Bibby Financial Services Closes 307 Transactions Totaling More than $104 Million in 2015
Bibby Financial Services secured a total of $104,660,000 in financial solutions for 307 new clients in 2015. Most of the company’s largest deals involved revolving lines of credit above $2 million, evidence of the company’s successful expansion into asset-based lending.
• $11 million to a New York-based developer of licensed celebrity fragrances to expand its product line
• $7 million to a packaging manufacturer based in the Midwest to repay an existing lender and fund operational needs of the business
• $6.5 million to a Canadian skilled IT staffing firm to repay an existing line of credit and cover the cost of daily operations
• $6.5 million to an apparel distributor in Miami to pay down supplier obligations and support working capital needs
• $6 million to an Atlanta IT staffing and consulting firm to facilitate the company’s growth without the restricting limitations of financial covenants
• $4 million to a New York manufacturer of personal care devices to enable a strategic turnaround and growth plan
• $3 million to a manufacturer/distributor of industrial packaging goods based in the southern United States to be used for working capital
• $2.5 million to an Ontario-based manufacturer to support company growth and maximize shareholder dividends
• $2 million to a candy and snack distributor in New Jersey to be utilized for working capital
• $2 million to a manufacturer/distributor of industrial packaging goods based in the southern U.S. to be used for working capital
“2015 was a year of solid growth for Bibby Financial Services,” says Leigh Lones, chief executive officer of Bibby Financial Services, Americas. “With the recent addition of a number of key staff members, we are confident that we are poised for continued growth in 2016 and look forward to serving new and established customers with the same level of service we have always strived to achieve.”
About Bibby Financial Services
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. Bibby Financial Services is proud to have helped more than 8,900 clients grow their businesses by providing nearly $1 billion in funding across the globe. It operates offices in seven North American cities and 16 countries. Bibby Financial Services is a subsidiary of The Bibby Line Group, a privately held company established in the United Kingdom in 1807. For more information, please visit www.bibbyusa.com or www.bibbycanada.ca.