Tradewind closed a $7.5 million A/R financing facility for a U.S.-based designer and manufacturer of battery and power solutions for the telecom and automotive industries.
The company, which is owned by a European private equity group, has its headquarters in Europe, manufactures in the U.S., sells domestically and exports to South America, Europe and Asia. It is directing Tradewind’s funding towards measures to support its current growth, including the investment in additional production lines.
With high market share in the industry worldwide due to its consistent innovation and commitment to sustainability and environmental responsibility, the company was on track to build its global presence and increase sales further when it approached Tradewind for financing. To meet its working capital needs, Tradewind provided liquidity that supplemented the company’s existing line of credit with its bank. Because the finance firm offered flexibility, including limited security requirements, and worked with a bank in Europe that the manufacturer also used, it proved to be a productive partnership for the company to maximize its liquidity.
“It’s a great pleasure to work with a premium brand that has such a global reach. Our non-recourse A/R financing facility is a perfect supplement to their existing bank facility and is really helping facilitate the company’s expansion, both in the U.S. and internationally. We look forward to being a part of their growth story and long-term success,” said Brian Dowd, VP of Tradewind’s New York office.
