Daily News: July 29, 2014

Salus, Downtown Capital Close $80MM Facility for Anna’s Linens

Salus Capital Partners and Downtown Capital Partners announced they agreed to provide $80 million in financing via a senior secured credit facility to specialty retailer Anna’s Linens. The facility will be used to refinance the debt held by the company’s current lender as well as for general corporate purposes.

“We are happy to partner with the Salus team on our new credit facility, which provides the Company with the resources and flexibility to execute our strategic business plan,” commented Scott Gladstone, president and Chief Executive Officer of Anna’s Linens. “Our new relationship leverages Salus Capital’s deep understanding of the retail sector, which has been evidenced in the new credit facility we have finalized.”

“Anna’s Linens is a family business with a history of success and a reputable market presence,” remarked Andrew H. Moser, President and CEO of Salus Capital. “In partnering with Downtown Capital Partners, we were able to efficiently develop a capital solution that provides significant liquidity in a timely fashion.”

Costa Mesa, CA-headquartered Anna’s Linens is a family-run specialty retailer of value-priced home textiles and home decor items.