Siena Lending Group LLC, in conjunction with North Mill Capital, LLC, announces the completion of a three-year $25 million asset based revolving credit facility for D&M Holdings US, Inc. and D&M Canada, Inc., to support their growth and seasonal working capital requirements. Headquartered in Mahwah, NJ, D&M Group manufactures and distributes premium home theater, audio, and software products sold under the Denon, Marantz and Boston Acoustic brand names.
David Grende, President and CEO of Siena Lending Group, said, “We are pleased to provide a flexible asset based facility to D&M Holdings US, Inc. and D&M Canada, Inc. that will help the companies grow and execute their growth initiatives especially regarding HEOS - its wireless multi-room sound system. We are pleased that D&M recognized Siena Lending Group’s successful track record of delivering what we propose and our ability to structure a transaction that was flexible and fits all of their needs. The management team at D&M is first class and we look forward to working with them as they execute on their strategic plan”.
Jeff Goldrich, President and CEO of North Mill, said, “The Siena Lending Group and North Mill Capital participation provides a highly competitive financing alternative in the market and we are particularly excited to be part of the D&M opportunity.” North Mill Capital is a national asset-based lender and factor with full service offices in Princeton, New Jersey and Minneapolis, Minnesota.
Blake DeSimone, Chief Financial Officer of D&M, said, “We are pleased to have Siena as a financial partner. Siena’s management team is experienced and highly regarded in the lending industry. They took the time to understand our business and to structure a deal that will help the Company accelerate growth and expand our footprint with HEOS, the Company’s wireless multi room sound system. Information about HEOS by Denon can be found at heosbydenon.com. Siena’s principals have a proven track record of success and we look forward to a long-term relationship.”