FGI Finance designs a multi-regional facility for A.T. Cross
A.T. Cross Company, a premier manufacturer of fine writing instruments and personal accessories, has set the standard for their products since the company was formed in 1846. Headquartered in Rhode Island, they have set up offices in Europe and Asia to sell to high-end stores, leading E-commerce retailers, and gifting distributors around the world.
The global growth trajectory of A.T. Cross naturally led them to outgrow their incumbent UK bank and was therefore referred to FGI by their private equity sponsor, Transom Capital. The company required a comprehensive working capital solution that would match their international growth, as lenders across the spectrum were unable to provide the right facility.
FGI was able to provide A.T. Cross with a multi-million dollar asset-based lending facility, encompassing receivables and stock lines, across their UK and Hong Kong based businesses. This enabled the company to provide working capital wherever they need it globally and allowed the management of the company to focus on the design and sales side of the business without having to worry about the constraints of their financing line.