Daily News: February 26, 2013

Salus Capital Closes C$21MM Facility for Fletcher Leisure Group


Salus Capital Partners announced it provided a C$21 million senior secured credit facility to Fletcher Leisure Group. The company is one of Canada’s largest sporting goods wholesale and distribution companies. The facility will be used to refinance existing indebtedness and for general corporate purposes.

“Our company has been experiencing exponential sales growth and in order to keep pace we realized we would need a lending partner that understood our highly seasonal business model. Salus Capital was able to quickly understand our sales cycle, growth opportunities and customer needs, resulting in a credit solution not otherwise available. I don’t know of any other lender that could bring that kind of value to our company,” said Allan Fletcher, founder, chairman and chief executive officer of Fletcher. “Their execution and responsiveness were impressive.”

“Fletcher Leisure Group remains one of Canada’s premier sporting goods companies, with international recognition and an expansive product offering,” said Mark V. Sturrock, managing director, Canadian head of Originations and Corporate Strategy of Salus Capital. “We acknowledge the strengths of their business platform, with its diversified brand portfolio, emphasizing style and quality. Our credit facility enables the implementation of the company’s growth strategy to achieve further marketplace success.”