The Colibri Group said it has completed financing that includes an equity investment by the company’s major shareholder and simultaneous recapitalization of the company’s bank lines.
“This transaction affords the company the opportunity to effectuate our growth strategy, better serve our diverse customer base and pursue selective acquisition opportunities.” Jim Fleet, Colibri’s chief executive officer. “The company had made a substantial investment in late 2007 and early 2008 when it relocated and consolidated its operations into a state of the art facility in East Providence to operate more efficiently and position the business for future growth.”
“The equity investment made by our firm, Founders Equity, confirms its continuing commitment to Colibri’s business, its multiple product lines and positions the business to maximize the use of Colibri’s diverse distribution channels and better serve the consumer,” added Warren Haber, founders managing partner and Colibri chairman.
Colibri also announced that Fleet recently joined the company’s board of directors.