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Rosenthal Closes Joint Factoring, PO Financing Facility for Specialty Foods Company Totaling $5.5MM

March 09, 2023, 07:35 AM

Rosenthal & Rosenthal completed a combined deal for a specialty foods company that includes a $3.5 million recourse factoring facility and a $2 million purchase order line.
Based in the Southeast, the client is a provider of high-quality sous-vide produced meats that are professionally cooked, frozen and then distributed to restaurants for easy and quick preparation. With several large orders on the horizon with major food distributors, the client required an alternative financing solution that would support these new growth opportunities.
After being introduced to the client by a third-party bank, Rosenthal was able to seamlessly provide the company with a $3.5 million recourse factoring facility in tandem with a $2 million purchase order line. As part of the deal, the purchase order financing will issue purchase guarantees to one of the company’s domestic suppliers that will assist with the purchasing of pre-sold inventory against customer orders from large food distributors. With the purchase order financing and purchase guarantees in place, the company will be better positioned to take on larger orders.
“What appealed most to this particular client was Rosenthal’s extensive track record as well as our ability to offer both purchase order financing and accounts receivable funding side by side,” said Leigh Lones, SVP and Director of Recourse Factoring at Rosenthal.
“This transaction is a perfect example of how Rosenthal works hard to find the right mix of financing tools that help to move our clients’ businesses forward,” said Megan Flaherty, SVP and Underwriting Manager for Rosenthal’s Purchase Order Financing division.
This week, Rosenthal also named Brian Gagel as Recourse Factoring Portfolio Manager, based in the firm’s Atlanta office. Gagel is responsible for client management within Rosenthal’s new and fast-growing Recourse Factoring division. Prior to joining Rosenthal, he was Managing Director at eCapital Commercial Finance and previously held various roles with Bibby Financial Services USA and Renasant Business Credit. Gagel also served for eight years in the U.S. Marine Corps and holds a BBA from Kennesaw State University.

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