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First Capital Provides $7.5MM ABL Facility to Triunfo-Mex, Inc.

June 28, 2013, 07:14 AM
Filed Under: Distribution

First Capital provided a $7.5 million asset-based lending facility to Triunfo-Mex, Inc., a leading distributor of Hispanic products including candy manufactured at its Mexican affiliate.  The credit facility is collateralized by the company’s accounts receivable and inventory.

First Capital was selected as the working capital partner based on its ability to structure a flexible financing package that would provide for current working capital needs as well as added availability to support growth.  The company needed a financing solution that provided sufficient working capital to refinance its bank line and support peak seasonal borrowing periods.

“The financing request was referred by the company’s advisor at Cembrus Capital who was looking for a lender that could tailor a package to meet the special needs of Triunfo-Mex, Inc.,” said Mark Orlando, senior vice president and business development officer. “We worked hard with both Cembrus personnel and company management to create the preferred solution which provided the most flexible terms and greatest amount of liquidity to support business growth.”

Maria Ines Candelario, president of Triunfo-Mex, Inc. stated “We were fortunate to have First Capital provide a larger facility which will allow our company to execute its growth plan.  Having the extended financing from First Capital allows us to increase our working capital and competitively position ourselves to sell through new and expanded sales channels.”

This transaction was sourced by Mark Orlando and will be serviced by First Capital’s Western Region located in Los Angeles, California, and managed by ABL Western Region manager Matthew Grimes.

First Capital provides working capital financing typically ranging from $2 million to $25 million primarily to small and middle-market companies with annual sales ranging from $10 million to $250 million.

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