Daily News: April 24, 2013

GB Credit Partners Agents $30MM Term Loan for BrandsMart

GB Credit Partners, the investment management affiliate of Gordon Brothers Group, announced that it provided a $30 million senior secured term loan to BrandsMart U.S.A., a retailer of consumer appliances, electronics and housewares.

GB Credit Partners’ due diligence of the company was complemented by its ability to utilize the proprietary research and diligence capabilities of other divisions within Gordon Brothers Group, including Gordon Brothers Group’s Retail Division and DJM Realty. GB Credit Partners was able to obtain a solid understanding of the collateral value and the company’s business plan in an accelerated timeframe to commit and quickly close the senior secured term loan. This expedited process allowed BrandsMart U.S.A. to focus on its business plan rather than its capital structure.

Lawrence Klaff, managing director of GB Credit Partners, stated, “We are pleased to partner with BrandsMart U.S.A. by providing a loan that better meets the company’s current needs in order to aid in its continued store operations. BrandsMart’s unique business model is something we value, and we look forward to seeing its continued success for many years to come.”

Michael Perlman, president & CEO of BrandsMart U.S.A., stated, “GB Credit Partners is an ideal partner based on its clear understanding of our needs and ability to rapidly deliver the capital we require. The group’s in-depth knowledge of our market makes all the difference in executing seamless transactions.”

GB Credit Partners, the investment management affiliate of Gordon Brothers Group, originates, structures and invests in private market debt

BrandsMart U.S.A. stocks televisions, large and small appliances, audio, video and home theater equipment, exercise equipment, car stereo components, tablets and computers, cellular telephones, wellness care, bedding and thousands of accessories.