CBC Provides a $8.8 Million Asset Based Facility to Sabin Robbins, a Full Service Paper Convertor
April 22, 2014
NEW YORK – April 22nd, 2014 – Today, Capital Business Credit LLC (CBC) (www.capitalbusinesscredit.com), has provided an $8.8 million asset-based loan facility to Sabin Robbins Converting Co. (Sabin), a leading, full service paper convertor located in Ohio. CBC assisted the equity sponsor, Theca, LLC, in the acquisition.
Under tight closing deadlines, Capital Business Credit developed a multi collateralized credit facility to support the acquisition, while also satisfying Sabin’s daily operational requirements.
“As a non-bank lender, we were able to work with the equity team and Sabin to customize a financing solution that met Sabin’s uniquely specific needs. Given the tight closing schedule, I’m also pleased that we were able to exceed the client’s expectations.” said Marc Adelson, President and Chief Executive Officer of Capital Business Credit.
“Sabin has evolved over its 130 years in business into one of the premier paper convertors in the U.S. We were in search of lender who understood our business, our company strategy and could provide us with the flexibility we needed to operate in the current economic climate,” said Nathan Moser, CEO, Sabin Robbins. Moser added, “Capital Business Credit’s customized approach quickly provided us with a financial solution and has strategically positioned us for growth in the future. Additionally, CBC’s flexibility in structuring the credit facilities and ease to do business with, will enhance our ability to service the dynamic needs of our customer base”.
For more information about CBC’s asset-based loan programs please visit www.capitalbusinesscredit.com or contact Marc Adelson at 212.887.7903 / firstname.lastname@example.org.
About Capital Business Credit
Established in 1988, Capital Business Credit LLC (www.capitalbusinesscredit.com) is a commercial finance company specializing in providing creative supply chain financing solutions. The Company’s service offerings include: full-service factoring; immediate cash for receivables; single debtor credit coverage; letters of credit; accounts receivable management services; inventory lending; and international financing. CBC Trade Finance, a division of CBC, provides trade finance solutions for U.S.-based importers working with Asia-based suppliers (exporters). Capital Business Credit is based in New York, with offices in Hong Kong; Shanghai; Los Angeles; Charlotte, NC; and Fort Lauderdale, FL.