Daily News: February 29, 2012

Salus Capital Partners Closes $3MM Working Capital Facility


Salus Capital Partners announced it has provided a $3 million senior secured collateral-based working capital facility to a leading company that acquires vintage or classic automobiles for the purpose of resale.

“This transaction demonstrates the broad lending capabilities of Salus; truly a unique transaction where every aspect from underwriting to loan structure could be attributable to the uniqueness of the asset and our confidence in the experience of the operator,” said Marc S. Price, senior vice president, Loan Originations and Corporate Strategy of Salus Capital. “As a subsidiary of Harbinger Group, Inc., we collectively look to partner with leading companies who are positioned as best-in-class. For 30 plus years, this operator has been at the forefront, leading the niche market for vintage automobiles.”