A national manufacturer partnered with Republic Business Credit (RBC) to secure a $4 million recourse factoring facility. RBC partnered with an independent private equity sponsor to complete the corporate divestiture of one orphan division.
This alliance is designed to empower the company to capitalize on surging demand and accelerate its expansion plans. The private equity sponsor wanted to reinforce the company’s opportunity for success on day one by setting up a revolver with RBC.
“Republic partnered with us throughout the acquisition process, often through nights and weekends, to ensure the revolving line was ready on our first day of ownership,” the sponsor said.
“Our recourse factoring facility offers the company streamlined underwriting, enhanced financial flexibility and the vital capital needed to fuel its growth and realize its ambitious goals,” Jason Carmona, senior vice president, Western region at RBC, said. “With Republic’s comprehensive suite of financial solutions, the company has gained the flexibility to seamlessly transition to an ABL (asset-based lending) line of credit as it achieves its strategic targets and objectives.”
“We were impressed with the company’s strong management team and their vision for the future,” Robert Meyers, president of RBC, said. “This partnership exemplifies Republic’s commitment to empowering businesses with the working capital they need to thrive in the dynamic landscape of today’s marketplace.”
