Gordon Brothers Finance Company (GBFC), a commercial finance company that originates and underwrites asset-based and cash flow loans to middle market companies across several industries in North America and Europe, announced today that it has completed a €10.5million ($11.4 million) term loan to Tvilum APS (Tvilum). Tvilum is one of the world’s largest manufacturers of self-assembly, flat-packed furniture.
Tvilums’ products are sold to customers in over 20 countries through some of the largest furniture retailers and mass merchants, as well as through its online website. The company operates four state-of-the-art production facilities located within close proximity to its headquarters in Faarvang, Denmark. The capital will be used to support the company’s restructuring and growth plans. The term loan will be secured by Tvilum’s machinery & equipment, real estate and inventory. Gordon Brothers Europe (GBE) provided a valuation of Tvilum’s assets and also holds a €2.5 million participation in the term loan.
GBFC is focused on providing flexible and creative financing structures to companies in both North America and Europe. “Working in conjunction with Gordon Brothers Europe, our team is excited to have completed our fourth transaction in Europe and we look forward to expanding our international lending platform,” said Patrick Dalton, CEO of Gordon Brothers Finance Company.
“We are pleased to have had the opportunity to work with the Company’s management team and sponsor, Revolution Capital Group, to provide a capital solution that will allow the company to focus on its strategic objectives,” said Lawrence Klaff, senior managing director of Gordon Brothers Finance Company. “Gordon Brothers Europe’s local market knowledge was important to the transaction and GBFC anticipates future collaborations throughout the region,” he added.
“We appreciated GBFC’s creativity and productive approach and Gordon Brothers Europe’s valuation expertise, which, combined, allowed this transaction to be completed,” said Aman Bajaj, managing director of Revolution Capital Group.