Rosenthal & Rosenthal completed a $3 million non-recourse factoring deal with Cady Industries, a specialty chemical manufacturer.
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Headquartered in Georgia, Cady needed additional working capital to assist with paying out the company’s minority investors. When the company’s lender, an institutional bank, was unable to offer more flexibility and capacity on their existing line, Cady turned to Rosenthal for a new financing solution.
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Rosenthal’s Southeast team stepped in, providing a $3 million non-recourse factoring facility against the company’s accounts receivable and inventory. In addition to the working capital solution, Rosenthal provided back office support for the company’s cash management and customer credit protection operations, an added benefit to Cady’s owners and management team. The factoring facility allowed the client to pay out the minority investors and provided more flexibility to support future sales growth.
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“Rosenthal was instrumental in helping us finalize a complicated restructuring deal,” said Steve Cady, president of Cady Industries. “Their team’s experience, expertise and creative financing solutions will help to change the landscape of our company.”
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“We are thrilled to partner with Cady Industries to develop an effective financing solution that meets their specific needs,” said Brian Resutek, Rosenthal’s senior vice president and account executive in Atlanta. “Rosenthal has a long history of supporting growing businesses, not only by providing much-needed working capital, but also through collections support and credit protection, all of which give management teams the reassurance and flexibility they need to stay focused on running the business.”
Forward for Specialty Finance
