Kadenwood Group helps Ashley Black secure $10 million financing

Kadenwood Group advised Ashley Black on a $10 million working-capital financing for the direct-to-consumer maker of Class I medical devices. The deal closed on a two-month timeline and gives the company funding tied to sales growth.

Why it matters: - Ashley Black depends on working capital to fund production about four months before sales arrive. - The financing provides at least $10 million of growth capital on terms designed to support expansion. - The structure includes a second piece that can accordion as sales grow, which could give Ashley Black more capacity later.

What happened: - Kadenwood Group advised Ashley Black on a $10 million working-capital financing. - The deal was executed on a two-month timeline. - The financing was structured as a fixed term loan. - Kadenwood Group said the second piece can expand as sales grow. - Ruben Schwagermann, senior managing director at Kadenwood Group, led the engagement. - Brandy Hipp, CFO of Ashley Black, asked Kadenwood Group to handle the first lender conversations and only bring forward parties that would make an offer.

The details: - Ashley Black is a direct-to-consumer maker of Class I medical devices. - The company manufactures products about four months ahead of sales. - Hipp’s brief called for at least $10 million on good terms. - Hipp also wanted interest-only payments for a period, if possible. - The company wanted a lender that could potentially increase the facility to $20 million. - Kadenwood Group provided daily updates, and sometimes multiple updates per day, during the process. - Hipp said Kadenwood Group brought a term sheet before the first lender call. - Louis Garoz-Ferguson, founder and managing partner of Kadenwood Group, said the firm aims to create competitive tension among lenders to improve pricing. - Hipp’s interview and the Ashley Black case study are available at the company’s interview page. - Kadenwood Group’s website is the company’s website.

Between the lines: - The early term sheet suggests Kadenwood Group was able to pre-screen lenders quickly and compress the financing timeline. - The company’s sales cycle and inventory timing make financing structure especially important, since growth depends on upfront cash. - The mention of competitive tension signals a deliberate effort to improve pricing and terms by running multiple lender options.

What’s next: - Ashley Black can use the new financing to support inventory and operating needs as sales grow. - The accordion feature could allow the company to seek more capital later without restarting the process. - Kadenwood Group may continue using the same lender-selection approach for similar founder-led financings.

The bottom line: - Ashley Black secured growth capital quickly, and Kadenwood Group used a lender-screening process designed to sharpen terms before the first call.