Daily News: April 23, 2014

Siena Lending Closes Carol’s Daughter Revolver

Siena Lending Group announced the completion of a $3 million senior secured revolving credit facility for Carol’s Daughter Holdings, a developer and distributor of hair and beauty products.

The facility will be used to support working capital and expansion of the company’s distribution model.

Carol’s Daughter is headquartered in New York City and is majority owned by private equity fund Pegasus Capital Advisors.

David Grende, president and CEO of Siena Lending Group, said “We are pleased to have the opportunity to help Carol’s Daughter expand its distribution channels and look forward to its future growth and success.”

Carol’s Daughter CFO, John Elmer, said “Siena understood and reacted to our needs by delivering a very flexible solution which has allowed us to greatly expand our distribution.”