Rosenthal will procure 90 factoring clients from BB&T’s portfolio, adding approximately $2 billion in volume to its $9 billion in factored volume. The company will also add a front office in Georgia and back office support in North Carolina to manage the new portfolio. Additionally, 25 BB&T factoring professionals will join the Rosenthal staff.
The deal is the first acquisition in Rosenthal’s 80-year history. The expansion will allow Rosenthal to continue to develop new business opportunities within the furniture, casual living, fabrics and textiles industries, alongside the fashion, apparel, accessories, manufacturing, food and beverage and gift and home sectors.
“We are excited to acquire BB&T’s portfolio of factoring clients and honored to welcome their talented team of professionals into the Rosenthal family,” said Peter Rosenthal, president of Rosenthal & Rosenthal. “This acquisition is a logical step forward for our firm, significantly advancing our goal of establishing Rosenthal as the leading independent national finance company.”