NEWS

The source for the latest headlines, press releases, and articles showcasing Second Avenue Capital Partners (SACP) in the news.

Second Avenue Capital Partners Supports Brixton with New $15 Million Credit Facility

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.

SACP Recognized in ABF Journal’s 2023 Deals of the Year Issue for the Credit Facility Provided to True Religion Apparel, Inc.

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.

SACP and SB360 Choose to Give Back this Holiday Season by Supporting the Fuchsberg Jerusalem Center

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.

Second Avenue Capital Partners Agents $50 Million Credit Facility for Allstar Marketing Group

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.

Second Avenue Capital Partners Arranges Credit Facilities for True Religion

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.

Second Avenue Capital Partners Provides $12 Million Revolving Credit Facility to Female-founded, Women’s Lifestyle Brand ThirdLove

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.

Second Avenue Capital Partners Completes $45MM in Transactions for Clients Across Multiple Industries

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.

SACP Recognized in ABF Journal’s Inaugural 2022 Deals of the Year Issue for $67.5 Million Term Loan to The Jessica Simpson Collection

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.

Second Avenue Capital Partners and Tiger Finance Provide $80 Million Credit Facility for Casper Sleep, Inc.​

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.

Second Avenue Capital Partners Provides a $17.5 Million Senior Secured Credit Facility to Alex and Ani

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.

Second Avenue Capital Partners Adds Michael P. Russell as Managing Director

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.

Second Avenue Capital Partners Provides a Senior Secured Credit Facility to MARIA TASH

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. 

Second Avenue Capital Partners Closes on a Senior Secured Credit Facility for myGemma

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.

THE M&A ADVISOR: SACP IS A WINNER IN THE CHAPTER 11 REORGANIZATION OF THE YEAR CATEGORY

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.

SOLSTICE SUNGLASSES EMERGES FROM CHAPTER 11 WITH $6.5 MILLION EXIT FACILITY FROM SECOND AVENUE CAPITAL PARTNERS

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.

MARQUEE BRANDS PLANS FOR GROWTH WITHIN MATERNITY BRANDS WITH SECURED CREDIT FROM SACP

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.

JCR: FROM ‘APOCALYPSE’ TO PANDEMIC: RETAIL IN THE AGE OF COVID AND BEYOND

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.

WWD:  UNTUCKit Sees Sales Bump as Pandemic Wanes

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.

Second Avenue Capital Partners Provides a $30 Million Senior Secured Term Loan to UNTUCKit

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.

SECOND AVENUE CAPITAL PARTNERS CLOSES ON A SENIOR SECURED CREDIT FACILITY TO COS BAR

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.

SECOND AVENUE CAPITAL PARTNERS PROVIDES A $6.5 MILLION DIP FACILITY TO SOLSTICE SUNGLASSES

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.

WWD: A PARED DOWN FRANCESCA’S RESETS FOR THE FUTURE

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.

SECOND AVENUE CAPITAL PARTNERS AND TIGER FINANCE PROVIDE $25MM ABL IN SUPPORT OF FRANCESCA’S

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.

INDUSTRY VETERAN ERIC LUUKKO JOINS SECOND AVENUE CAPITAL PARTNERS AS MANAGING DIRECTOR

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.

Second Avenue Capital Partners is Co-Agent for $16 Million Facility to Marolina Outdoor

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.

Second Avenue Capital Partners Closes Credit Facility with Tommie Copper

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.

Second Avenue Capital Partners Announces Innovative Lending Platform

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.

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