Rosenthal & Rosenthal completed a $25 million recourse factoring deal for a private equity-owned pharmaceutical and healthcare products company.
The company is focused on developing drug-device combination products in the healthcare sector and was looking to secure a new alternative financing facility to support its seasonal needs. The opportunity was referred to Rosenthal by one of Rosenthal’s long-time bank partners, as the company was exploring traditional asset based lending facilities with banks.
Rosenthal stepped in to provide a $25 million recourse factoring facility that was uniquely structured to include multiple accounts receivable advance rates and more flexible criteria for customer terms.
“Our ability to quickly assess the opportunity and meet the client’s aggressive timeline for closing in weeks—not months—made Rosenthal uniquely positioned to assist on this deal,” Leigh Lones, head of the recourse factoring division at Rosenthal, said. “This transaction is a great example of how effective recourse factoring can be for companies like this, with quick, simple pricing and a flexible structure that’s aligned to address a client’s specific needs. We’re pleased to have robust and productive working relationships with our referral banks and look forward to assisting on similar transactions in the future.”
