MB Business Capital provided a new $10 million senior credit facility to Iselin, NJ-based Taylored Services. The facility was used to fund the recapitalization of Taylored’s existing debt structure and working capital needs.
Taylored is a third-party logistics provider specializing in wholesale, retail and direct-to-consumer unit fulfillment services with expertise in apparel, footwear and accessory distribution. It is a portfolio company of private equity firm Saybrook Capital and operates within close proximity to the gateway ports of Los Angeles and Newark, NJ.
“We are excited to partner with MB in our new capital structure. With MB’s capability and deal structure, we will be more efficient in treasury management, and we have lowered our cost of capital. This positions us well for growth,” said Michael Yusko, Taylored chief financial officer.
“This particular deal took quite a long time to come to fruition and our team went above and beyond to a complete a successful closing without missing a beat. We couldn’t be happier to welcome Taylored Services and we look forward to a great relationship,” said Michael Sharkey, president of MB Business Capital.
