Legacy Corporate Lending closes $31M facility for supplement maker

What's the deal? Legacy Corporate LendingDealroom has a profile for this one. Try Dealroom → , an independent asset-based lending firm serving middle-market businesses across North America, has provided a $31M credit facility to Natural Alternatives InternationalDealroom has a profile for this one. Try Dealroom → (NAII), a formulator and manufacturer of customised nutritional supplements. The deal, which closed on May 18, includes a $20M revolving line of credit secured by accounts receivable, inventory, and machinery, plus an $11M real estate term loan.

The revolver replaces a smaller existing facility that no longer met NAII's growing operational needs.

Why now? NAII, which has a 46-year history in supplement development, needed a lending partner that could scale with it. "NAII was looking for a lending partner that could grow alongside us and support our continued expansion," said Ken Wolf, the company's president.

Lisa Adams, managing director at Legacy Corporate Lending, called NAII "a well-run and forward-thinking organisation" and said the firm is proud to back the company's strategic growth initiatives.

The signal: This facility pairs an early-growth lender with a mature borrower — Dealroom classifies Legacy Corporate Lending as an early-growth company and Natural Alternatives International as mature — suggesting that newer, independent ABL firms are actively competing for established middle-market clients that legacy banks might once have served unchallenged. The layered structure, combining a working capital revolver with a real estate term loan, points to specialty lenders deepening their product offerings to win and retain operationally sound borrowers with tangible collateral bases.

Read more: abfjournal.com