Outdoor Products Mfg & Distributor
Revolving Credit Line
INCREASED WORKING CAPITAL SUPPORTS GROWTH
This company has a long history in the personal flotation device (PFD) industry. Having previously started a company which he sold to a large well known outdoor products company, the founder returned to the PFD industry in 2002 with new life jackets and the goal of creating products that were first in class and good for the environment. After successfully growing the PFD business, the company started making footwear in 2012 because, in their words, “sandals are awkward, neoprene booties are toxic, and there was no river shoe with adequate grip, let alone good looks.”
Sales for the footwear segment have been growing significantly over the last few years, and the company’s bank sought out Lighthouse to support the growth. Lighthouse was able to structure an aggressive line of credit against accounts receivable and inventory to support the seasonal working capital needs of the business. The additional working capital will allow the company to continue the growth in the footwear segment that compliments the established PFD business.