Daily News: January 13, 2014

Prospect Capital Provides $260MM to Support alphabroder Acquisition

Prospect Capital announced that Prospect provided $260 million of floating-rate, senior-secured financing to support alphabroder’s acquisition of Ash City Worldwide.

“We are delighted to support alphabroder again by providing additional capital for the acquisition of Ash City, creating the leading North American seamless-source supplier to the promotional and corporate apparel industry,” said Richard Carratu, a managing director of Prospect Capital Management.

“Prospect’s ability to fully underwrite the entire $260 million financing need on an expedited basis was critical to the success of the transaction, which further enhances the scale and diversity of alphabroder,” said David Simon, a managing director of Littlejohn.

alphabroder is one of the nation’s largest distributor of trade, private label and retail apparel brands and merchandise to the imprinting, embroidery, and promotional product industries.