Our client (the “Company”) is seeking a new operating line or asset based facility, supported by accounts receivable and inventory, to fund the operations of its wholesaling and direct-marketing business headquartered in Ontario, Canada.
The Company develops and/or licenses unique consumer products and sells them to millions of consumers in numerous countries around the world. Sales are indirect, through retailers or other direct marketers, and direct to consumer through direct response television (DRTV) commercials and websites. Orders are filled through leased distribution facilities in North America, the United Kingdom, Australia, Scandinavia, the Netherlands and Mexico. The Company’s revenue in 2016 was over $135 million.
The Company seeks a new operating debt facility in the range of $15.0 to $20.0 million. Preference will be given to a single global supplier of the facility however consideration will be given to lenders that can provide funding on certain working capital assets or that provide specific regional solutions.
The full introduction letter can be found here. Consumer Products Company Introduction Letter – March 2017