Since 1938, when Imre J. Rosenthal established his eponymous firm, Rosenthal & Rosenthal, three generations of his family members have passed through the doors of the company’s headquarters on the iconic corner of 37th and Broadway in midtown Manhattan. As entrepreneurial as Imre was back then, it would have been hard for him to imagine that 80 years later his small, family-run firm would be an industry leader in factoring and alternative financing, with 200 employees nationwide and offices in California, Georgia, North Carolina, and New York.
Imre’s perspective on business was fairly radical for his time. In the 1930s, the market was in turmoil, and funding for new businesses was scarce. So when he deliberately chose to focus on financing businesses that, for a variety of reasons, were not able to secure funding from big banks or more traditional lending institutions, Imre’s approach felt like a breath of fresh air. Early on, Imre set a precedent for being open-minded, creative, and supportive of his clients. From his very first client—a chicken farmer with a vision for a brighter future—to the countless textile companies and garment businesses that sought out Rosenthal’s funding and partnership over the years, Imre’s mission was always clear: He wanted to provide the financial assistance and strategic counsel that business owners needed to grow their companies and be successful.
“My grandfather believed in every single one of his clients and took a personal interest in helping each of them pursue the opportunities that were within their reach,” says Peter Rosenthal, president of Rosenthal & Rosenthal. “He was a role model to all of us in so many ways and set the tone for the guiding principles that continue to drive our business today.”
As the firm celebrates this significant 80th anniversary milestone in 2018, the same spirit of entrepreneurship and innovation that Imre championed three generations ago is evident in the success of Rosenthal’s thriving business today. For Rosenthal, the key to longevity has been finding new avenues for growth, like partnering with companies to manage their challenging business situations and maintaining the personal touch Imre inspired so many years ago.
Earlier this year, the firm explored one such new avenue for growth when it made its first acquisition in its history, acquiring a $2 billion factoring portfolio from BB&T, one of the largest financial services holding companies in the United States. Aside from adding to Rosenthal’s existing $9 billion in factoring volume, the deal also added 25 new employees, two offices in Georgia and North Carolina, and a roster of new factoring clients across the furniture, casual living, fabrics, and textiles industries, among other sectors.
Rosenthal has worked hard to expand its footprint nationwide and diversify the industries it serves and the regions in which it operates. Always with an eye toward growth, the firm opened its West Coast office 15 years ago to take advantage of the numerous opportunities cropping up in the Western Region. That office, led by Sydnee Breuer, has grown significantly and established itself as a trusted partner and lender to countless businesses up and down the West Coast.
“We know that businesses in California and the Pacific Northwest operate differently than many of their East Coast counterparts, so with our industry expertise and creative lending capabilities, we are well positioned to address their financial challenges and their unique needs,” says Breuer. “Rosenthal had excellent insight 15 years ago when the firm established the West Coast office, and since then, we’ve built a talented team of finance professionals who know the industries we serve as well as the companies that operate within them.”
Rosenthal’s seasoned team of sales, new business, and portfolio management executives are helping to cultivate the firm’s presence and reach outside of New York. Each individual brings his or her own experience at large financial institutions, specialized skill sets, and specific areas of expertise and focus, all of which have allowed Rosenthal to branch out into new sectors, from accessories and surf and skate companies to furniture and consumer technology businesses.
“Our first priority is always to help our clients solve some of their most complex business challenges,” explains Breuer. “Because Rosenthal is private and still independent, we are fortunate that we can be creative when the situation warrants it and flexible when recommending financial solutions. So whether we are helping an apparel designer take advantage of a new growth opportunity or trying to right the ship for a surf and skate company that might be cash-strapped on a big order, we have the perfect mix of resources to tackle every business challenge.”
As Rosenthal’s client base has diversified, so too have its lending capabilities and service offerings. For example, the firm’s Asset Based Lending division has expanded its inventory lending capabilities to serve the needs of e-commerce and direct-to-consumer companies. To complement its Factoring and Asset Based Lending divisions, led respectively by industry veterans Michael Stanley and Rob Miller, Rosenthal launched its Purchase Order Finance division in 2016. With the ability to provide alternative short-term financing quickly—and often in tandem with existing working capital facilities like factoring or asset based lending—Rosenthal has created a viable channel for new business opportunities across the firm. Paul Schuldiner leads the PO Finance division, working hand-in-hand with his East Coast and West Coast Rosenthal colleagues to ensure that cash-constrained businesses receive the financing they need. Fast-growing or closely held companies across nearly every industry—many of which are based on the West Coast—are choosing to partner with Rosenthal because of the unique opportunity to combine PO financing and factoring to address complex supply chain requirements.
“Eighty years is truly a lifetime. We have seen our clients through good times and bad, start-ups and bankruptcies, market upswings and recessions. And through it all, we have remained a trusted partner and advisor to thousands of business owners, across dozens of sectors and industries,” notes Rosenthal. “Our longevity and continued success has everything to do with the bond we share with our clients and our continued commitment to moving their businesses forward.”
Sydnee Breuer
Executive VP & Western Region Manger
Rosenthal & Rosenthal
818-914-5904
sbreuer@rosenthalinc.com
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