Rosenthal Capital Group (RCG) completed a $6 million asset-based loan facility for a family-owned and operated frozen specialty seafood company based in Florida. 
 
Founded nearly 90 years ago and still family-run today, the company is one of the most established processors and distributors of frozen specialty seafood products, selling directly to grocery stores, retailers, food service companies and restaurants nationwide. Knowing RCG’s expertise in the seafood industry, a regional asset-based lender introduced the senior management to RCG executives. The company’s existing lender had changed its lending parameters and the client needed to pursue an alternative lending source. With the company’s nearly century-long experience and history of success, RCG was able to move quickly to structure a $6 million asset-based loan backed by accounts receivable and inventory. The loan provided adequate working capital and a well-collateralized deal structure for RCG, guaranteed by three primary stockholders. Moreover, as a result of RCG providing a new working capital line of credit, the company’s existing lender agreed to stay in on the real estate term loan.
 
“In all of our transactions, we make a point of looking beyond just the numbers on a balance sheet and a company’s past performance,” said Gene Walsh SVP and Business Development Officer at RCG. “We truly try to understand the challenges that a business is facing in the marketplace, and as a family-owned and operated business ourselves, we understand what it takes to keep growing and scaling for future generations.”