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Bibby Financial Services Provides $11MM ABL to Fragrance Distributor

September 02, 2015, 07:36 AM
Filed Under: Distribution

Bibby Financial Services announces an $11 million revolving line of credit to Fragrance Acquisitions LLC, DBA Preferred Fragrance, a leading distributor of designer-inspired perfumes. This transaction is yet another asset-based lending facility provided by Bibby Financial Services, demonstrating their commitment to the middle market.

Preferred Fragrance is a leading developer and marketer of affordable fragrances. The New York-based company's products are sold at over 50,000 retail stores in the U.S. throughout the apparel, mass, value-priced and pharmacy sectors. Preferred Fragrance will use the funding to build inventory for seasonal orders. The company creates fragrances inspired by leading designers and celebrities and produces a number of collections.

"When companies have seasonal ebbs and flows due to retail demand, obtaining cash flow to continue producing can prove difficult," says Leigh Lones, Bibby Financial Services Americas CEO. "Asset-based lending is a practical way for a company to leverage its assets to get the working capital needed to keep its business moving forward. Bibby recognized value and is pleased to support Preferred's ownership and management team."

Bibby Financial Services, a worldwide market leader in business cash flow solutions, supports businesses of all sizes with flexible, customized financing solutions. With its asset-based lending and factoring products, the company provides clients access to the working capital needed to grow and support their businesses.

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