Salus Capital Recognized for Forsyth Restructuring
Salus Capital Partners announced that the restructuring of the John Forsyth Shirt Company was named the M&A Advisor Retail Manufacturing/Distribution Deal of the Year.
Salus Capital provided a $10 million CAD senior-secured credit facility to the John Forsyth Shirt Company, a Canadian apparel manufacturer, as they were attempting to emerge from CCAA bankruptcy in October 2013. As financial challenges remained, the company faced a cash shortfall in early 2014 and entered into a sale process. Salus assisted Forsyth’s management team and the company’s largest supplier in formulating a purchase agreement that would provide the company with the support needed to continue its operations.
“I’d like to congratulate our Special Assets deal team at Salus as well as the many professionals involved in forging the best possible solution for the company and its primary stakeholders,” commented Andrew H. Moser, co-founder, president and CEO of Salus Capital. “Through our collaboration with the company’s management team, key vendors, and trusted advisors, Salus was able to provide the acquisition financing needed to keep a 100+ year old company in business.”
Salus was also selected as a finalist for Lender Firm of the Year, Restructuring Deal of the Year ($10-100MM), and Marc S. Price, co-founder and executive vice president of Salus Capital, was selected as a Dealmaker of the Year Finalist.
“Since 2002, we have been honoring the leading M&A transactions, companies and dealmakers. Salus Capital was chosen from over 600 participating companies to receive the award. It gives us great pleasure to recognize Salus and bestow upon them our highest honor for M&A firms and professionals,” said David Fergusson, co-CEO and president, The M&A Advisor. “Salus represents the best of the M&A industry in 2014 and earned these honors by standing out in a group of very impressive candidates.”