Daily News: March 5, 2013

Salus Capital Closes $10MM Facility for Work N’ Gear

Salus Capital Partners announced it provided a $10 million senior secured credit facility to Work N’ Gear, a retail chain specializing in healthcare and industrial name brand work wear apparel and footwear. The facility will be used to refinance existing indebtedness and for general corporate purposes.

“Working with Salus Capital has been like a breath of fresh air. They’ve responded quickly and rationally to any and all issues that normally arise in a financing,” said Anthony DiPaolo, president and chief executive officer of Work N’ Gear. “Salus Capital has built a team of professionals that truly understand our business and are able to provide a meaningful capital solution.”

“The Salus Capital management team has a long working history with Work N’ Gear and its equity sponsor,” said Andrew H. Moser, president of Salus Capital Partners. “Through the leadership of Anthony DiPaolo, the company has pursued a growth strategy across all channels; retail stores, store-in-store concepts and ecommerce sites. This transaction is representative of our passion for collaborating with a leading consumer-facing business and providing a uniquely-tailored facility that is mindful of the critical needs of our client.”