Rosenthal Capital Group (RCG), a private commercial finance firm in the United States, completed a joint recourse factoring and purchase order financing facility totaling $3.5 million for WB XCEL, a global surf brand specializing in wetsuits and apparel.
The company was seeking a working capital solution that included purchase order financing to support and accelerate continued sales growth and position the business to pursue new customer opportunities. RCG’s recourse factoring facility and purchase order financing facility will support the company’s growth plans.
“This transaction is a great example of how RCG can quickly structure and close a flexible working capital solution including recourse factoring and purchase order financing, especially when it’s designed to work in tandem with other forms of alternative financing,” Leigh Lones, head of recourse factoring at RCG, said.
“With our deep knowledge and expertise in retail, specifically the surf industry, RCG was a natural fit for this transaction,” Maria Contino, Western region sales manager at RCG, said. “Our experience gave the company the reassurance they needed from a lender that truly understands their sector and their unique business needs, opportunities and challenges.”
”We have enjoyed working with the team from Rosenthal,” Drew Dunnington, CFO of XCEL, said. “They have been instrumental in crafting a financing unique to our Company’s needs that will be vital as we scale. We look forward to continuing to work with them in the years to come.”
”It was a pleasure working with the Rosenthal team,” James Mazza, director at Gladstone Capital, said. “They have built a deep consumer retail practice and were able to develop a tailored financing solution to support our continued growth.”
