Siena Lending Group LLC announced the completion of a three-year $3 million senior secured revolving credit facility as part of a $13 million leveraged recapitalization for VIOlife, LLC. The facility was done in conjunction with subordinated debt and preferred equity provided by Banyan Mezzanine Fund and Diamond State Ventures. The transaction was sponsored by Consumer Growth Partners and PMC Partners.
Headquartered in Yonkers, NY, VIOlife, LLC is a premier developer, marketer and distributor of unique, stylish oral care and personal care products.
David Grende, President and CEO of Siena Lending Group, said, “We are pleased to be able to work in conjunction with the other senior lenders to fund a complex leveraged recapitalization. We look forward to working with the company as they execute their business plan for growth.”
Jonathan Pinsky, CEO of VIOlife, said, “We are very pleased with Siena’s execution in closing the transaction and their coordination with the other lenders as they acted with a high degree of professionalism.”
Siena Lending Group is an independent commercial finance company offering asset-based loans between $1 million and $20 million to small and middle market businesses across the United States. Siena also offers a turn-key servicing platform, which provides an attractive asset based product for community and regional banks that desire improved operating metrics and asset diversification.