Thermo Credit, a provider of funding solutions for the communications and technology industries, was acquired by alternative lender First Avenue Funding, which provides working capital solutions for SMBs that need the right funding to realize their potential.
This transaction is expected to allow Thermo Credit to broaden its financial services portfolio, enhance its capacity for supporting a range of businesses and improve funding options by offering larger facilities and more flexibility.
Thermo’s clients can expect to receive the same customer service they have always received from the portfolio management team, headed up by Michael LaRocca.
With the move, Seth Block will become national sales director for First Avenue Funding, while also maintaining the same role with Thermo Credit.
“I am thrilled to be joining the team at First Avenue Funding,” said Seth Block, EVP of Thermo Credit. “This is the deal we have been looking for as it allows us to continue our tradition of being the go-to lender in the communications/technology space.”
First Avenue Funding, known for its innovative and customized funding solutions, will likewise benefit from Thermo Credit’s industry-specific knowledge and extensive experience. This synergy will enable both firms to enhance their service offerings, thus providing greater value to their clients through tailored financing options that allow businesses to seize the opportunities in front of them.
“Our acquisition of Thermo Credit represents a step forward in our growth strategy,” said Ron Williamson, managing member, First Avenue Funding. “We are excited to combine our strengths and deliver exceptional financial services that drive success for our clients. This partnership will enable us to reach new heights in the alternative financing industry.”
Thermo Credit clients, it was noted, can expect seamless integration into the First Avenue platform.
