Daily News: December 6, 2019

Newbridge Global Closes Two Deals Totaling $40.5MM


Newbridge Global Sourcing provided a $40 million receivables financing facility to a telecommunications equipment manufacturer and $500,000 in supply chain financing to an outdoor apparel designer.

The Mexican-based telecommunications manufacturer is a large provider of mobile telecommunications equipment with strong end debtors such as AT&T.

“We are focused on helping companies grow by unlocking additional working capital,” said Brian Weiner, CEO of Newbridge. “The financing provided by Newbridge will enable our client to reinvest in their business in a growing telecommunications market. We look forward to continuing to partner with them to assist in their expansion.”

The supply chain financing went to a designer and manufacturer of high-quality outdoor apparel to purchase inventory and fill customer orders. The specialized apparel company’s brands are known for innovative design and superior quality products and are sold at major department stores, sporting goods stores, mass merchant retailers, and national online retailers.

“Our client has a strong track record and a thriving business,” Weiner said. “Like many businesses selling to retailers, they faced a cash flow shortage between paying vendor costs and collecting after the product was manufactured and sold. Access to supply chain financing provides them with raw materials to fulfill large orders or build inventory and continue to grow.”