their businesses by expanding product lines, scaling customer reach and driving operational efficiency.
“Our team continued the momentum through the very end of 2022, by providing unparalleled financial solutions to our clients,” Brian Cuttic, CEO of asset-based lending at eCapital, said. “The dedication of our team is evident in our ability to understand and meet the unique needs of each business we serve, allowing them to achieve their goals with custom financial solutions that support their growth. We are proud to have closed out another successful year working alongside such amazing businesses and look forward to continued growth in the future.”
The businesses funded by eCapital ABL North America in the fourth quarter of 2022 include, but are not limited to:
- A $20 million facility for the creators of the first-of-its-kind bathroom fragrance and other home fragrance products. The company will use the funding to sustain operations through peak seasons and accelerate the business for the future.
- A $35 million facility for a manufacturer and distributor of watering products and accessories. Backed by a prominent private equity sponsor, the company will use the working capital from eCapital to support operations across its multiple brands and manufacturing and distribution facilities.
- A $40 million facility for one of the largest candle producers in the U.S. Also backed by a private equity sponsor, it will use the line of credit from eCapital to support continued product innovation and expansion among its multiple brand names and private labels.