Rosenthal & Rosenthal has acquired the domestic factoring portfolio of BB&T Corp., its first acquisition in its 80-year history.
Financial terms of the transaction were not disclosed. As part of the deal, Rosenthal will add $2 billion in volume to its already robust $9 billion in factored volume via BB&T’s portfolio of 90 factoring clients. To handle the business, Rosenthal will add a front office in the Atlanta area, as well as back-office support in Greenville, N.C. Rosenthal already has two offices, one in Los Angeles and its headquarters in New York. The company will add 25 BB&T factoring professionals to its nearly 200 staff members.