Colibri Gets New Financing

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,” said CEO Jim Fleet. “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.”

Fleet recently joined the company’s board of directors.