Reich Brothers Business Solutions partnered with another lender to close a $2.6 million capital lease facility backed by the textile manufacturing equipment of a North Carolina-based manufacturer of dobby and jacquard fabrics for upholstery, bedding, wallcovering and drapery applications.
RBBS was brought into the transaction by an equipment lender which sought to leverage the firm’s institutional experience and expertise with textile manufacturing equipment. Over the last 20 years, the principals of Reich Bros. have successfully purchased and sold more than $100 million of value of textile manufacturing equipment through both auctions and negotiated sales with end users.
Kyle Sligar, president of RBBS, said, “Reich Bros. is pleased to support a successful entrepreneur who is leading a resurgence in quality, American-made textiles. After a long period of decline in the US, we are seeing increasing investment into the industry as domestic purchasers seek suppliers who not only provide high quality product, but also exhibit a high degree of responsiveness to customer design needs and lead time requirements. Specialized equipment knowledge is critical in a challenging industry environment and we were glad to be in a position to bring that to bear on this transaction.”
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