Blacksail Capital Partners Closes $4,500,000 USD Credit Facility for a Snack Food Manufacturer

Blacksail Capital Partners announced the closing and funding of a $4,500,000 senior credit facility for a Snack Food Manufacturer based in Northeastern United States. Proceeds of the facility are being used to facilitate the acquisition of a complimentary snack food business, refinance existing debt and to support working capital for future growth. The facility consisted of $3.5 million revolver and $1.0 million term loan.

James Franz, President of Blacksail Capital Partners USA, stated: “We are pleased that we were able to help this company complete an acquisition that will enhance both businesses and provide an exit for one business owner. These types of transactions are what we do at the Garrington Group of Companies family. The acquirer was not able to get conventional financing, as they wanted two years of combined performance before they would even consider lending to the Snack Food Company. Blacksail was a perfect solution to ensure that they had capital to complete their deal and support future growth. We look forward to growing our partnership with them for many years to come.”

For more information, please contact James Franz, President of Blacksail Capital Partners USA at (716) 867.1166 or via email at james.franz@blacksailcp.com; or John Levac, President of Blacksail Capital Partners Canada at (416) 708.8746 or via email at john.levac@blacksailcp.com.

About Blacksail Capital Partners (Canada & USA)

Rebranded to Blacksail Capital Partners (“Blacksail”) from Next Edge Commercial Finance (in Northeast USA and Canada) in September 2019 to better reflect the change in ownership and becoming a member of the Garrington Group of Companies, Blacksail was established to complement Liquid Capital’s factoring business to focus on Asset Based Loans ranging from $1 million to $30 million.

Blacksail focuses its expertise on providing working capital solutions to the underserved small to the mid-sized middle market sector in North America. Serving many industries including; manufacturing, transportation and logistics, staffing, digital media, and consumer goods, amongst others, the company strives to provide quick access to capital, which would typically be more flexible than banks.

Further information can be found at www.blacksailcapitalpartners.com.

About Garrington Group of Companies

The Garrington Group of Companies was formed with the mission to oversee and fund entrepreneurial factoring and asset-based lending companies with creative and optimal financial solutions in order to serve the North American small and medium business space. The Garrington Group of Companies is a close-knit group of experienced and seasoned professionals who resolutely embrace a shared culture of respect, integrity, and optimism, to make North American SME businesses stronger.

The Garrington Group consists of three exclusive loan origination companies branded as Blacksail Capital Partners, IconiQ Finance and Liquid Capital, each with its own unique value proposition, and made up of a collective team of over 50 experienced loan originators. 

Further information can be found at www.garringtongroupco.com.