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Avidbank Corporate Finance Provides $5MM to ICU Eyewear

October 17, 2013, 07:26 AM
Filed Under: Manufacturing

Avidbank Corporate Finance, a division of Avidbank that specializes in technology and asset-based funding, has provided $5 million of financing to ICU Eyewear, Inc. of Berkeley, CA. The facilities will be used for working capital flexibility and growth.

ICU Eyewear traces its roots back nearly 60 years. Since that time, it has become a nationally recognized leader in reading glasses, sunglasses, and outdoor sport eyewear. ICU Eyewear designs have transformed the reading glass industry with fun styles, bright colors and unique patterns at affordable prices for the everyday customer. ICU Eyewear has also been an innovator in the outdoor eyewear category and was one of the first companies to offer polarized lenses.

“Avidbank is delighted to be a part of ICU Eyewear’s success and views this company as a great addition to our Corporate Finance portfolio,” said Larry LaCroix, executive vice president and division manager of the Corporate Finance division. “ICU Eyewear, Inc. is a solid company with exciting growth plans, as well as great business discipline.”

“ICU Eyewear is delighted with our new partnership with Avidbank,” stated Rich Conti, CEO of ICU Eyewear. “ICU needed a partner who understands the needs of a high growth company, and Avidbank clearly fits the bill. We look forward to growing together.”

Avidbank Holdings, Inc., headquartered in Palo Alto, California offers innovative financial solutions and services and specializes in the following markets: commercial & industrial, corporate finance, asset-based lending, real estate construction and commercial real estate lending, and real estate bridge financing.

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