Rosenthal + Gordon Brothers Team Up to Provide $16M Financing Facility to Jonathan Adler

Rosenthal + Gordon Brothers Team Up to Provide $16M Financing Facility to Jonathan Adler

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Rosenthal + Gordon Brothers Team Up to Provide $16M Financing Facility to Jonathan Adler

Rosenthal & Rosenthal, Inc., the leading independent factoring, asset based lending and purchase order financing firm in the U.S., and Gordon Brothers, the global advisory, restructuring and investment firm, announced today the completion of a joint financing deal with Jonathan Adler, the global luxury designer housewares brand. Under the deal, the two firms will provide a total of $16 million in working capital to Jonathan Adler to support the launch and execution of an exclusive e-commerce brand and product partnership with a major online retailer. 

Rosenthal, the senior lender, is providing a $12 million asset based loan against all Jonathan Adler assets, including accounts receivable and inventory. The junior lender, Gordon Brothers, is providing an additional $4 million loan against trademarks and other intellectual property. The financing gives Jonathan Adler more borrowing base availability and frees up additional capital for the brand’s continued e-commerce expansion and other business development initiatives. 

“Teaming up with Gordon Brothers allowed us to come to the table with a truly robust and resourceful financing deal that gives Jonathan Adler the working capital, stability and flexibility it needs to venture down this thrilling new path,” said Robert Miller, Executive Vice President and Head of Asset Based Lending. “Rosenthal’s expertise in the retail space and our creativity for tailoring financing alternatives to address the specific needs of our clients were the perfect combination for this deal.”

“We see tremendous value in this iconic brand with significant growth potential through this new partnership,” said Ramez Toubassy, President of Gordon Brothers’ brands practice. “We’re excited to be part of building the future of Jonathan Adler as the brand gains access to new channels and new customers as a result of this financing.” 

For more information about Rosenthal and this transaction, please visit www.rosenthalinc.comand contact Robert Miller at 212-356-0960 or rmiller@rosenthalinc.com.

For more information about Gordon Brothers and this transaction, please visit www.gordonbrothers.comand contact Ramez Toubassy at 310-243-6766. 

Rosenthal sponsors dinner with Accessories Council and SWAAY to honor women CEO's

Rosenthal sponsors dinner with Accessories Council and SWAAY to honor women CEO's

 
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What I’ve come to learn over the years more than anything is, it doesn’t matter how outnumbered I am, it’s my unique perspective and approach to business that allows me to affect change.
— Cassie Rosenthal
 

SWAAY in partnership with Accessories Council hosts this female forward dinner aptly named “A Night of Empowerment.” Guests included executives from brands like Luxottica, Steve Madden Handbags, and the Jewelry Group, as well as founders of emerging brands like ADAY, Neely & Chloe, INSPR, and Affordable Luxury Group.


Cassie Rosenthal moderates a panel at The Lead Assembly @ Cadillac House. Panelists included Aaron Sanandres, CEO of Untuckit, Mariah Chase, CEO of Eloquii, and Daniella Yacobovsky, CEO of Baublebar

Cassie Rosenthal moderates a panel at The Lead Assembly @ Cadillac House. Panelists included Aaron Sanandres, CEO of Untuckit, Mariah Chase, CEO of Eloquii, and Daniella Yacobovsky, CEO of Baublebar

The question at hand- What is next for Digital Native Vertical Brands? In a panel led by Cassie Rosenthal (SVP, Rosenthal & Rosenthal), Aaron Sanandres (Co-Founder & CEO, UNTUCKit), Daniella Yacobovsky (Co-Founder, BAUBLEBAR), and Mariah Chase (CEO, ELOQUII) shared their thoughts on brick and mortar retail, wholesale partnerships, geographical focus and next steps for growth.


FIT Honors Ivan Bart, Jane Hertzmark Hudis and J. Michael Stanley at Annual Awards Gala

FIT Honors Ivan Bart, Jane Hertzmark Hudis and J. Michael Stanley at Annual Awards Gala

 
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This year’s high-spirited event raised $1.3 million to benefit the FIT Foundation.

Some 550 people attended Fashion Institute of Technology’s Annual Awards Gala at Cipriani on 42nd Street in New York Thursday night honoring Ivan Bart, president of IMG Models and Fashion Properties; Jane Hertzmark Hudis, group president at the Estée Lauder Cos. Inc., and J. Michael Stanley, managing director at Rosenthal & Rosenthal.


ROSENTHAL HIRES SEASONED SENIOR ACCOUNT EXECUTIVE KEVIN STAPLETON FOR  NEW YORK OFFICE

ROSENTHAL HIRES SEASONED SENIOR ACCOUNT EXECUTIVE KEVIN STAPLETON FOR NEW YORK OFFICE

(NEW YORK)JUNE 5, 2018Rosenthal & Rosenthal, Inc., the leading independent factoring, asset based lending (ABL) and purchase order financing firm in the United States, today announced the appointment of Kevin Stapleton as Senior Vice President, Senior Account Executive in the firm’s New York office. Stapleton will be responsible for managing accounts across Rosenthal’s factoring portfolio.

ROSENTHAL HIRES SEASONED BUSINESS DEVELOPMENT EXECUTIVE MARK COLLINS FOR SOUTHEAST REGION

ROSENTHAL HIRES SEASONED BUSINESS DEVELOPMENT EXECUTIVE MARK COLLINS FOR SOUTHEAST REGION

(NEW YORK)May 30, 2018Rosenthal & Rosenthal, Inc., the leading independent factoring, asset based lending and purchase order financing firm in the United States, today announced the appointment of Mark Collins as Senior Vice President in the firm’s newest office in Atlanta. Collins will be responsible for business development throughout the Southeast and across the firm’s divisions. The appointment is effective May 30, 2018.


Rosenthal participates in the JP Morgan Corporate Challenge

Rosenthal participates in the JP Morgan Corporate Challenge

This was the first year the NYC office participated in the Corporate Challenge. While the 3.5-mile course throughout Central Park can prove to be difficult everyone was able to complete the run. It was all smiles at the finish line as the group re-convened at the Keg Room for a celebratory drink. The event was a great success and Rosenthal looks forward to making this an annual tradition going forward.

ROSENTHAL HIRES SEASONED BUSINESS DEVELOPMENT EXECUTIVE JOEL WOLITZER AS SENIOR VICE PRESIDENT

ROSENTHAL HIRES SEASONED BUSINESS DEVELOPMENT EXECUTIVE JOEL WOLITZER AS SENIOR VICE PRESIDENT

(NEW YORK)May 1, 2018Rosenthal & Rosenthal, Inc., the leading independent factoring, asset based lending and purchase order financing firm in the United States, today announced the appointment of Joel Wolitzer as Senior Vice President in the New York office. Wolitzer will be responsible for business development across the firm’s divisions. The appointment is effective May 1, 2018.


CISION PR Newwire

CISION PR Newwire

Rosenthal Acquires Domestic Factoring Portfolio From BB&T (NYSE: BBT)

Deal Includes 90 Clients, Adds Approximately $2B to Existing $9B Factored Volume

NEW YORK, Jan. 31, 2018 /PRNewswire/ -- Rosenthal & Rosenthal, Inc., the leading independent factoring, asset based lending and purchase order financing firm in the United States, today announced the completion of a deal to acquire the domestic factoring portfolio of BB&T Corporation (NYSE: BBT), one of the largest financial services holding companies in the United States.

As part of the deal, Rosenthal will acquire BB&T's portfolio of 90 factoring clients, adding approximately $2 billion in volume to its already robust $9 billion in factored volume. Rosenthal will add a front office in Georgia and back office support in North Carolina to manage the new portfolio. These two new locations complement Rosenthal's already existing California office and New York headquarters. Twenty-five BB&T factoring professionals will join the nearly 200 Rosenthal staff currently serving the firm's clients nationwide.

The deal marks the first acquisition in Rosenthal's 80-year history and positions the firm to further diversify the regions and industries it currently serves. This significant expansion allows Rosenthal to continue to develop new business opportunities within the furniture, casual living, fabrics and textiles industries, alongside the fashion, apparel, accessories, manufacturing, food & beverage and gift & home sectors, where Rosenthal has had historically strong relationships.

"We are excited to acquire BB&T's portfolio of factoring clients and honored to welcome their talented team of professionals into the Rosenthal family," said Peter Rosenthal, President of Rosenthal & Rosenthal. "This acquisition is a logical step forward for our firm, significantly advancing our goal of establishing Rosenthal as the leading independent national finance company."

"We are pleased to be a part of this transaction with Rosenthal & Rosenthal," said BB&T Specialized Finance and Operations Manager Robert Fentress. "Both our clients and associates will benefit from an association with one of the most respected firms in the factoring and asset based lending business."

ABOUT ROSENTHAL & ROSENTHAL

Rosenthal & Rosenthal (www.rosenthalinc.com) is the leading independent factoring, asset based lending and purchase order financing firm in the United States. Founded in 1938 by Imre J. Rosenthal, the firm is now led by the second and third generations of the Rosenthal family. As a privately held company, Rosenthal is committed to providing personalized service and flexible lending to clients across a broad range of industries. Rosenthal has offices in New York, California, Georgia and North Carolina.

BB&T

BB&T is one of the largest financial services holding companies in the U.S. with $221.6 billion in assets and market capitalization of $38.9 billion as of December 31, 2017. Building on a long tradition of excellence in community banking, BB&T offers a wide range of financial services including retail and commercial banking, investments, insurance, wealth management, asset management, mortgage, corporate banking, capital markets and specialized lending. Based in Winston-Salem, N.C., BB&T operates over 2,000 financial centers in 15 states and Washington, D.C. A Fortune 500 company, BB&T is consistently recognized for outstanding client service by Greenwich Associates for small business and middle market banking. More information about BB&T and its full line of products and services is available at BBT.com.

View original content:http://www.prnewswire.com/news-releases/rosenthal-acquires-domestic-factoring-portfolio-from-bbt-nyse-bbt-300590699.html

SOURCE Rosenthal & Rosenthal, Inc.

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http://www.rosenthalinc.com

ABF Journal

ABF Journal

Rosenthal to Acquire BB&T Factoring Portfolio

 

Rosenthal & Rosenthal will acquire the domestic factoring portfolio of BB&T.

Rosenthal will procure 90 factoring clients from BB&T’s portfolio, adding approximately $2 billion in volume to its $9 billion in factored volume. The company will also add a front office in Georgia and back office support in North Carolina to manage the new portfolio. Additionally, 25 BB&T factoring professionals will join the Rosenthal staff.

The deal is the first acquisition in Rosenthal’s 80-year history. The expansion will allow Rosenthal to continue to develop new business opportunities within the furniture, casual living, fabrics and textiles industries, alongside the fashion, apparel, accessories, manufacturing, food and beverage and gift and home sectors.

“We are excited to acquire BB&T’s portfolio of factoring clients and honored to welcome their talented team of professionals into the Rosenthal family,” said Peter Rosenthal, president of Rosenthal & Rosenthal. “This acquisition is a logical step forward for our firm, significantly advancing our goal of establishing Rosenthal as the leading independent national finance company.”

By Jessica Seaman   –  Reporter, Triad Business Journal

By Jessica Seaman – Reporter, Triad Business Journal

BB&T Corp. sells factoring portfolio to New York firm


By Jessica Seaman
 –  Reporter, Triad Business Journal

Jan 31, 2018, 6:29am

BB&T Corp. (NYSE: BBT) has agreed to sell its domestic factoring portfolio to Rosenthal & Rosenthal Inc., the companies said Wednesday.

As a result of the acquisition, 25 of BB&T's employees in the factoring division will join Rosenthal, which will have an office based in High Point.

"This deal also allows BB&T to continue its reconceptualization effort to focus on the businesses that are a better long-term strategic fit for our company," said Brian Davis, spokesperson for BB&T.

As part of the deal, Rosenthal will acquire 90 factoring clients from BB&T, which it says will add about $2 billion in factored volume.

Factoring, offered by BB&T through its Commercial Lending division, offers accounts receivable management services to replace credit and collection functions within an organization. It also provides working capital secured by foreign or domestic accounts receivable and inventory.

Rosenthal is an independent factoring, asset-based lending and purchase-order financing firm based in New York. The company also plans to add a office in Georgia as a result of the deal.

Rosenthal said it's the first acquisition in the company's history. The company said it will allow it to diversify in the region and other industries.

“We are excited to acquire BB&T’s portfolio of factoring clients and honored to welcome their talented team of professionals into the Rosenthal family,” said Peter Rosenthal, president of the company “This acquisition is a logical step forward for our firm, significantly advancing our goal of establishing Rosenthal as the leading independent national finance company.”

The announcement of the acquisition comes on the heels of BB&T's recent commitment to spend up to $50 million to invest or acquire emerging fintech companies.

ROSENTHAL ACQUIRES Domestic Factoring PORTFOLIO  FROM BB&T (NYSE: BBT)

ROSENTHAL ACQUIRES Domestic Factoring PORTFOLIO FROM BB&T (NYSE: BBT)

Deal Includes 90 Clients, Adds Approximately $2B to Existing  $9B Factored Volume


(NEW YORK)January 31, 2018Rosenthal & Rosenthal, Inc., the leading independent factoring, asset based lending and purchase order financing firm in the United States, today announced the completion of a deal to acquire the domestic factoring portfolio of BB&T Corporation (NYSE: BBT), one of the largest financial services holding companies in the United States.

As part of the deal, Rosenthal will acquire BB&T’s portfolio of 90 factoring clients, adding approximately $2 billion in volume to its already robust $9 billion in factored volume. Rosenthal will add a front office in Georgia and back office support in North Carolina to manage the new portfolio. These two new locations complement Rosenthal’s already existing California office and New York headquarters. Twenty-five BB&T factoring professionals will join the nearly 200 Rosenthal staff currently serving the firm’s clients nationwide. 

The deal marks the first acquisition in Rosenthal’s 80-year history and positions the firm to further diversify the regions and industries it currently serves. This significant expansion allows Rosenthal to continue to develop new business opportunities within the furniture, casual living, fabrics and textiles industries, alongside the fashion, apparel, accessories, manufacturing, food & beverage and gift & home sectors, where Rosenthal has had historically strong relationships. 

“We are excited to acquire BB&T’s portfolio of factoring clients and honored to welcome their talented team of professionals into the Rosenthal family,” said Peter Rosenthal, President of Rosenthal & Rosenthal. “This acquisition is a logical step forward for our firm, significantly advancing our goal of establishing Rosenthal as the leading independent national finance company.”

“We are pleased to be a part of this transaction with Rosenthal & Rosenthal,” said BB&T Specialized Finance and Operations Manager Robert Fentress. “Both our clients and associates will benefit from an association with one of the most respected firms in the factoring and asset based lending business.”


ABOUT ROSENTHAL & ROSENTHAL

Rosenthal & Rosenthal (www.rosenthalinc.com) is the leading independent factoring, asset based lending and purchase order financing firm in the United States. Founded in 1938 by Imre J. Rosenthal, the firm is now led by the second and third generations of the Rosenthal family. As a privately held company, Rosenthal is committed to providing personalized service and flexible lending to clients across a broad range of industries. Rosenthal has offices in New York, California, Georgia and North Carolina. 

BB&T

BB&T is one of the largest financial services holding companies in the U.S. with $221.6 billion in assets and market capitalization of $38.9 billion as of December 31, 2017. Building on a long tradition of excellence in community banking, BB&T offers a wide range of financial services including retail and commercial banking, investments, insurance, wealth management, asset management, mortgage, corporate banking, capital markets and specialized lending. Based in Winston-Salem, N.C., BB&T operates over 2,000 financial centers in 15 states and Washington, D.C. A Fortune 500 company, BB&T is consistently recognized for outstanding client service by Greenwich Associates for small business and middle market banking. More information about BB&T and its full line of products and services is available at BBT.com.


 

 

Winston-Salem Journal

Winston-Salem Journal

BB&T agrees to sell factoring portfolio worth $2 billion


BB&T Corp. is exiting the domestic factoring business, agreeing to sell its $2 billion portfolio to Rosenthal & Rosenthal Inc. of New York, the companies said in a statement timed for release today.

Terms of the deal were not disclosed.

Factoring, which has been offered by BB&T Commercial Finance, involves accounts-receivable management services to replace most credit and collection functions within an organization. It also involves providing working capital secured by foreign or domestic accounts receivable and inventory.

Rosenthal gains 90 BB&T factoring clients and expands its factoring portfolio to $11 billion. Many of the factoring clients are involved in the furniture, casual living, fabrics and textiles industries.

“We believe this deal presents a tremendous long-term opportunity for our factoring clients,” BB&T spokesman Brian Davis said.

“Rosenthal & Rosenthal will be able to leverage their extensive capabilities in this space, along with the expertise of our professional teams based in Georgia and North Carolina.”

Tony Plath, a finance professor at UNC Charlotte, said factoring “is really industry-specific, and it’s common in both the textile and furniture industries.”

“Since these aren’t exactly booming these days, it’s not a growing line of business for banks. That likely explains BB&T’s motivation to exit the business.”

It is the first acquisition in Rosenthal’s 80-year history and expands its reach into the Southeast. Rosenthal’s focus has been on the fashion, apparel, accessories, manufacturing, food and beverage, and gift and home sectors,

About 25 BB&T employees will join Rosenthal. Rosenthal will add an office in Georgia and retain back-office support in High Point, supplementing its New York headquarters and California office with a combined nearly 200 employees.

“This acquisition is a logical step forward for our firm, significantly advancing our goal of establishing Rosenthal as the leading independent national finance company,” said Peter Rosenthal, the firm’s president.

The divestiture of the factoring portfolio represents a step in BB&T’s recent initiative to focus more on what executives consider as more core business.

That includes restructuring its auto and mortgage lending portfolios in what Kelly King, its chairman and chief executive, calls “making long-term strategic changes” projected to grow both portfolios beginning in the second half of 2018.

“We continue to have more emphasis on all of our national lending businesses, our corporate business, our leasing businesses, particularly around our equipment, our auto portfolio,” King told analysts during a fourth-quarter earnings conference call Jan. 18.

“We’re changing, but we’re also expanding it more broadly across the country. Our mortgage portfolio, we’re expanding in a lot of new markets and other places in terms of our brokerage business around the country. Our wealth business continues to grow and we invest substantially more assets in that.”

Plath said selling the portfolio makes sense given that King “has already chartered a strategic path for capital allocation across the bank’s core initiatives, such as expanding its reach in existing markets in the Midwest and Texas, small- and mid-sized corporate commercial and industrial lending, and becoming a leader in back- and front-office technology innovation and adoption in the industry.”

King said a heightened focus on expense control, such as the decision to close 147 branches in 2017 is helping the bank “optimize our structure.”

Branches in Denton, Lexington and Whitsett were affected by the decision.

The branch total was 2,049 as of Dec. 31.

King said the bank expects to close another 150 branches in 2018.

It has confirmed plans to close its branch in Valdese.

“We’ve still got a lot of small branches in a lot of rural areas, and we’re being much more aggressive in terms of rationalizing that structure,” King said. “You can expect to see that continue for a number of years.”

King stressed that management is “tightly focused on organic growth.”

“We are re-conceptualizing our business. We’re disrupting our businesses. We’re preparing for the future and we’re very excited about the future.”