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Rosenthal Closes $11MM Asset-Based Lending Transaction for Seafood Importer, Distributor

April 16, 2024, 08:10 AM
Filed Under: Distribution

Rosenthal & Rosenthal completed an asset-based lending transaction for a major seafood importer totaling $11 million.
Based in the Southeast, the company imports and distributes high-quality frozen seafood to major food wholesalers and retail partners throughout the Eastern and Southeastern U.S. In 2023, the company found itself in a turnaround situation with a highly concentrated customer. The client’s Chicago-based turnaround consultant brought in Rosenthal as a potential financing partner. Although the client initially went with a bank ABL, Rosenthal reconnected with the client at the industry’s largest trade show, and within three weeks of that meeting, Rosenthal was able to provide the client with a $11 million asset based lending facility backed by accounts receivable and inventory.
“This transaction is a great example of why Rosenthal’s products and offerings can be excellent alternatives to working with a bank,” said Andrew O’Day, Vice President of Business Development at Rosenthal. “Rosenthal’s flexibility, speed to close and our ability to provide non-dilutive working capital solutions without the red tape and restrictions that often go hand-in-hand with bank funding can make all the difference for companies looking to take advantage of sales opportunities.”

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