Kadenwood Group Advised Ashley Black on $10 Million Working-Capital Financing

Kadenwood Group advised Ashley Black, a direct-to-consumer maker of Class I medical devices, on a $10 million working-capital financing, executed on a two-month timeline and built around the business: a fixed term loan with a second piece that can accordion as sales grow.

Ashley Black manufactures its products about four months ahead of sales, so growth runs on working capital. CFO Brandy Hipp's brief was at least $10 million on good terms, preferably interest only for a period, from a lender able to go up to $20 million. With a small team stretched thin, she asked the firm to take the first calls and bring only parties who would make an offer. Ruben Schwagermann, senior managing director, led the engagement, with updates daily and sometimes several times a day.

"Everybody says they'll only bring you viable deals. That's never been the case, until Kadenwood. Ruben had a term sheet on the table before we even did our first call. I would give you that warm intro 100%." said Brandy Hipp, CFO, Ashley Black.

"We always look to create competitive tension, as you're always going to get a better price if there's multiple people that are in contention," said Louis Garoz-Ferguson, founder and managing partner.

The full interview and case study: https://kadenwoodcapital.com/reviews/interviews/ashley-black; the firm: https://kadenwoodcapital.com.