Salus Capital Closes Loan for Jewelry Manufacturer
Salus Capital Partners announced it provided a senior-secured term loan to Scott Kay, Inc., a designer and manufacturer of bridal and fashion oriented jewelry. The credit facility will be used to refinance existing indebtedness and for general corporate purposes.
“Salus Capital was creative in their financing solutions to tailor a credit facility to meet our needs in a changing business environment,” said Jeffrey Simon, chief financial officer of Scott Kay, Inc. “Salus was able to tap assets to provide us with added liquidity and overcame the challenges that handcuffed traditional banks. We can now focus on the execution of our business plan without liquidity constraints. The Salus team was professional, knowledgeable, and efficient and worked with a sense of urgency to close on our timetable.”
“Scott’s personal vision to Never Compromise is clearly visible in every aspect of the company,” said Marc S. Price, senior vice president, Loan Originations and Corporate Strategy of Salus Capital Partners. “His drive and passion to deliver the ability to express emotion and faith through his product design has created a widely accepted and innovative brand within the jewelry industry. The demonstration of these core values across the company aligns perfectly with the thesis of the Salus lending platform; providing flexible, relevant capital solutions with an entrepreneurial approach to credit risk and a keen focus on best-in-class execution.”
Choate, Hall & Stewart acted as legal counsel to Salus Capital.