Recapitalization And Name Change For Reich Bros Structured Finance, LLC
WHITE PLAINS, N.Y., Jan. 8, 2019 /PRNewswire/ -- Reich Brothers Holdings, LLC is pleased to announce the recapitalization of its affiliated finance company, now known as Reich Bros Structured Finance, LLC ("Reich Bros Finance"). For more information, please see www.reichbrosfinance.com.
Reich Bros Finance is an asset-based lender that helps borrowers unlock value in capital assets through financing solutions customized to meet the borrower's needs. Financing solutions include sale-leaseback, capital lease, term loan, secured loan and other structured transactions, and assets include machinery, equipment and industrial real estate. Reich Bros Finance provides capital to companies across a wide range of industries, including agriculture, construction, energy, food and beverage, healthcare, industrial, manufacturing, mining, pharmaceuticals, technology and transportation. The Company's team can quickly and creatively structure and close credit facilities from $500,000 to $20 million.
As part of the recapitalization, Reich Bros Finance has obtained increased credit facilities allowing for growth of the loan portfolio. An affiliate of Liquid Capital Corp. ("Liquid Capital") has provided a portion of the facilities and also taken an equity stake in the business. Liquid Capital is a Toronto-based commercial finance business which is in a joint venture partnership with Next Edge Capital Corp. ("Next Edge"), a Toronto-based asset management firm with a variety of private lending funds on its platform.
The principals of Reich Brothers LLC, Jonathan and Adam Reich will maintain their ownership stake in the business. Additionally, Jordan Allen, formerly a partner at Victory Park Capital, LLC, joins the company as a Principal. Prior to joining Reich Brothers Finance, Mr. Allen served as the Chief Operating Officer of Victory Park Capital, a leading middle-market private equity and private debt firm. Prior to Victory Park Capital, Mr. Allen served as co-head of North America, Chief Operating Officer and Chief Financial Officer of Man Investments USA.
"Liquid Capital, Next Edge and I are excited to build on the success the company has had over the past four years," said Mr. Allen. "The Liquid Capital/Next Edge teams bring together their unique ability to raise and deploy capital along with extensive loan sourcing capabilities though the networks of other complimentary businesses. For example, Liquid Capital maintains approximately 60 Principal offices throughout the United States and Canada."
Media contact: Ron Schinik
[email protected]
(914) 719-6071
SOURCE Reich Bros Finance
Related Links
https://www.reichbrosfinance.com
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