Republic Business Credit Fuels Growth for Innovative Manufacturer with $4,000,000 Factoring Facility
Republic’s expertise and efficiency helped ensure a successful sponsor-led acquisition.
Los Angeles, December 2, 2024 – Fueled by a demand for its innovative automated handling solutions, a national manufacturer has partnered with Republic Business Credit to secure a $4,000,000 recourse factoring facility. Republic partnered with an independent private equity sponsor to complete the corporate divestiture of one orphan division that was primed for growth with the right partner.
Republic proved to be the ideal partner for the manufacturer's evolving needs thanks to its flexible financing solutions and collaborative approach. This strategic alliance will empower the company to capitalize on surging demand and accelerate its expansion plans. The PE sponsor wanted to reinforce the company’s opportunity for success on day one by setting up a revolver with Republic. The sponsor added, “Republic partnered with us throughout the acquisition process, often through nights and weekends, to ensure the revolving line was ready on our first day of ownership.”
"Our recourse factoring facility offers the company streamlined underwriting, enhanced financial flexibility and the vital capital needed to fuel its growth and realize its ambitious goals,” said Jason Carmona, SVP, Western Regional at Republic. “With Republic's comprehensive suite of financial solutions, the company has gained the flexibility to seamlessly transition to an ABL (Asset-Based Lending) line of credit as it achieves its strategic targets and objectives.”
The company specializes in the design and manufacturing of automated handling solutions for a variety of industries, including e-commerce, defense, transportation and industrials. The company saw rapid growth during Covid-19 due to its partnership with a national e-commerce company that expanded fulfillment operations to meet growing demand for online orders. Now the company is on the brink of another expansion, making this financial partnership so critical.
“We were impressed with the company’s strong management team and their vision for the future,” stated Robert Meyers, President of Republic. “This partnership exemplifies Republic's commitment to empowering businesses with the working capital they need to thrive in the dynamic landscape of today's marketplace.”
About Republic Business Credit
Republic Business Credit is a nationally recognized commercial finance company supporting the working capital requirements of companies nationwide, including private equity and entrepreneurial businesses. Republic provides asset-based lending, e-commerce, ledgered lines of credit, factoring and Fast AR Funding. Republic partners with its clients to provide up to $15 million in senior credit facilities to rapidly growing businesses, start-ups and companies experiencing recoverable distress. Republic is recognized by the Secured Finance Network as one of the largest finance companies in the United States of America. Republic is proud to be headquartered in New Orleans with additional offices in Chicago, Los Angeles, Houston and Atlanta. Republic is a wholly owned subsidiary of Renasant Bank.