Projo Biz Blog

The Colibri Group, Inc., of East Providence, said today it had completed a refinancing that included an equity investment by the company's major shareholder and recapitalization of the company's bank lines.

Colibri's CEO, Jim Fleet, said the transaction "affords the company the opportunity to effectuate our growth strategy, better serve our diverse customer base and pursue selective acquisition opportunities."

He added the company had made a substantial investment in late 2007 and early 2008 when it relocated and consolidated its operations in East Providence.

"The equity investment made by our firm, Founders Equity, confirms its continuing commitment to Colibri's business, its multiple product lines and positions the business to maximize the use of Colibri¹s diverse distribution channels and better serve the consumer," said Warren Haber, Founders Managing Partner and Chairman of Colibri.

The company also said Fleet joined the board of directors of Colibri, a privately held company that designs, manufacturers and markets branded jewelry, lighters, accessories and clocks.

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