Capstone Business Credit Signs $24 Million Financing With Klip America

Discussion in 'Odds & Ends' started by Pro_Tour_630, Sep 18, 2007.

  1. Pro_Tour_630

    Pro_Tour_630 Legend

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    Please do not turn this thread into a Volkl bashing thread. This is our sport and we need to support it if we want our dying sport to grow again.

    "We anticipate a growth of 300% over the course of two years" Sean Frost says.

    Good Luck



    Capstone Business Credit Signs $24 Million Financing With Klip America
    Tuesday, June 26, 2007

    Capstone Business Credit, LLC announced the signing of a two-year, $24 million financing deal with Klip America, a San Diego-based licensor and distributor of high-end tennis & sportswear products.

    The Capstone deal represents $15 million in factoring and $9 million in purchase order financing. The funding will enable Klip America/Marin Group to market, manufacture and distribute products from newly-signed licensing deals including the Sergio Tacchini Italian Sports Wear line and, as of February 1, 2007, an exclusive deal with Volkl-Boris Becker Tennis products for North America.

    "As a result of brand licensing and distributorship agreements, the firm is on track for significant growth within 2007," stated Sean Frost, managing director of Klip America. "We anticipate a growth of 300% over the course of two years. Capstone allows us the necessary resources to grow these tremendous brands."

    Currently, Klip America has brand licensing and exclusive distributorship agreements with Klipspringer of Australia, Sergio Tacchini of Italy and Volkl-Boris Becker of Germany. The Klipspringer brand includes tennis & sporting good accessories, the Sergio Tacchini brand includes performance sport & lifestyle apparel & footwear, and the Volkl Boris Becker brand includes tennis rackets, bags and accessories.

    "Klip America has the opportunity to utilize the Capstone credit facility to transform itself from a manufacturer representative company to a significant wholesaler serving the tennis and sportswear retail markets," said Joseph Ingrassia, managing member of Capstone Business Credit. "We look forward to supporting Klip America during this transformation and welcome the firm to our growing client base."

    Capstone Business Credit, LLC, a privately-held, venture merchant banking firm, provides structured financing and working capital to companies involved in the domestic and international trade of finished consumer and industrial products.

    Klip America primarily operates as an importer and wholesale distributor of high-end performance & lifestyle apparel, footwear, tennis rackets, tennis bags, and sporting good accessories.
     
    Last edited: Sep 18, 2007
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  2. Pro_Tour_630

    Pro_Tour_630 Legend

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    I expect some mud slinging, I think our sport has hope
     
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  3. ollinger

    ollinger Legend

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    Hope for what? Growth? Mostly overseas as some developping nations begin to have a larger leisure class. Not much growth in USA -- many private court facilities have closed, and there is much pressure on the public money to keep municipal taxes down (so less to build park and school courts).
     
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  4. Cruzer

    Cruzer Professional

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    I don't get the connection between this article and how this will become a "Volkl bashing thread". In any case Klip, Sergio Tacchini, and Volkl-BB are very minor players in the overall tennis scene. They have good quality products but compared to the major players like Wilson, Head, Prince, Nike, and Adidas they are no more than a blip on the radar screen
     
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