Daily News: January 23, 2014

Salus Provides Worldwise Facility

Salus Capital Partners announced it provided a $20 million facility to Worldwise. The financing will be used to refinance its current lender and for general corporate purposes.

“This credit facility highlights Salus Capital’s alignment with an active private equity sponsor in the consumer sector,” said Marc S. Price, EVP, Loan Originations and Corporate Strategy at Salus Capital. “The leadership of Worldwise’s experienced management team and the meaningful support of Mistral Equity Partners gave us great comfort and confidence in the business. This financing will provide Worldwise with the liquidity it needs to execute its growth plans.”

“When we met with Salus, they quickly understood exactly what we needed, and were able to structure a financing solution that will enable Worldwise to execute on its strategic plan and growth initiatives,” said Jeffrey Ginsberg, managing director of Mistral Equity Partners.

“Their focused approach understanding our business and how best to support our expansion plans exemplifies their entrepreneurial approach to middle-market lending,” added Kevin Fick, CEO of Worldwise.

Worldwise is a manufacturer and supplier of pet accessories.