Daily News: April 24, 2014

Salus Provides $17.5MM Credit Facility to Calypso St. Barth

Salus Capital Partners announced it provided a $17.5 million senior-secured credit facility to Calypso St. Barth. The facility will be used for refinancing its current lender, general corporate purposes and continued store growth.

Founded in 1992 and acquired by Solera Capital in 2007, Calypso is a luxury lifestyle brand. The company is a manufacturer and retailer of luxury women’s apparel, accessories and home products, with 48 stores located in key metropolitan and resort markets throughout the United States and on the island of St. Barth.

“The Salus team has demonstrated a deep understanding of our business,” remarked David Stiffman, president and chief financial officer of Calypso St. Barth. “The new facility with Salus provides us the ability to capitalize on our business momentum and execute our growth strategies.”

“By leveraging Salus Capital’s experience in the consumer sector, specifically women’s apparel, our team was able to develop a credit facility that best meets Calypso’s needs,” said Marc S. Price, EVP, loan originations and corporate strategy at Salus Capital. “We look forward to supporting the continued growth of the Calypso brand.”

Salus Capital is a direct originator of secured asset-based loans to the middle market across a variety of industries with additional complementary financing throughout the capital structure.