White Plains, New York (January 2, 2019) – Reich Brothers Holdings, LLC is pleased to announce the recapitalization of its affiliated finance company, now known as Reich Bros Structured Finance, LLC (“Reich Bros Finance”). For more information, please see www.reichbrosfinance.com
Reich Bros Finance is an asset-based lender that helps borrowers unlock value in capital assets through financing solutions customized to meet the borrower’s needs. Financing solutions include sale-leaseback, capital lease, term loan, secured loan and other structured transactions, and assets include machinery, equipment and industrial real estate. Reich Bros Finance provides capital to companies across a wide range of industries, including agriculture, construction, energy, food and beverage, healthcare, industrial, manufacturing, mining, pharmaceuticals, technology and transportation. The Company’s team can quickly and creatively structure and close credit facilities from $500,000 to $20 million.
As part of the recapitalization, Reich Bros Finance has obtained increased credit facilities allowing for growth of the loan portfolio. An affiliate of Liquid Capital Corp. (“Liquid Capital”) has provided a portion of the facilities and also taken an equity stake in the business. Liquid Capital is a Toronto-based commercial finance business which is in a joint venture partnership with Next Edge Capital Corp. (“Next Edge”), a Toronto-based asset management firm with a variety of private lending funds on its platform.
The principals of Reich Brothers LLC, Jonathan and Adam Reich will maintain their ownership stake in the business. Additionally, Jordan Allen, formerly a partner at Victory Park Capital, LLC, joins the company as a Principal. Prior to joining Reich Brothers Finance, Mr. Allen served as the Chief Operating Officer of Victory Park Capital, a leading middle-market private equity and private debt firm. Prior to Victory Park Capital, Mr. Allen served as co-head of North America, Chief Operating Officer and Chief Financial Officer of Man Investments USA. Previously, Allen served as president and partner of HFR Asset Management, a hedge fund manager, from 2003 to 2009, and held various roles within Equity Group Investments.
“Liquid Capital, Next Edge and I are excited to build on the success the company has had over the past four years,” said Mr. Allen. “The Liquid Capital/Next Edge teams bring together their unique ability to raise and deploy capital along with extensive loan sourcing capabilities through the networks of other complementary businesses. For example, Liquid Capital maintains approximately 60 Principal offices throughout the United States and Canada.”
Joining Mr. Allen in Chicago will be Lee Portman, Chief Financial Officer. Most recently, Mr. Portman was the CFO of INXPO, a venture-backed software-as-a-service company, and previously held positions at Citadel LLC, Northern Trust and PWC.
About Reich Brothers Holdings, LLC
Reich Brothers Holdings, LLC specializes in acquisition, reposition and management of turnkey manufacturing plants. The company works in tandem with local constituencies to increase the economic viability of older manufacturing facilities. The company has a wide spectrum of industrial real estate assets under management, including the former Heinz Kraft facility in Madison WI and former Columbus Castings facility in Columbus, OH. For more information, visit www.reichbros.com.
About Liquid Capital Corp.
Liquid Capital Corp. is a full-service working capital and trade finance network and has been in operations since 1999. The Liquid Capital Corp. network has the largest geographic footprint of alternative funding professionals, with approximately 60 independently-owned businesses across North America, offering clients a customized and flexible approach with local decision makers. We offer a complete range of solutions for all industries and provide immediate financing upon approval with no long-term contracts or hidden fees. Further information can be found at www.liquidcapitalcorp.com.
About Next Edge Capital Corp.
Next Edge Capital Corp. is an alternative investment fund manager and a leader in the structuring and distribution of Liquid Alternative and Private Credit fund products in Canada. Formerly a wholly-owned subsidiary of Man Group plc., the firm is led by a management team responsible for raising over $3 billion of alternative assets since 2000. Next Edge specializes and focuses on providing unique, non-correlated pooled investment vehicles to the Canadian retail marketplace. Further information can be found at www.nextedgecapital.com.