Rosenthal & Rosenthal completed an $11 million asset-based lending transaction for a seafood importer and distributor.
In 2023, the seafood company found itself in a turnaround situation with a highly concentrated customer. The client’s Chicago-based turnaround consultant brought in Rosenthal as a potential financing partner. Although the client initially went with a bank ABL, Rosenthal reconnected with the client at a trade show, and within three weeks of that meeting, Rosenthal was able to provide the client with a $11 million ABL facility backed by accounts receivable and inventory.
“This transaction is a great example of why Rosenthal’s products and offerings can be excellent alternatives to working with a bank,” Andrew O’Day, vice president of business development at Rosenthal, said. “Rosenthal’s flexibility, speed to close and our ability to provide non-dilutive working capital solutions without the red tape and restrictions that often go hand-in-hand with bank funding can make all the difference for companies looking to take advantage of sales opportunities.”
