Daily News: April 30, 2013

Salus Capital Closes C$35MM Facility for Laura’s Shoppe

Salus Capital Partners announced it provided a C$35 million senior secured credit facility to Laura’s Shoppe (P.V.). The company is a Canadian ladies-wear retailer offering contemporary, accessible fashion for modern women. The financing will be used to provide working capital for general corporate purposes.

“For many years, Canadian women seeking highly personalized service from caring associates have looked to our stores as their fashion destination for dresses, career and casual wear, within warm and welcoming environments. Partnering with Salus Capital will allow us to improve the services we offer our customers in this age of constant innovation. We were instantly impressed with the Salus team’s understanding of our seasonal financial cycles, which allowed for a valuable deal to be quickly struck,” said Kalman Fisher, president of Laura’s Shoppe.

“The closing of the Laura’s Shoppe credit facility is a significant step forward in the continuation of expanding the Salus Capital platform in Canada,” said Mark V. Sturrock, senior managing director, Canadian Head of Originations and Corporate Strategy of Salus Capital. “Laura’s Shoppe is a true success story with a long-standing record of unwavering determination exhibited by the Fisher family and we are excited to add this iconic Company to our Canadian portfolio.”