Daily News: September 29, 2014

Prospect Funds Pacific World Recap

Prospect Capital announced it provided $215 million of first lien senior secured credit facilities to support the recapitalization of Pacific World, a portfolio company of Levine Leichtman Capital Partners.

Aliso Viejo, CA-based Pacific World is a supplier of proprietary nail and beauty care products to the food, drug, mass and value retail channels worldwide. Pacific World markets over 5,000 products in more than 86,000 retail locations worldwide with leading brands that include Nailene, Trim, SensatioNail, Fuse, Fing’rs and Woodward’s Myocide. Pacific World also acts as the exclusive sales and marketing distributor of Bio-Oil in the United States and holds a licensing agreement to market Revlon-branded artificial nails and false eyelashes.

“We have enjoyed working with Prospect on our first transaction together,” said Kimberly Pollack, a partner at LLCP. “Prospect’s responsiveness and ability to provide a large one-stop financing solution were integral to the success of this transaction, and we look forward to growing our relationship with the Prospect team.”

“We are excited to provide a one-stop financing solution to Pacific World,” said Richard Carratu, a managing director of Prospect Capital Management. “We welcome the opportunity to support LLCP and the Pacific World management team as they continue to grow the business.”