Siena Lending Group LLC (“Siena”) announces the completion of a $10 million credit facility for Geneva Watch Group, Inc. ("Geneva") to refinance their existing senior debt and to support their working capital needs.
Headquartered in New York, NY, Geneva is a designer and distributor of branded fashion watches. The company's brands include Kenneth Cole, Ted Baker and Sean John. Geneva uses its experienced product development and design team in collaboration with its branded customers with whom they have had long-standing relationships.
Stephen Fuscaldo, Director of Siena Lending Group, said, "We are pleased to provide a flexible asset based facility to Geneva to allow them to increase sales with their existing brands as well as expanding their brand capability to obtain licenses for other brands."
Christian Frommherz, CEO of Geneva's parent company, said, "Siena demonstrated a high level of professionalism and were able to execute and close in the time frame necessary. We look forward to a long relationship with Siena as we look towards future opportunistic acquisitions."