NEWS

BOSTON, Massachusetts – October 15, 2024 – Schottenstein affiliate Second Avenue Capital Partners (SACP) announced it is serving as Administrative Agent on a $120,000,000 Senior Secured Revolving Line of Credit for The Aaron’s Company, Inc., an industry leader in lease-to-own and purchase solutions for furniture, consumer electronics, home appliances, and more. The new asset-based credit facility is a critical component of the broader financing package arranged to support the take-private acquisition of Aaron’s by IQVentures Holdings, LLC.

BOSTON, Massachusetts – October 2, 2024 – Second Avenue Capital Partners (“SACP”), a Schottenstein affiliate, is pleased to announce the closing of a $175,000,000 Senior Secured Revolving Line of Credit for Gabe’s, a leading off-price retailer operating in the mid-Atlantic and Southeast US. The new credit facility, which was provided by SACP and Ares Management Credit funds (“Ares”), will be used to support Gabe’s ongoing growth initiatives, enhance operational flexibility, and strengthen the company’s capital structure.

BOSTON, Massachusetts – September 18, 2024 – Schottenstein affiliates Second Avenue Capital Partners (SACP) and SB360 Capital Partners (SB360), providers of customized solutions for the retail and consumer product sectors, along with Ares Commercial Finance (Ares), are pleased to announce the closing of a $112,000,000 Senior Secured Revolving Credit Facility and Term Loan for Backcountry, the leading, premium specialty retailer of outdoor gear and apparel.

BOSTON, Massachusetts – August 6, 2024 – Schottenstein affiliate Second Avenue Capital Partners (SACP) is pleased to announce the closing of a $15,000,000 Senior Secured Revolving Credit Facility for Dover Saddlery, the premier destination for equestrian products and apparel. The new credit facility will support Dover Saddlery’s strategic growth initiatives, strengthen its ability to optimize inventory management, and underwrite improved operational efficiencies.

BOSTON, Massachusetts – February 1, 2024 – Schottenstein affiliate Second Avenue Capital Partners (SACP), a leading provider of asset-based loans and credit facilities, announced today it has closed on a new $15 million senior secured credit facility for Brixton, an omnichannel global lifestyle brand headquartered in Oceanside, California. The credit facility will be instrumental in optimizing Brixton’s working capital and fueling its continued growth in the competitive fashion industry.

Serving in multiple roles for the transaction — including sole arranger, revolver agent, sole revolver lender and term loan lender — Second Avenue Capital Partners (SACP) was joined by TCW Private Credit and Sagard Credit in providing a credit facility for True Religion Apparel, Inc. The facility has a revolver agented by SACP and a term loan agented by TCW, with SACP as the first out lender in the term loan and TCW and Sagard as the last out lenders.

BOSTON, Massachusetts – December 1, 2023 – In the midst of great turmoil around the world, SB360 Capital Partners (SB360) and Second Avenue Capital Partners (SACP) have chosen to direct our annual gift-giving efforts toward supporting civilians displaced by the conflict in the Middle East. This holiday season, SB360 and SACP have made a donation to the Fuchsberg Jerusalem Center, one of several institutions providing temporary housing and essential resources to displaced families in Israel.

BOSTON, Massachusetts – September 14, 2023 – Second Avenue Capital Partners (SACP), a Schottenstein affiliate, has provided a new $44 Million revolving credit facility for Allstar Marketing Group, a dynamic consumer product development and marketing company. SACP was also the agent for an additional $6 Million term loan to support Allstar’s growth initiatives. With the additional capital, Allstar aims to leverage its core platform to accelerate growth through new market-driven opportunities and pursue strategic acquisitions.

BOSTON, Massachusetts – August 23, 2023 – Second Avenue Capital Partners (SACP), a Schottenstein affiliate, along with TCW Private Credit and Sagard Credit, announced the closing of a new term loan and revolving credit facility for True Religion Apparel, Inc. SACP served in various roles for the transaction including Sole Arranger, Revolver Agent, Sole Revolver Lender and Term Loan Lender. Proceeds from the new credit facility will refinance existing debt, support ongoing working capital needs, and provide liquidity to meet the Company’s long-term growth plans.

BOSTON, Massachusetts – August 17, 2023 – Second Avenue Capital Partners (SACP), a Schottenstein affiliate, has closed on a new $12 Million revolving credit facility to ThirdLove, a female-founded, women’s lifestyle brand that offers elevated essentials including bras, underwear, activewear and more, all designed by women, for women. This strategic financing partnership between SACP and ThirdLove will empower the intimates brand to fuel its growth and further enhance its customer experience.

BOSTON, Massachusetts – April 12, 2023 – Second Avenue Capital Partners (SACP), a best-in-class alternative to traditional sources of capital, announced the completion of three recent transactions in the furniture, home furnishings, and beauty sectors. The new financing arrangements include a $10 million credit facility for a growing RTA furniture manufacturer, a $25 million term loan for a national retailer of home goods, and a $10 million credit facility for a beauty brand developer.

Second Avenue Capital Partners (SACP) makes a habit of working with strong brands in the consumer retail space, including UNTUCKit and Sur La Table. So, when The Jessica Simpson Collection, the $1 billion lifestyle brand inspired by and designed in collaboration with Jessica Simpson, was in need of financing after Simpson and her mother and business partner, Tina Simpson, reacquired the entirety of the brand from Sequential Brands, SACP was an ideal lender.

BOSTON, MA – November 17, 2022 – Second Avenue Capital Partners, LLC (SACP) and Tiger Finance announced the closing of an $80 million credit facility for Casper Sleep, Inc., the omnichannel retailer of innovative sleep products including mattresses, pillows and other sleep accessories. The new financing will be used to retire an existing credit facility and support the ongoing working capital needs of the business.

BOSTON, Massachusetts – August 24, 2022 – Second Avenue Capital Partners, LLC (SACP) announced the closing of a $17,500,000 senior secured credit facility for Alex and Ani, LLC, creators of the iconic charm bracelet and affordable meaning-based jewelry. The new credit facility will support ongoing working capital needs and allow the company to further develop business operations following a corporate restructuring.

BOSTON, Massachusetts – July 19, 2022 – Second Avenue Capital Partners (SACP), a lender specializing in asset-based loans for the broader retail and consumer products industry, announced Michael P. Russell has joined the firm as a Managing Director. Based in the Boston office, Michael’s responsibilities include origination, underwriting, and account/relationship management.

BOSTON, Massachusetts – May 18, 2022 – Second Avenue Capital Partners (SACP), the lending arm of SB360 Capital Partners (SB360), announced the closing of a $67.5 million term loan for The Jessica Simpson Collection, the $1 BILLION fashion empire and signature lifestyle brand inspired by and designed in collaboration with Jessica Simpson.

BOSTON, Massachusetts – May 3, 2022 – Second Avenue Capital Partners, LLC (“SACP”) (www.sacp.com) announced today it has provided a senior secured credit facility to MARIA TASH (www.mariatash.com), a fine jewelry and luxury piercing brand founded by designer Maria Tashjian. The credit facility will be used to support increased working capital and fund additional inventory purchases as the company continues to grow and build out new retail locations. 

BOSTON, Massachusetts – April 26, 2022 – Second Avenue Capital Partners, LLC (SACP) announced it has closed on a $10,000,000 senior secured credit facility (which includes an accordion feature) for myGemma, a modern and professional alternative for consumers wanting to buy or sell high-end luxury goods. The credit facility will be used to support increased working capital and additional inventory purchases as the business continues to rapidly grow.

NEW YORK, August 27, 2021 – After an unprecedented year of dealmaking during a global pandemic and period of challenge and financial uncertainty, The M&A Advisor announced recipients of the 15th Annual Turnaround Awards, recognizing those that reached the pinnacle of the distressed investing, bankruptcy, and restructuring industry over the past year. Second Avenue Capital Partners and SB360 Capital Partners received an award for the Old Time Pottery transaction.

BOSTON, Massachusetts – August 05, 2021 – Solstice Sunglasses, the second-largest sunglass retailer in the United States, announced today it has successfully emerged from Chapter 11 with the support of a $6.5 million exit financing facility provided by Second Avenue Capital Partners, LLC. Solstice filed for bankruptcy relief in February giving them an opportunity to restructure the business as the country tries to recover from the impact of COVID-19 disruptions.

New York, New York – June 29, 2021 – Second Avenue Capital Partners, LLC (“SACP”) closed on a $10,000,000 senior secured credit facility to the leading maternity apparel sister brands Motherhood Maternity and A Pea in the Pod within the Marquee Brands portfolio. The credit facility will be used for general working capital purposes and will provide the company with additional liquidity for future expansion.

The following article was penned by SACP’s Michael Sullivan and Mark Gallivan for the June 2021 issue of the Journal of Corporate Renewal

The retail industry has endured several challenges since the start of the global pandemic. While several big-name retailers have filed for bankruptcy, others once again evolved their businesses to survive and flourish. Retailers have broadly recognized the necessity to adapt their business models to withstand the COVID-19 disruption and plan for a future in the post-pandemic era.

As seen in WWD May 19, 2021 – by Jean E. Palmieri

Earlier this month UNTUCKit closed on a $30 million senior secured term loan with Second Avenue Capital Partners (SACP), a deal that the company said will give it the “financial latitude to continue [its] pre-pandemic growth trajectory.” Sanandres, chief executive officer, explained that the company’s existing loan was coming due, so they started to explore refinancing options. It was Second Avenue’s retail experience that sealed the deal.

BOSTON, Massachusetts – May 06, 2021 – Second Avenue Capital Partners, LLC (“SACP”) announced it has closed on a $30,000,000 senior secured term loan to UNTUCKit, one of the fastest-growing retail apparel brands in North America. The term loan will be used to restructure existing debt and provide the Company with the financial latitude to continue their pre-pandemic growth trajectory.

BOSTON, Massachusetts – April 6, 2021 – Second Avenue Capital Partners, LLC (“SACP”) (www.sacp.com) announced it has closed on a US$10,000,000 senior secured credit facility to Northern Reflections Limited, one of Canada’s largest privately-held apparel retailers of women’s apparel.

BOSTON, Massachusetts – March 18, 2021 – Second Avenue Capital Partners, LLC (“SACP”) (www.sacp.com) announced it has closed on a senior secured credit facility to Cos Bar, a leading luxury specialty cosmetics retailer. The credit facility will be used to support new growth opportunities and provide additional working capital.

BOSTON, Massachusetts – March 4, 2021 – Second Avenue Capital Partners, LLC (“SACP”) (www.sacp.com) has provided $6.5 million in debtor-in-possession (“DIP”) financing to Solstice Sunglasses, the second-largest sunglass retailer in the United States. The DIP facility delivers supportive capital to Solstice as the retailer commences a restructuring.

By David Moin, as published in WWD February 16, 2021

There’s a rapidly evolving agenda at Francesca’s, now fresh out of bankruptcy with new owners.

To widen the customer base, a tween collection, called franki by francesca’s , rolled out to 100 Francesca’s stores the first week of February after debuting on francescas.com last December.

BOSTON, Massachusetts – February 2, 2021 – Second Avenue Capital Partners and Tiger Finance provided a $25 million asset-based revolving credit facility to francesca’s in the company’s recent asset sale. Francesca’s Holdings Corporation and Francesca’s Acquisition completed the sale of substantially all of francesca’s assets to SB360 Capital Partners and Tiger Capital Group.

BOSTON, Massachusetts – November 4, 2020 – Old Time Pottery, a Tennessee-based home décor retailer with stores throughout the Southeast and Midwest, has entered into a Senior Secured Credit Agreement agented by Second Avenue Capital Partners (“SACP”) and CIT Northbridge.

BOSTON, Massachusetts – October 6, 2020 – Second Avenue Capital Partners (“SACP”), a lender specializing in asset-based loans for the broader retail and consumer products industry, is pleased to announce Eric Luukko has joined the firm as a Managing Director. Based in the Boston office, Eric’s portfolio will be wide-ranging and include detailed due diligence, collateral oversight, and loan operations for SACP.

BOSTON, Massachusetts – September 8, 2020 – Second Avenue Capital Partners, LLC (“SACP”) (www.sacp.com) announced it has provided a $35,000,000 senior secured credit facility to a joint venture of Marquee Brands and CSC Generation in support of their newly acquired luxury kitchenware retailer Sur La Table.

BOSTON, Massachusetts and NEW YORK – June 10, 2020 – Second Avenue Capital Partners, LLC (“SACP”) and CIT Northbridge Credit (“CIT Northbridge”) announced the closing of a $60,000,000 senior secured credit facility to Stock+Field, a premier farm, home, and outdoor retailer.

The COVID-19 outbreak has impacted families, communities, and businesses around the globe. Fluid, ever-changing conditions have increased the level of uncertainty. During these trying times, Second Avenue Capital Partners (SACP) is well-positioned and committed to helping retail and consumer businesses ease their mounting capital and liquidity needs.

BOSTON, Massachusetts – April 21, 2020 – Second Avenue Capital Partners, LLC (“SACP”) (www.sacp.com) announced it has closed on a $17,000,000 senior secured credit facility to Crown & Caliber, an online marketplace leader in authenticated pre-owned luxury watches. The credit facility will be used to support growth opportunities and provide additional working capital.

BOSTON, Massachusetts – October 29, 2019 – Second Avenue Capital Partners LLC (“SACP”) and Crystal Financial LLC (“Crystal”) announced the closing of a $40,000,000 Senior Credit Facility for JackRabbit (“JackRabbit” or the “Company”), a leading omni-channel retailer of athletic footwear, apparel, and accessories owned by affiliates of CriticalPoint Capital (“CPC”).

BOSTON, Massachusetts – September 24, 2019 – Second Avenue Capital Partners, LLC (“SACP”) (www.sacp.com), announced today it has provided a $12,500,000 senior secured credit facility to Carlisle Etcetera, LLC (the “Company”), a direct-to-consumer women’s luxury apparel brand.

BOSTON, Massachusetts and SAN FRANCISCO – August 13, 2019 – Second Avenue Capital Partners, LLC (“SACP”) (www.sacp.com), and White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, have closed on a $16,000,000 asset-backed revolving credit facility for Marolina Outdoor, Inc., a Charleston, SC based apparel company.

BOSTON, Massachusetts and SAN FRANCISCO – April 18, 2019 – Second Avenue Capital Partners, LLC “(SACP”) (www.sacp.com), and White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced today the closing of a $35,000,000 asset-backed revolving credit facility for Charming Charlie.

BOSTON, Massachusetts – November 27, 2018 – Second Avenue Capital Partners, LLC, (www.sacp.com) announced the closing of a $20,000,000 asset based credit facility to help fund the purchase and on-going working capital needs of a new entity under the banner of Fallas Stores.

BOSTON, Massachusetts – August 20, 2018 – Second Avenue Capital Partners, LLC, announced it has provided a $12,000,000 revolving line of credit to A’GACI, LLC, a young women’s lifestyle brand and fast fashion retailer. Proceeds from the credit facility will be used as exit financing, enabling A’GACI’s emergence from bankruptcy.

BOSTON, Massachusetts – May 16, 2018 – Second Avenue Capital Partners, LLC, (SACP) announced it has provided a senior secured credit facility to Tommie Copper, the innovative authority in creating premium patented copper compression products. The credit facility will be used to fund working capital and additional growth opportunities.

BOSTON, Massachusetts – April 16, 2018 – Second Avenue Capital Partners (SACP) announces its formation as a new lending platform specializing in asset-based loans for the broader retail and consumer product industry. Established by SB360 Holdings, Second Avenue is a Schottenstein Affiliate. As such, Second Avenue joins a portfolio consisting of the finest retail and consumer businesses in the United States.