SOURCE: Bibby Financial Services

Bibby Financial Services

January 05, 2016 09:28 ET

Bibby Financial Services Canada Funds Manufacturer With $2.5 M Asset-Based Lending Facility

ABL and Factoring Leader Provides Asset-Based Loan to North America's Largest Manufacturer of Document Shredding Containers

MISSISAUGA, ON--(Marketwired - Jan 5, 2016) - Bibby Financial Services Canada announces a $2.5 million asset-based loan provided to the continent's largest manufacturer of office security containers.

The company has provided high-quality products since its inception in 2003 and has four fully-stocked warehouses, distribution and pickup centers throughout North America, with a focus on providing excellent customer service at every touchpoint.

Part-owned by a private equity firm looking to increase its dividend payments to fund other acquisitions, the company came to Bibby Financial Services (BFS) because it could no longer meet the debt-to-equity ratios required by traditional lending institutions.

BFS provided an affordable facility with a flexible financial covenant to support the growth of the company, while also allowing shareholders the ability to maximize their dividends.

"It's important for companies to consider the interests of shareholders, and often that means getting creative in their growth strategy," says Leigh Lones, Bibby Financial Services CEO, Americas. "Bibby Financial Services provides funding to companies in a variety of growth stages, and our financing options are flexible enough to meet the needs of virtually any company, private or public, large or small."

About Bibby Financial Services
Bibby Financial Services, a worldwide market leader in business financing solutions, supports businesses of all sizes in virtually every industry with flexible, customized funding solutions. With its asset-based lending and factoring products, the company provides clients access to the working capital needed to grow and support their businesses. Bibby Financial Services is proud to have helped more than 8,900 clients grow their businesses by providing more than $1 billion in funding across the globe. It operates offices in seven North American cities and 16 countries. Bibby Financial Services is a subsidiary of The Bibby Line Group, a privately held company established in the United Kingdom in 1807. For more information, please visit www.bibbycanada.ca.

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